High quality environmental disclosure in Thailand, based upon the TCFD recommendations – PBIP Expansion Thailand GFS\102

Southeast Asia is highly vulnerable to the effects of climate change and yet has witnessed one of the highest increases in carbon dioxide emissions. In the post-COVID-19 economic recovery, it will be critical for Indonesia and Thailand to maintain their resolve on meeting their Nationally Determined Contributions (NDCs) under the Paris Agreement and continue an economic shift to low carbon model. Pertinently, as climate change is affecting people’s livelihood such as access to food, clean water and basic needs, this economic recovery also presents us with the opportunity to align environmental initiatives with social inclusion of vulnerable and historically marginalised groups such as women, LGBT community, people with disability, ethnic minorities, and indigenous people. Active participation from finance and real economy sectors is needed to match policy intervention and address current ambition gaps in meeting NDC commitments and embedding long term sustainability. A resilient, low carbon economic growth will also require increased transparency and high-quality disclosure under globally recognized sustainability reporting frameworks to unlock the potential and catalyse the shift in investment practices to green and sustainable finance. To improve participation from non-policy actors, Consortium Partners will develop a capacity building programme in partnership with strategic local stakeholders such as BAPPENAS, ICSA and SET for corporates and financial institutions in Indonesia and Thailand (“beneficiaries”) to: • address knowledge gaps in the financial implications and risk management of climate change;• establish environmental, social and governance (ESG) best practices for social inclusion and human rights; and • encourage the adoption of green and sustainable finance. Notably, this project will consider the sustainable development visions of local stakeholders to ensure that beneficiaries can better relate internationally accepted best practices in reporting, such as TCFD and GRI standards, to local policy ambitions and identify financing requirements to establish robust and sustainable business models.