The Zoological Society of London (ZSL) concluded a public seminar titled "Thailand Taxonomy 2.0: Gap, Reflections, and CSO Perspectives" in Bangkok, Thailand on 3 July 2025. Convened under the UK PACT (Partnering for Accelerated Climate Transitions) and co-organized with project partners Sal Forest, Fair Finance Thailand (FFT), Madre Brava, and the Thailand Development Research Institute (TDRI), the event brought together stakeholders from civil society organizations (CSOs), research institutions, and international development organizations to discuss the challenges and opportunities posed by the new phase of Thailand's taxonomy.
This milestone event comes at a pivotal time for Thailand as the nation moves toward fostering a more sustainable and inclusive economy. Released on 27 May 2025, Thailand Taxonomy 2.0 expands to cover four additional economic sectors: agriculture, construction and real estate, manufacturing, and waste management. The expansion is designed to help align national economic activities with environmentally sustainable and credible transition pathways. With this new phase, Thailand joins over 20 other countries in developing similar taxonomies as part of the global effort toward climate action.
Thailand's taxonomy expands to include more critical economic sectors, but implementation criteria concerns remain
To determine which economic activities qualify as 'green,' Thailand's taxonomy uses a 'traffic light system' of classification—green, amber (transitional), and red. This provides an effective framework for evaluating economic activities, alongside the principles of Do No Significant Harm (DNSH) and Minimum Social Safeguards (MSS) as essential criteria.
The evaluation criteria were elaborated further via a presentation on the Thailand Taxonomy 2.0 by Charika Channuntapipat (PhD), Research Fellow, TDRI, who delivered a detailed overview outlining the new taxonomy's structure, its alignment with international sustainability practices, and implementation.
In her presentation, Dr. Charika Channuntapipat, Research Fellow, Thailand Development Research Institute (TDRI), explained: "Thailand Taxonomy 2.0 was developed through a collaborative process involving public agencies, international partners, and local consultants. While its principles are science-based, transparent, and locally adaptable, localising global standards—particularly in newly added sectors—remains a challenge. As our economic and environmental context evolves, the taxonomy is designed as a living document, enabling regular updates so it can remain relevant, unlock sustainable finance, and guide the shift from unsustainable to sustainable economic activities."
The presentation was followed by a multi-stakeholder panel discussion featuring representatives from ZSL, FFT, Madre Brava, TDRI, and the Environmental Justice Foundation (EJF). The discussion raised concerns around the DNSH and MSS criteria, as well as risks of greenwashing due to relaxed standards.
Sarinee Achavanuntakul, Head of Research, Fair Finance Thailand, stated: "We're grateful to the UK PACT for supporting platforms like this, which can help facilitate a just transition toward a low-carbon economy. Thailand Taxonomy is a promising guideline, but to be effective, it must be transparent, science-based, and reflect real-world risks. We still see gaps—for example, activities that meet technical standards but may still cause environmental harm. As the taxonomy evolves, we urge more disclosure, stronger safeguards, and inclusion of civil society to help strengthen accountability."
Wichayapat Piromsan, Country Director for Thailand, Madre Brava, added: "Agriculture is essential to climate mitigation but remains chronically under-addressed. While the taxonomy acknowledges the impact of livestock, there are still gaps in addressing supply chains of animal feed, which can be a huge source of GHG emissions. We recommend that the protein transition be a part of the taxonomy to make Thailand's food production aligned with the Paris Agreement."
Punyathorn Jeungsmarn, Plastics Campaign Researcher, EJF, shared: "Thailand's inclusion of the manufacturing and waste sectors in Taxonomy 2.0 is a critical step forward, but it must go beyond technical classification and provide groundwork for systemic reforms. The current investment and policies related to plastics focus solely on managing waste, without addressing the root cause of the problem: overproduction. Moreover, false solutions such as waste-to-energy can create demands for more waste, disincentivizing reduction of plastic production, and creating a harmful pattern of carbon lock-in where fossil fuel-based petrochemical products are churned out at unsustainable rates, under the false pretense that they will eventually be turned into energy. If the taxonomy can be mobilized to prevent and encourage divestment from such false solutions, the financial sector could help turn the tide in the plastics, waste, and climate crisis."
Paving the next sustainable steps for Thailand's economy with Taxonomy 2.0
The seminar concluded with a strong call for the Thailand Taxonomy Board to clarify and strengthen the DNSH and MSS criteria in future phases of the taxonomy. Participants also recommended the continuation of an inclusive consultation process, enabling the Taxonomy Board to receive input from a broad range of stakeholders—including government agencies, the private sector, civil society, academia, and international organizations.
May Moe Wah, Country Director of ZSL Thailand, shared: "We are proud to support this inclusive dialogue under UK PACT. With 17 years in Thailand, ZSL continues to promote biodiversity-informed finance alongside our partners and the Bank of Thailand, who chairs the Thailand Taxonomy Board. We see potential for the taxonomy to go beyond green finance and actively support habitat and species protection. Strengthening biodiversity indicators and safeguards is thus instrumental to making this possible."
