Thailand to support just energy transition, L&D Fund at COP29

Thailand will use the 2024 United Nations Climate Change Conference (COP29) to promote the just transition to a green economy and a “loss and damage fund” to assist developing countries vulnerable to climate-change impacts, a source in the Thai government told the local publication The Nation, Report informs.

Thailand’s stance was approved by the National Climate Change Committee, chaired by Deputy Prime Minister Prasert Jantararuangtong with Natural Resources and Environment Minister Chalermchai Sri-on as first deputy chairman.

The term ‘just transition’ refers to meeting climate goals by ensuring that all sectors of society – communities, workers, business, etc – are included in the journey to a net-zero carbon future.

Meanwhile, the loss and damage fund will see developed countries pool money to compensate developing countries for the effects of natural disasters caused by climate change. The contribution to the fund has been set at $100 billion per year with a goal of $1 trillion.

COP29 will be held in Azerbaijan November 11-22, 2024.