Economic tools can cut carbon

Thailand should consider using a variety of economic tools to curb carbon dioxide emissions in the long term, says Deloitte Thailand.

The tools could include a carbon emission tax or fee collected from manufacturers that have factories that emit carbon dioxide.

This could be a crucial measure for Thailand to support its transition to clean energy, said Bordin Vongvitayapirom, senior manager for sustainability and climate at Deloitte Thailand’s Centre of Excellence.

He pointed to the EU, which imposed its Carbon Border Adjustment Mechanism (CBAM) from Oct 1.

The transitional phase of CBAM requires importers of iron and steel, aluminium, cement, fertilisers, electricity and hydrogen to report greenhouse…