BANGKOK, Jan. 21 (Xinhua) -- Thailand's cabinet on Tuesday approved a plan to impose a carbon tax on petroleum products as part of the Southeast Asian country's ongoing efforts to curb greenhouse gas emissions.

In a statement, Minister of Finance Pichai Chunhavajira said the mandatory carbon pricing mechanism will be incorporated into the existing excise tax structure for oil and petroleum products, ensuring no impact on retail prices or industrial costs.

Pichai said the initiative aims to promote eco-friendly consumption and production while enhancing the nation's competitiveness in international trade negotiations, where resource efficiency and environmental impact are critical factors.

The automotive and oil industries, which account for 70 percent of the kingdom's carbon emissions, are key targets of this policy, the minister said.

Thailand has targeted achieving carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065. Enditem

Related

Go to Forum >>0 Comment(s)