Green finance, carbon pricing & disclosures Call for Proposals Thailand UK PACT

The deadline for submitting proposals has been extended to 2 October 2024 at 18:00 ICT / 11:00 UTC.

Click here to view the Thailand-UK PACT Q&A document.

Thailand's ambitious climate targets, including reducing emissions by 40% by 2030 and achieving carbon neutrality by 2050 and net zero by 2065, highlight the urgent need for sector-wide transformations. Green finance and carbon markets are critical in shaping the nation's climate policies and strategies.

Thailand is developing a policy framework for green growth and climate change, aiming to transition into a resilient, innovation-driven, green economy. This includes promoting sustainable finance initiatives and green infrastructure investment. The country is advancing in developing its sustainable finance ecosystem, which connects green finance and carbon markets. The development aligns with the Bio-Circular-Green (BCG) economy model, Sustainable Finance Initiatives for Thailand, and the 20-year national strategy, reflecting strong political support for green finance and sustainable investments.

Thailand's climate policies emphasise market-based approaches through carbon pricing, aiming to align the country's carbon crediting standards with international norms.

What are we looking for?
We are looking to award grant funding to initiatives that enhance green finance, carbon pricing and disclosures in Thailand, with a particular focus on reducing carbon emissions. These projects should be in line with government strategies and policies, provide benefits to the private sector and the wider public, and contribute synergistically to development and implementation of climate-related policies and strategies. The overarching goal is to mitigate carbon emissions and contribute positively to scaling financing and investment into green and transition activities.

The focus will be on three intervention areas:

Area 1: Green and transition finance with interventions on taxonomy, sovereign and sub-sovereign thematic bonds and transition finance.
Area 2: Carbon pricing with interventions on carbon tax, mandatory Emissions Trading System (ETS) scheme and Carbon Border Adjustment Mechanism (CBAM) impact mitigation.
Area 3: Non-financial reporting and disclosures with interventions on strengthening readiness to adopt and report in line with International Sustainability Standards Board ISSB sustainability and climate-related disclosure standards.

Application specifications

How much should each project cost?
Successful projects will receive grants of up to £500,000 per year (THB 23 million). Applicants should propose projects of up to 24 months in duration. Projects will be selected through a one-stage open and competitive call for proposals.

We encourage proposals that can strategically address and combine multiple interventions under one thematic area. Applicants are expected to strategically address one thematic area within one proposal.

Each proposal will be assessed independently.

How long can each project be?
All projects should aim to last up to 24 months, beginning as soon as December 2024 and ending in December 2026. The proposals must have a clear indication of the outcomes and impacts expected to be achieved in the first year of implementation, as well as in the second year of implementation.  We are looking for partners with the ability to be flexible and adapt to deliver against additional demands that may come over the course of a project. We expect any multi-year projects to be designed based on demand and consultation with stakeholders in the transportation sector.

Can a consortium apply?
Yes, we welcome applications from consortia. For-profit and non-for-profit organisations can apply as lead organisation. All consortia must have at least one local partner. The local organisation does not need to be the consortium lead. A local partner is defined as an organisation that operates in Thailand under a National Register of Legal Entities. For-profit organisations can apply, but all projects must be delivered on a not-for-profit basis. Government agencies and/or departments are not eligible to apply either as a lead organisation, or as a partner organisation within consortium.  

What type of organisations can apply?
All organisations that consider themselves capable of delivering the project activities presented may submit proposals, considering aspects such as cost-effectiveness, project management, impacts on GEDSI (Gender Equality, Disability and Social Inclusion), technical capacity of the organisation or proposing consortium. For-profit organisations can apply, but all projects must be delivered on a not-for-profit basis. Government agencies and/or departments are not eligible to apply either as a lead organisation, or as a partner organisation within consortium.  

What types of costs are eligible?
All projects must be delivered on a not-for-profit basis. Eligible costs will include: 

Consultancy and/or staff time required to deliver activities;
Reasonable travel and subsistence costs;
Other costs directly related to activities and outputs (workshop, seminars, production of reports, translation etc.).

We cannot award funding for tangible assets e.g. computer and furniture. For further details, please refer to the UK PACT Applicant Handbook & Budget Template which reflect FCDO grants management rules applicable to this programme.

Application timeline

The steps and indicative dates for each stage of the Call for Proposals in the green finance, carbon pricing and disclosures sectors are outlined below:

Thailand-UK PACT green finance-1

How to apply

Projects will be selected through a one-stage open and competitive call for proposals. Applicants should read the Terms of Reference and Applicant handbook to understand what is required to submit a strong proposal for this call.

Malaysia - Call for proposals UK PACT

To start your application process, fill in the templates below and then submit the form linked. After submitting the form, you will receive an email containing a link to upload your application pack. The following documents form your application pack and must be downloaded, completed in English, and submitted via the link sent to your email, after submitting the form below.

All the guidance you will need to make an application can be found here:

The deadline for submitting proposals has been extended to 2 Oct 2024 at 18:00 ICT / 11:00 UTC. Submissions will not be considered if the application pack has not been uploaded or if they are received after the deadline.

If you run into any issues with accessing or sharing the relevant templates, please contact thailand@ukpact.co.uk before the deadline.

Market engagement event

Click here to watch the recording and view the slides from our market engagement event held on 14 August 2024.

Eligibility checker

Want to check if your project is eligible before applying? Use the quick check list below. You can find more about eligibility for this call, and for UK PACT funding in general, by reading our Applicant Handbook and Terms of Reference above.

Q. Is your project aligned with at least one of the scopes of the call?

Yes No

This indicates that your project may be eligible. Please proceed to the next question.

Unfortunately, this makes your project ineligible.

Q. Is the value of your project up to £500,000 per year and up to 2 years?

Yes No

This indicates that your project may be eligible. Please proceed to the next question.

Unfortunately, this makes your project ineligible.

Q. Is your organisation eligible to apply for UK PACT funding? Note that government agencies and/or departments are not eligible.

Yes No

This indicates that your project may be eligible. Please proceed to the next question.

Unfortunately, this makes your project ineligible.

Q. Are your project activities and costs eligible?
Please note: we cannot award funding for infrastructure projects or for tangible assets and profit is not eligible cost in UK PACT budgets, either as a direct cost or within overheads.

Yes No

This indicates that your project may be eligible.

Unfortunately, this makes your project ineligible.

Answering yes to all the questions above indicates that your project is eligible to apply for funding. Apply via the link above.

Answering no to any question above indicates that your organisation or project is not eligible for funding at this time. Please re-read our guidance documents carefully to find out how to design a UK PACT project.

Green finance, carbon pricing & disclosures Call for Proposals Thailand UK PACT

Eligibility checker

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