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A platform for research: civil engineering, architecture and urbanism
Thailand’s net-zero emissions by 2050: analysis of economy-wide impacts
https://orcid.org/http://orcid.org/0000-0002-0718-0687
https://orcid.org/http://orcid.org/0000-0001-5139-823X
https://orcid.org/http://orcid.org/0000-0002-1494-6601
https://orcid.org/http://orcid.org/0000-0003-2712-5981
https://orcid.org/http://orcid.org/0000-0003-4944-4748
https://orcid.org/http://orcid.org/0000-0002-2177-2961
This paper aims at exploring the economy-wide impacts of achieving net-zero greenhouse gas (GHG) emissions by 2050 in Thailand. This study developed a recursive dynamic Asia-Pacific Integrated Model/Computable General Equilibrium (AIM/CGE) model of Thailand for the assessment. The macroeconomic impacts of Thailand’s net-zero GHG emission targets by 2050 are analyzed relative to its 2-degree pathway. Results indicate that Thailand should put more effort in GHG mitigation actions to achieve the emissions peak by 2025 and net-zero GHG emissions by 2050. Improvement in energy efficiency; increasing electrification; expanding renewable energy utilization; deploying green hydrogen; bioenergy; carbon capture, utilization, and storage (CCUS); and behavioral changes are the key identified pillars of decarbonization to drive Thailand towards the pathways of net-zero emissions by 2050. Results show that there is a possibility of attaining net-zero GHG emissions by 2050 at the expense of an economic loss for Thailand. The gross domestic product (GDP) loss would be as high as 8.5% in 2050 to attain net-zero emissions. Lower productivity from the energy intensive industries such as petroleum refineries, coal and lignite mining, manufacturing industries, and transport are the key contributing sectors to the GDP losses. The price of carbon mitigation would shoot up to reach USD 734 per tCO2eq in 2050 from USD 14 per tCO2eq in 2025 to attain net-zero emissions in 2050.
Thailand’s net-zero emissions by 2050: analysis of economy-wide impacts
https://orcid.org/http://orcid.org/0000-0002-0718-0687
https://orcid.org/http://orcid.org/0000-0001-5139-823X
https://orcid.org/http://orcid.org/0000-0002-1494-6601
https://orcid.org/http://orcid.org/0000-0003-2712-5981
https://orcid.org/http://orcid.org/0000-0003-4944-4748
https://orcid.org/http://orcid.org/0000-0002-2177-2961
This paper aims at exploring the economy-wide impacts of achieving net-zero greenhouse gas (GHG) emissions by 2050 in Thailand. This study developed a recursive dynamic Asia-Pacific Integrated Model/Computable General Equilibrium (AIM/CGE) model of Thailand for the assessment. The macroeconomic impacts of Thailand’s net-zero GHG emission targets by 2050 are analyzed relative to its 2-degree pathway. Results indicate that Thailand should put more effort in GHG mitigation actions to achieve the emissions peak by 2025 and net-zero GHG emissions by 2050. Improvement in energy efficiency; increasing electrification; expanding renewable energy utilization; deploying green hydrogen; bioenergy; carbon capture, utilization, and storage (CCUS); and behavioral changes are the key identified pillars of decarbonization to drive Thailand towards the pathways of net-zero emissions by 2050. Results show that there is a possibility of attaining net-zero GHG emissions by 2050 at the expense of an economic loss for Thailand. The gross domestic product (GDP) loss would be as high as 8.5% in 2050 to attain net-zero emissions. Lower productivity from the energy intensive industries such as petroleum refineries, coal and lignite mining, manufacturing industries, and transport are the key contributing sectors to the GDP losses. The price of carbon mitigation would shoot up to reach USD 734 per tCO2eq in 2050 from USD 14 per tCO2eq in 2025 to attain net-zero emissions in 2050.
Thailand’s net-zero emissions by 2050: analysis of economy-wide impacts
https://orcid.org/http://orcid.org/0000-0002-0718-0687
https://orcid.org/http://orcid.org/0000-0001-5139-823X
https://orcid.org/http://orcid.org/0000-0002-1494-6601
https://orcid.org/http://orcid.org/0000-0003-2712-5981
https://orcid.org/http://orcid.org/0000-0003-4944-4748
https://orcid.org/http://orcid.org/0000-0002-2177-2961
This paper aims at exploring the economy-wide impacts of achieving net-zero greenhouse gas (GHG) emissions by 2050 in Thailand. This study developed a recursive dynamic Asia-Pacific Integrated Model/Computable General Equilibrium (AIM/CGE) model of Thailand for the assessment. The macroeconomic impacts of Thailand’s net-zero GHG emission targets by 2050 are analyzed relative to its 2-degree pathway. Results indicate that Thailand should put more effort in GHG mitigation actions to achieve the emissions peak by 2025 and net-zero GHG emissions by 2050. Improvement in energy efficiency; increasing electrification; expanding renewable energy utilization; deploying green hydrogen; bioenergy; carbon capture, utilization, and storage (CCUS); and behavioral changes are the key identified pillars of decarbonization to drive Thailand towards the pathways of net-zero emissions by 2050. Results show that there is a possibility of attaining net-zero GHG emissions by 2050 at the expense of an economic loss for Thailand. The gross domestic product (GDP) loss would be as high as 8.5% in 2050 to attain net-zero emissions. Lower productivity from the energy intensive industries such as petroleum refineries, coal and lignite mining, manufacturing industries, and transport are the key contributing sectors to the GDP losses. The price of carbon mitigation would shoot up to reach USD 734 per tCO2eq in 2050 from USD 14 per tCO2eq in 2025 to attain net-zero emissions in 2050.
Thailand’s net-zero emissions by 2050: analysis of economy-wide impacts
Sustain Sci
Rajbhandari, Salony (author) / Winyuchakrit, Pornphimol (author) / Pradhan, Bijay Bahadur (author) / Chaichaloempreecha, Achiraya (author) / Pita, Piti (author) / Limmeechokchai, Bundit (author)
Sustainability Science ; 19 ; 189-202
2024-01-01
14 pages
Article (Journal)
Electronic Resource
English
Asia-Pacific Integrated Model (AIM) , Computable General Equilibrium model , Greenhouse gas emissions , Net-zero emissions , Thailand Environment , Environmental Management , Climate Change Management and Policy , Environmental Economics , Landscape Ecology , Sustainable Development , Public Health , Earth and Environmental Science
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