On 6 June 2024, H.E. Mr Maris Sangiampongsa, Minister of Foreign Affairs, attended the inaugural Indo-Pacific Economic Framework (IPEF) Clean Economy Investor Forum in Singapore, an important platform of collaboration under IPEF to promote investments in sustainable infrastructure and climate technology projects. Also attending were other ministers and high-level representatives from 13 IPEF Partners including Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, the United States, and Viet Nam, as well as over 300 high-profile public and private sector executives,
in particular leading investors and investment funds from the United States and other IPEF Partners.

The Minister of Foreign Affairs paticipated in a panel discussion on “Catalysing and Scaling Climate Technology: Bridging the gap between Innovators and Investor” together with H.E. Mr Todd McClay, Minister for Trade of New Zealand, Mr Mark Wiedman, Senior Managing Director of BlackRock, and Ms Verena Lim, Asia CEO of MacQuarie Group. The Foreign Minister highlighted Thailand’s policy vision and measures in deploying investments and developing climate techs with an appropriate integrated strategy that combines both demand-side and supply-side measures in responding to economic development and rapidly changing technology advancements. To that end, the Foreign Minister shared Thailand’s experience on advancing the transition to electric vehicles (EVs) and stressed the importance of strengthening public-private partnerships for advancing climate tech industries.

On this occasion, the Forum provided opportunities for business and capital matchmaking on sustainable infrastructure and climate tech projects between prospective investors and IPEF project developers from both public and private sectors, including startup entrepreneurs. A total of 69 investment-ready and future pipeline sustainable infrastructure projects amounted to USD 23 billion. Twenty investment-ready projects worth about USD 6 billion were presented to prospective investors. On the infrastructure front, Thailand’s project proponents from the Department of Highways and PTT Public Company Limited were invited to present projects on the Uttaraphimuk Elevated Tollway Extension from Rangsit to Bang Pa-in and the Gas Separation Plant in Rayong Province to optimise Carbon Capture and Utilisation (CCU) respectively. On the climate tech front, 4 Thai climate tech startups selected under the Indo-Pacific Climate Tech 100 were invited to pitch their projects for funding, including Alto Tech Global (smart energy management systems for carbon-zero office buildings and factories), Inno Green Tech (sustainable wastewater treatment innovations), Carbonwize (carbon emissions measurement and monitoring system), and PAC Corporation Thailand (energy-saving innovations for water heaters and air-conditioners).

The inaugural IPEF Clean Economy Investor Forum formed part of cooperative activities initiated to deliver tangible outcomes and advance the objectives of IPEF Pillar III on Clean Economy with a view to mobilise financing in support of sustainable infrastructure and climate tech projects in the Indo-Pacific region. Thailand’s participation at this Investor Forum was an opportunity to highlight its green transition vision and potential for green investment opportunities, mobilize financing options, and build network with leading institutional investors from the United States and other IPEF Partners.