On 17 June 2025, the Royal Thai Embassy in Brussels, together with Chulalongkorn Business School and Luxembourg Stock Exchange, organised “High-level Seminar on Promoting ESG Bond Development in Thailand and Sustainable Finance Partnership with Luxembourg” and the “Workshop on GSSS/ESG Bonds, a pioneering tool of sustainable finance” at Chulalongkorn Business School, with a view to raising public awareness on latest policies and plans of the entities concerned in promoting ESG bond in Thailand as well as opportunities to work with Luxembourg and international financial institutions in this endeavour. Speakers from Public Debt Management Office, Stock Exchange of Thailand, Securities and Exchange Commission, Thai Bond Market Association, Asian Development Bank, and Luxembourg Stock Exchange, have substantively contributed to the session which was well attended by around 70 participants from corporates, banks, financial institutions, verifiers, government agencies, and academic institutions in Thailand.

          At the seminar, speakers highlighted the potential of Thai bond market as a thriving one thanks to its strong financial ecosystem and infrastructure as well as the leading role of the government in spearheading the SSB and SSLB in 2020 and 2024 respectively which has boosted confidence in ESG bond of private entities. However, many important challenges still remain, especially in finding eligible activities, applying taxonomy, short of external reviewers, and lack of top management’s will. In the light of this, the cooperation with Luxembourg, in the areas such as capacity building, providing ESG information platform and consultation, could support Thailand to overcome those shortcomings. Thailand and Luxembourg are now finalising the MoU on Financial Cooperation and preparing to list Thailand’s SLB launched last November in Luxembourg Green Exchange soon.