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SEC seeks public comments on regulatory framework for Transition Bonds and Thailand Amber Bonds



Friday 10 April 2026 | No. 76 / 2026


Bangkok, 10 April 2026 – The Securities and Exchange Commission (SEC) is seeking public comments on the proposed regulatory framework for transition finance to support Transition Bonds and Thailand Amber Bonds, with the aim of facilitating fundraising by the business sector toward the green economy. The proposed framework also includes enhancements to the ESG Bond regulations to improve disclosure requirements.

In recent years, environmental, social, and governance (ESG) considerations have been increasingly promoted at both national and international levels. Thailand has announced its target to achieve net zero greenhouse gas emissions by 2050, underscoring the important role of sustainable finance in supporting the business sector in adapting and operating in alignment with this goal. However, promoting green activities or the green economy alone may not be sufficient. Transition finance therefore serves as another important mechanism to support businesses in adapting and transitioning toward green activities, particularly in hard to abate sectors.

Recognizing the importance of transition finance, the SEC aims to support the development of transition related fundraising products in the Thai capital market. The SEC has therefore proposed regulatory requirements to support the issuance and offering of debt instruments whose proceeds are intended to promote the country’s transition, in alignment with internationally recognized practices. In addition, the SEC proposes amendments to the ESG Bond regulations to enhance disclosure standards. The SEC has consequently invited public comments on the proposed regulatory framework, with key elements as follows:

1. Regulatory requirements to support the issuance and offering of debt instruments with proceeds earmarked for promoting transition, comprising two types:

  1.1 Thailand Amber Bonds – debt instruments whose proceeds are designated for investment in “amber” activities, as defined under the Thailand Taxonomy, and which reference internationally recognized ESG Bond standards.

  1.2 Transition Bonds – debt instruments whose proceeds are designated for investment in projects aligned with an issuer’s transition strategy or transition plan, with reference to internationally recognized Transition Bond standards.

  2. Enhancements to ESG Bond regulations to elevate disclosure standards, requiring issuers to prepare and disclose a bond framework and appoint an external review provider to provide an opinion or assurance that the framework is aligned with the referenced standards, guidelines, or taxonomy recognized at the international or national level.

The consultation paper is available on the SEC website (www.sec.or.th) at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1149 and on the Legal Hub (https://law.go.th/) at https://www.law.go.th/listeningDetail?survey_id=Njg2NERHQV9MQVdfRlJPTlRFTkQ= 
Stakeholders and interested parties are invited to submit comments through the SEC website or by email: debt@sec.or.th. The public hearing ends on 11 May 2026. In addition, following the issuance of the above mentioned regulatory requirements, the SEC will organize seminars to enhance knowledge and understanding of transition finance and the issuance of such products for fundraisers and relevant stakeholders.

Note:

* Activities that continue to generate greenhouse gas emissions but at levels determined in accordance with science-based principles, aligned with climate change mitigation targets under the Paris Agreement, as referenced in the Thailand Taxonomy.












Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 76 / 2026 Friday 10 April 2026
SEC seeks public comments on regulatory framework for Transition Bonds and Thailand Amber Bonds

Bangkok, 10 April 2026 – The Securities and Exchange Commission (SEC) is seeking public comments on the proposed regulatory framework for transition finance to support Transition Bonds and Thailand Amber Bonds, with the aim of facilitating fundraising by the business sector toward the green economy. The proposed framework also includes enhancements to the ESG Bond regulations to improve disclosure requirements.

In recent years, environmental, social, and governance (ESG) considerations have been increasingly promoted at both national and international levels. Thailand has announced its target to achieve net zero greenhouse gas emissions by 2050, underscoring the important role of sustainable finance in supporting the business sector in adapting and operating in alignment with this goal. However, promoting green activities or the green economy alone may not be sufficient. Transition finance therefore serves as another important mechanism to support businesses in adapting and transitioning toward green activities, particularly in hard to abate sectors.

Recognizing the importance of transition finance, the SEC aims to support the development of transition related fundraising products in the Thai capital market. The SEC has therefore proposed regulatory requirements to support the issuance and offering of debt instruments whose proceeds are intended to promote the country’s transition, in alignment with internationally recognized practices. In addition, the SEC proposes amendments to the ESG Bond regulations to enhance disclosure standards. The SEC has consequently invited public comments on the proposed regulatory framework, with key elements as follows:

1. Regulatory requirements to support the issuance and offering of debt instruments with proceeds earmarked for promoting transition, comprising two types:

  1.1 Thailand Amber Bonds – debt instruments whose proceeds are designated for investment in “amber” activities, as defined under the Thailand Taxonomy, and which reference internationally recognized ESG Bond standards.

  1.2 Transition Bonds – debt instruments whose proceeds are designated for investment in projects aligned with an issuer’s transition strategy or transition plan, with reference to internationally recognized Transition Bond standards.

  2. Enhancements to ESG Bond regulations to elevate disclosure standards, requiring issuers to prepare and disclose a bond framework and appoint an external review provider to provide an opinion or assurance that the framework is aligned with the referenced standards, guidelines, or taxonomy recognized at the international or national level.

The consultation paper is available on the SEC website (www.sec.or.th) at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1149 and on the Legal Hub (https://law.go.th/) at https://www.law.go.th/listeningDetail?survey_id=Njg2NERHQV9MQVdfRlJPTlRFTkQ= 
Stakeholders and interested parties are invited to submit comments through the SEC website or by email: debt@sec.or.th. The public hearing ends on 11 May 2026. In addition, following the issuance of the above mentioned regulatory requirements, the SEC will organize seminars to enhance knowledge and understanding of transition finance and the issuance of such products for fundraisers and relevant stakeholders.

Note:

* Activities that continue to generate greenhouse gas emissions but at levels determined in accordance with science-based principles, aligned with climate change mitigation targets under the Paris Agreement, as referenced in the Thailand Taxonomy.