The ‘Financing the Transition: Green Solutions for Hotels’ project was officially launched on Tuesday (Apr 21) at the Pearl Phuket Hotel by Bank of Thailand Deputy Governor Rung Mallikamas, in collaboration with the Department of Climate Change and Environment, the Tourism Authority of Thailand and a network of commercial banks.
Ms Rung said the initiative marks a “significant step” in positioning Phuket as a model city for sustainable hotels while strengthening the global competitiveness of Thailand’s tourism sector.
The project aims to bring together government agencies, financial institutions and private operators to support hotels in transitioning to environmentally friendly business models. Support will include improved access to financing, green technology, carbon management systems and internationally recognised certifications.
The programme builds on the success of the broader ‘Financing the Transition’ scheme launched in 2024, which has already provided more than B163 billion in loans to over 700 businesses nationwide. The next phase will focus specifically on the hotel sector, a key driver of Thailand’s tourism economy that is facing mounting pressure from both changing traveller expectations and stricter international environmental regulations.
Industry stakeholders in Phuket have responded positively. Angkhana Thaneswisetsakul, Vice President of the Sustainable Tourism Development Foundation, said environmentally friendly hotels are no longer optional.
“Green hotels are not just a trend, but a necessity,” she said, noting that data from global booking platforms indicates more than 80% of travellers now prioritise environmentally responsible accommodation.
She added that adopting sustainable practices can also deliver clear financial benefits, with hotels able to cut operating costs by 20-30% through improved energy and resource efficiency, while gaining access to higher-value markets, particularly European tourists with strict environmental requirements.
Under the project, participating hotels will be supported with tools such as carbon footprint assessment systems, including CF-Hotels, as well as access to energy-saving technologies and guidance on meeting Thailand’s ‘Green Hotel Plus’ standard and international benchmarks such as the IFC’s EDGE green building certification.
Officials stressed that the initiative is particularly critical for Phuket, one of Thailand’s leading international tourism destinations, where environmental sustainability is closely tied to long-term economic success.
However, hotel operators have called for additional government support, particularly in training and reducing the cost of certification, to accelerate wider adoption across the industry.
The ‘Green Solutions for Hotels’ project is expected to serve as a starting point for a broader transformation of Thailand’s tourism ecosystem, using Phuket as a test case for achieving a balance between economic growth, environmental protection and long-term quality of life.