ADB Supports Thailand’s Green, Social, and Sustainability Bonds for COVID-19 Recovery

The Asian Development Bank (ADB) is assisting the Government of Thailand in designing, issuing, and monitoring innovative capital market initiatives as part of the country’s recovery from the coronavirus disease (COVID-19) pandemic in a manner aligned with the 2015 Paris Agreement and the UN Sustainable Development Goals.

ADB’s technical assistance through the Association of Southeast Asian Nations’ (ASEAN) Catalytic Green Finance Facility (ACGF) includes bond framework development and external reviews to help Thailand’s Ministry of Finance (MOF) and National Housing Authority (NHA) design green, social, and sustainability bonds based on global and ASEAN standards and best practices. ADB is also helping the government develop internal systems to monitor the use of bond proceeds and prepare post-issuance reports. These measures will help lay the groundwork for more green, social, and sustainability bond issuances.

The initiatives include support for Thailand’s first sustainability bond, a first-of-a-kind issuance by a sovereign in Southeast Asia. Issued by MOF’s Public Debt Management Office in two tranches totaling THB30 billion (about $964 million) on 13–14 August, the bond was oversubscribed three times, and its proceeds will be used to finance green infrastructure through the Mass Rapid Transit Orange Line (East) Project. It will also fund social impact projects supporting the country’s recovery from the COVID-19 pandemic, such as public health measures, job creation through small and medium-sized enterprises, and local public infrastructure development with social and environmental benefits.

ADB also supported the NHA’s maiden social bond, which was issued on 23 September in three tranches totaling THB6.8 billion. It is among the first social bonds issued by a state-owned enterprise in Southeast Asia. The bond will finance affordable housing in Thailand and promote sustainable communities. Other green and sustainability bonds are in development.

“We are delighted to support these pioneering initiatives by the Government of Thailand,” said Country Director of ADB Thailand Resident Mission Hideaki Iwasaki. “These social and sustainability bonds will help the country recover from COVID-19 by focusing on long-term, green, and inclusive infrastructure.”

“As countries face an increasing financing gap for climate-resilient infrastructure, especially following the COVID-19 pandemic, it is essential for governments to tap into domestic and global capital markets with green and sustainability bonds,” said ACGF Unit Head Anouj Mehta.

ADB is preparing a new country partnership strategy to support Thailand’s economic recovery with a pipeline of green and climate-resilient infrastructure projects. The strategy will also focus on rebuilding regional cooperation through the Greater Mekong Subregion program and other platforms.

ADB’s Private Sector Operations Department has been supporting green finance development in Thailand. Projects include a THB5 billion purchase of B.Grimm Power Public Company Limited’s initial 5-year and 7-year green bonds in 2018. These were the first certified climate bonds to be issued in Thailand. ADB purchased a THB3 billion tranche within Energy Absolute Public Company Limited’s first green bond issuance of THB10 billion in 2019.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

UNWTO tracks travel recovery

As more countries around the world start easing travel restrictions, the UNWTO has launched a new tourism recovery tracker to support the sector’s rebound from the Covid-19 pandemic.

Touted as the “most comprehensive tourism dashboard to date”, the tracker is the result of a partnership between the private sector and international organisations, including the ICAO, ForwardKeys, STR, Sojern and AirDNA.

Available for free, it covers key tourism performance indicators by month, regions and sub-regions, allowing for a real-time comparison of the sector recovery across the world and industries.

The UNWTO Tourism Recovery Tracker compiles all the relevant data in one place, giving governments and the private businesses the ability to track the recovery of tourism at global and regional level, alongside information on the top destinations for international tourism.

The tracker includes data on international tourist arrivals, seat capacity in international and domestic air routes, air travel bookings, hotel searches and bookings, occupancy rates and demand for short-term rentals.

According to UNWTO latest World Tourism Barometer, the massive drop in international travel demand over the period from January to June 2020 translates into a loss of 440 million international arrivals and about US$460 billion in export revenues from international tourism. This is around five times the loss in international tourism receipts recorded in 2009 amid the global economic and financial crisis.

Mekong Tourism & SUNx Malta Announce Scholarships for Climate Friendly Travel

Supporting Students & Professionals From The Greater Mekong Subregion (GMS) countries – Cambodia, the People’s Republic of China, Lao PDR, Myanmar, Thailand, and Viet Nam.

Bangkok, September 22, 2020: Thanks to Malta’s Minister for Tourism and Consumer Protection, Hon. Julia Farrugia Portelli, and the Institute for Tourism Studies Malta, SUNx Malta and The Mekong Tourism Coordinating Office (MTCO) are offering 5 scholarships for a new online Diploma in Climate Friendly Travel.

 

This Diploma is the first of its kind and will train students and professionals to support companies and communities in the Travel & Tourism industry in adjusting their operations towards the goal of becoming carbon neutral, in the face of the global challenge of Climate Change.

 

“Through these scholarships and this institute of Climate Friendly Travel Malta is committing itself in this sector and has become a global centre for Climate Friendly Travel,” stated Minister Julia Farrugia Portelli.

 

Professor Geoffrey Lipman, President of SUNx Malta and former Assistant Secretary-General of the UNWTO, said:

 

“We have formed a team of around 25 deeply-informed lecturers on the subject, to provide online interactive lessons in this diploma. This will help them for future climate-friendly jobs in transport and sustainable hospitality, to be policymakers for governments or destination management. They will discover why it is essential to have Climate Friendly Travel and to do our part in the global response for the existing climate crisis. They shall also learn to consider the transformation of the travel and tourism sector in light of the UN Sustainable Development Goals, the European Green Deal and the Paris Climate Accord. In the next 10 years, every travel and tourism business and the community will shift towards climate-friendly travel, whether it is through informed decisions, consumer pressure or government regulations. It is why those career opportunities will multiply greatly,” stated Professor Lipman.

 

Jens Thraenhart, Executive Director of MTCO said:

 

“We are delighted to be partnering with SUNx Malta to promote this opportunity to people in the Mekong that recognise the existential threat of Climate Change and the essential role that Travel & Tourism has to play in transforming to become Climate Friendly. As a region directly affected by the changing climate, countries of The Greater Mekong Subregion are at most risk, and it is essential that they develop Climate Resilient strategies. This initiative, taught by some of the leading authorities in this field will train the next generation to implement this change.”    

 

Interested applicants may register for this scholarship at

https://www.thesunprogram.com/climate-friendly-travel-diploma-mekong      

 

Individuals who are interested in this programme but are not eligible to apply for this scholarship, may apply for the study programme here

 

_________________________________________________________________

 

Notes to Editors

 

The Strong Universal Network SUNx is a global Travel & Tourism Climate Response system, designed to act as a catalyst for the sector to develop Climate Friendly Travel – Paris 1.5 and SDG linked: and a conduit to the UNFCCC driven New Climate Economy. Operating globally from Malta, with a Registry of Climate Neutral Ambitions; a Climate Friendly Travel Diploma and an SDG17 led Climate Champions outreach program. Established as legacy to Maurice Strong, Climate Activist and Sustainable Development Pioneer. In 2019, through a partnership with Malta’s Ministry for Tourism and Consumer Protection, and Malta Tourism Authority (MTA) SUNx Malta was created to establish Malta as a Global Centre for Climate Friendly Travel. 

 

For more information, please contact:

Olly Wheatcroft, SUNx Program Manager

olly@thesunprogram.com +44 (0) 7765 132408

 

 

About the Mekong Tourism Coordinating Office:
The Mekong Tourism Coordinating Office (MTCO), located in Bangkok, was set up with funding from the governments of the six Greater Mekong Sub-region (GMS) countries – Cambodia, the People’s Republic of China, Laos, Myanmar, Thailand, and Viet Nam. The MTCO, which operates on annual financial contributions from each GMS country, acts as the secretariat for the GMS Tourism Working Group, comprising of senior officials of the six GMS countries’ National Tourism Organizations, to coordinate and facilitate sustainable tourism development of the GMS, and promotion of the Mekong region as a single travel and tourism destination, in collaboration with the public and private sectors. The MTCO manages its award-winning MekongTourism.org digital platform as a one-stop platform to promote responsible and sustainable tourism in the region, as well as the annual Mekong Tourism Forum, whose hosting is rotated among GMS countries.

Please visit www.MekongTourism.org for more information.


About Destination Mekong:
Destination Mekong was created in 2017 to promote the Mekong region, comprising of Cambodia, PR China (Provinces of Guangxi and Yunnan), Lao PDR, Myanmar, Thailand and Viet Nam as a single tourism destination to stimulate responsible and sustainable development and investment, and drive inclusive growth. Endorsed by the Mekong Tourism Coordinating Office and aligned with the mandate of the regional collaborative tourism framework of the six-member governments of the Greater Mekong Sub-region, Destination Mekong executes targeted projects and initiatives, including Mekong Moments, Mekong Mini Movie Festival, Mekong Innovative Startups in Tourism (MIST), Experience Mekong Collection, Mekong Heroes, and Mekong Trends, with feedback from the Mekong Tourism Advisory Group (MeTAG) and via public-private partnership investment structure, led by UNWTO Affiliate Member Chameleon Strategies. 

Please visit www.DestinationMekong.com for more information.

 

Virtual Destination Mekong Summit provides actionable insights for travel and tourism industry during COVID-19

PRESS RELEASE

FOR IMMEDIATE DISTRIBUTION

DESTINATION MEKONG SUMMIT

Virtual Destination Mekong Summit provides actionable insights for travel and tourism industry during COVID-19

Session videos now available online to watch for free

Bangkok, September 8, 2020: The 1st Destination Mekong Summit was organized virtually by UNWTO Affiliate Member Strategies as a lead partner of Destination Mekong in partnership with the Mekong Tourism Coordinating Office on 25 August 2020. Nearly 1,500 registered attendees from over 100 countries joined the virtual conference on Zoom with an additional 500 following the live stream on YouTube and the event website.

“With the topic “Balanced Tourism Recovery for a Better Future”, the Summit had the objective to answer burning questions, offer actionable suggestions on how to survive these challenging times, and best prepare for an accelerated recovery.”, explained Mr. Jens Thraenhart, Executive Director of the Mekong Tourism Coordinating Office, and chair of the summit.  Speakers from the public and private sectors included Tourism Ministers and CEOs from travel companies, academia, the media, and NGOs, as well as members of the Mekong Tourism Advisory Group (MeTAG).

With a condensed content concept, DMS was structured in twelve short chapters starting with insights about “The Disruption” by Dr. Simon Hudson, from the University of South Carolina, author of the upcoming book “COVID-19 & Travel”. The former Ministers of Tourism of Thailand and Myanmar, H.E. Mr. Weerasak Kowsurat and H.E. Mr. Htay Aung respectively, engaged in a discussion about learnings from past crisis, moderated by Mr. Xu Jing, former Director of Asia Pacific of the World Tourism Organization (UNWTO). This discussion was followed by a panel of senior government officials moderated by Mr. Steven Schipani of the Asian Development Bank, including Dr. Thong Khon, Minister of Tourism of Cambodia,  Dr. Sieu Ha Van, Vice Chairman of the Vietnam National Administration of Tourism, and Mr. Sounh Manivong, Director General of the Ministry of Information, Culture, and Tourism of Lao PDR. Learnings about domestic tourism opening in China by representatives from the private sector and the Ministry of Culture and Tourism of PR China, as well as recommendations about communications by Deputy Governor of the Tourism Authority of Thailand, Mr. Tanes Petsuwan and Chief Commercial Officer of Minor Hotels, Mr. Michael Marshall provided action-oriented insights. The following chapters looked into recovery efforts and opportunities for governments, key source markets with a focus on Japan by JTB and China by Dragon Trail, the hotel and aviation sectors as key industry pillars by IATA and STR respectively, and the impact on sustainability moderated by GSTC. Two sessions were conducted in partnership with Horwath HTL and presented key takeaways for businesses.

The final chapters addressed how collaboration can help businesses in the recovery discussing strategies with Accor and Yaana Ventures, as well as a look at the future with Dr. Ian Yeoman, author of “Tourism Futures” from the Victoria University of Wellington.

A summary chapter was lead by Prof. Geoffrey Lipman from The SunX Program with global and regional tourism leaders including H.E. Ms. Gloria Guevera, CEO of the World Travel and Tourism Council (WTTC), H.E. Ms. Kobkarn Wattanavrangkul, former Minister of Tourism and sports of Thailand, H.E. Dr. Taleb Rifai, former Secretary General of the World Tourism Organization (UNWTO), and Dr. Mario Hardy, CEO of the Pacific Asia Travel Association (PATA). The panel debated the need for balanced tourism recovery and the integration of climate change as an existential threat post COVID-19.

The Virtual Destination Mekong Summit was also the launch-pad of the Mekong Memories campaign and Mekong Deals platform, as well as the announcement of the 2020 Experience Mekong Showcases and the 1st Mekong Hero recognition to Ms. Potjana Suansri, founder of the Thailand Community-based Tourism Institute.

The Virtual Destination Mekong Summit was co-emceed by Dr. Jutamas Wisangsing, former chair of PATA Thailand, and Mr. Jens Thraenhart, out of a pop-up studio at co-working space Gaysorn Village in Bangkok, Thailand.

Details of the event, as well as recordings of the sessions, can be found at https://www.destinationmekong.com/dms2020/.

About the Mekong Tourism Coordinating Office:


The Mekong Tourism Coordinating Office (MTCO), located in Bangkok, was set up with funding from the governments of the six Greater Mekong Sub-region (GMS) countries – Cambodia, the People’s Republic of China, Laos, Myanmar, Thailand, and Viet Nam. The MTCO, which operates on annual financial contributions from each GMS country, acts as the secretariat for the GMS Tourism Working Group, comprising of senior officials of the six GMS countries’ National Tourism Organizations, to coordinate and facilitate sustainable tourism development of the GMS, and promotion of the Mekong region as a single travel and tourism destination, in collaboration with the public and private sectors. The MTCO manages its award-winning MekongTourism.org digital platform as a one-stop platform to promote responsible and sustainable tourism in the region, as well as the annual Mekong Tourism Forum, whose hosting is rotated among GMS countries.

Please visit www.MekongTourism.org for more information.

 

 

About Destination Mekong:

Destination Mekong was created in 2017 to promote the Lancang-Mekong region, comprising of Cambodia, PR China (Provinces of Guangxi and Yunnan), Lao PDR, Myanmar, Thailand and Viet Nam as a single tourism destination to stimulate responsible and sustainable development and investment, and drive inclusive growth. Endorsed by the Mekong Tourism Coordinating Office and aligned with the mandate of the regional collaborative tourism framework of the six-member governments of the Greater Mekong Sub-region, Destination Mekong executes targeted projects and initiatives, including Mekong Moments, Mekong Mini Movie Festival, Mekong Innovative Startups in Tourism (MIST), Experience Mekong Collection, Mekong Heroes, and Mekong Trends, with feedback from the Mekong Tourism Advisory Group (MeTAG) and via public-private partnership investment structure, led by UNWTO Affiliate Member Chameleon Strategies.

More information at: www.DestinationMekong.com