LEGAL MEASURES TO PROMOTE THE BIO-CIRCULAR-GREEN ECONOMY MODEL

Abstract

Due to increasing aggravating climate change, parties to the United Nations Framework Convention on Climate Change (UNFCCC) session 26th (COP26) aim to achieve net zero greenhouse gases emissions by 2050 to neutralize global warming. This has led to setting of environmental standards internationally, especially in the European Union, such as the Carbon Border Adjustment Mechanism (CBAM) for certain products. Stipulating conditions is seen as an obstacle to international trade, directly affecting the export business in Thailand. This article studies legal measures to promote the Bio-Circular-Green (BCG) economy model by removing international trade barriers in future and enhancing Thai entrepreneurial ability and competitiveness through transition to new sustainable development business models. Legal enforcement patterns in the Federal Republic of Germany (FRG), Japan, the People's Republic of China (PRC) and the Republic of Korea (KR) were examined to formulate guidelines applicable for a legal framework to promote the BCG economy model in Thailand.

     Results were that the FRG, Japan, PRC and KR have diverse laws guiding sustainable development to build an eco-friendly economy and heighten societal quality of life. The FRG, Japan and PRC have enacted legislation focusing primarily on promoting the circular economy. The KR has enacted a broader scope of green growth and low-carbon laws, encompassing economic development while maintaining environmental balance and improving societal quality of life consistent with general green economy principles; these encompass bioeconomy and circular economy operations. The green economy concept determines the direction of efficient management and resource use, reducing social inequality while creating economic growth. This promotes economic, social, and environmental sustainable development. By contrast, Thailand has only a policy to promote the BCG economy development model for sustainable development. To continuously, tangibly and enforceably motivate BCG economy development, Thailand requires a basic legal framework to define the direction of actions; roles, duties and cooperative input of societal stakeholders, including the government, private sector, and citizenry, should be outlined. To achieve this, legal measures should be formulated to promote and support the BCG economy, including use of economic instruments to create incentives and grant rights imposing sanctions on fraudulent or environmentally damaging greenwashing attempts.