In an era where the global climate crisis grows increasingly severe, environmental issues have shifted from traditional social campaigns to critical conditions for a nation's survival and economic competitiveness. At the forum EARTH JUMP 2026, under the compelling panel "Valuing the Veins of Thailand: NCA as a Shield for National Economic Resilience" a significant milestone was marked by a new collaboration among three key partners: the Office of the National Economic and Social Development Council (NESDC), the World Bank, and the KASIKORNTHAI FOUNDATION (KTF). The three organizations signed a Memorandum of Understanding (MOU) aiming to collaboratively study and develop a Natural Capital framework aligned with national development strategies. Far from traditional conservation, this partnership aims to elevate national watershed management in the "Nan Sandbox" into a living learning space, trialing international economic tools to pave the way for balanced and sustainable growth.
Forest and environmental conservation initiatives were often viewed simply as Corporate Social Responsibility (CSR) activities dependent on donations. Yet, economic data reveals that over one-third of Thailand's GDP, along with the livelihoods of millions of citizens, directly relies on natural resources and ecosystems. Despite this, these invaluable natural assets have never been factored into traditional economic indicators, complicating strategic resource management. The entry of this tripartite alliance introduces a new dimension by bringing a world-class tool like Natural Capital Accounting (NCA) to study feasibility and conduct practical pilot applications in Nan Province, turning ecosystem services into tangible economic metrics.
Moving to the national policy level, Mr. Danucha Pichayanan, Secretary-General of the NESDC, stated: " In shaping Thailand's development direction, it is vital that we prioritize the value and management of our natural resources. This partnership serves as a key driver, equipping us with the necessary insights to integrate natural capital into policy decision-making and national planning. By doing so, we can send clear signals to the business sector, enabling them to adapt to climate change and transition toward a low-carbon economy in an effective and timely manner."
Meanwhile, Mr. Pipit Aneaknithi, Chairman Global Sustainability, KASIKORNBANK, on behalf of KTF, emphasized the crucial link between ground-level action and national frameworks: "Our role is to bridge the gap between national policy and local reality. Through our work in the Nan Sandbox, we've learned that lasting environmental solutions must be built from the ground up, starting with health, education, and community livelihoods. This MOU provides the framework to scale that success, acting as a policy blueprint that supports and enables various sectors working on social development to adapt and replicate this model to restore vital natural capital across the country."
Highlighting the global financial perspective, Ms. Melinda Good, Division Director for Thailand and Myanmar, World Bank, added: "Thailand's natural capital can be a powerful driver of innovation, helping unlock the financing, investment confidence, and resilience needed for long-term economic growth."
The compelling momentum behind this collaboration lies in the unique synergy of the three participants. The World Bank serves as the knowledge partner, providing international frameworks to ensure Thailand's natural capital assessment aligns with global standards of transparency. Meanwhile, NESDC, as the national strategic planning agency, will study and extract lessons from the pilot area. These empirical inputs will inform the development of the 14th National Economic and Social Development Plan, guiding future policy support and appropriate incentive designs. Grounding this policy on the frontlines is the KASIKORNTHAI FOUNDATION. KTF provides a living, operational sandbox in Nan Province that is ready to test global methodologies, proving that when communities achieve secure livelihoods, the surrounding headwater forests can be sustainably preserved alongside them.
The historic signing ceremony serves as the first milestone in a collaborative journey. It steers Thailand toward balanced, environment-friendly economic growth where forest and watershed conservation is no longer viewed as a cost, but as an economic opportunity and a shared responsibility where every sector reaps mutual benefits.