Billions of baht in loans for AI data centers are being labeled "green" to reduce borrowing costs, but lack clear certification standards. Only in April 2026 did nine global organizations form the Greening AI Data Centers Coalition to define what "green" means in this context. The article warns that investors—including pension funds and ESG-managed portfolios—are sacrificing yield based on unverified claims. Key questions investors should ask: Does documentation show fund destination? Are post-deployment reports provided? Who independently certifies compliance? Without rigorous third-party verification (standards, oversight, penalties), the green label remains marketing, not substance.