Thailand's Public Debt Management Office is launching Sustainability-Linked Bonds Series 2 (SLB425A) on September 17, with a 15–30 billion baht issuance tied to two climate and biodiversity targets: reducing net greenhouse gas emissions to ≤152 MtCOxe by 2035 (47% reduction from 2019 baseline) and expanding protected/conservation areas to ≥30% by 2030. Interest rates will adjust by ±2.5 basis points per target met or missed, creating a market-based incentive for government agencies to coordinate on sustainability goals. This is Thailand's second SLB issuance and aims to deepen the local debt market while supporting national climate commitments.