PTT to plant 86,173 rai of forests in 2023

PTT President and CEO Auttapol Rerkpiboon said on Wednesday that the company's reforestation project aims to rehabilitate the ecosystem and increase natural resources for absorbing carbon dioxide.

He said PTT aims to reforest 2 million rai nationwide by 2030, of which 1 million rai will come from PTT and the other 1 million rai from its subsidiaries.

Combined with the existing 1 million rai, the forest would absorb around 20% of Thailand’s total greenhouse gas emissions or more than 4.15 million tons of carbon dioxide equivalent per year, he said.

He added that the forest will help develop watershed areas, boost biodiversity and create economic value for the community worth more than 1 million baht per year.

Auttapol said the project had recently been implemented in three national forests in Lop Buri, namely Wang Phloeng, Muang Khom and Lam Narai. A total of 413 rai of forest was allocated by the Royal Forest Department, he added.

PTT aims to add 86,173 rai of forest nationwide this year, he said, adding that the company will register its forest on the Thailand Greenhouse Gas Management Organisation's Thailand Voluntary Emission Reduction Programme (T-VER).

Apart from growing 25 tree species in those areas, the company also built a weir to boost biodiversity and benefit saplings during the wet season.

He added that the company will trade carbon credits of 45 tonnes of carbon dioxide equivalent as compensation.

PTT has strictly adhered to its mission of maintaining energy security, as well as taking care of society and the environment over the past 45 years, he said.

The company is ready to support Thailand's bid to reduce greenhouse gas emissions by developing business best suited to a low-carbon society, he added.