Thailand, Singapore experts explore collaboration in sustainability
In a bid to address pressing climate challenges, experts from Thailand and Singapore convened for a panel discussion hosted by the Thai embassy in Singapore on Monday.
The seminar, titled “Opportunities for Cooperation in BCG Business with Singapore”, explored innovative collaboration in the bio-circular-green (BCG) economy.
Supported by Thailand’s Foreign Ministry, the event featured four speakers, who discussed sustainable development and climate action.
The panellists emphasised that deepening collaboration would enhance the green transition, resulting in mutual benefits for both nations as they strive for sustainability and climate resilience.
Koh Min Ee, director of the Environment Policy Division at Singapore's Sustainability and Environment Ministry, outlined the island state’s unique challenges in pursuing sustainable development since independence.
He highlighted the Singapore Green Plan, which aims to combat climate change through five main pillars: Greener city, sustainable living, energy efficiency, green economy and preparing for a resilient future.
“A well-managed green transition is essential to unlocking global climate goals, and a shared future can only be achieved through collaboration,” Koh stated.
The plan aims to significantly cut carbon emissions to about 60 million tonnes of carbon dioxide equivalent by 2030. This initiative includes a revised carbon tax, recently raised from US$5 to $25 per tonne (about 161 to 800 baht), covering around 80% of emissions.
Fam Wee Wei, director of the Carbon Mitigation Division and International Trade Cluster Division (Green Economy & Sustainability), highlighted the importance of a market-driven approach to reducing emissions and the necessity of robust policies to support climate action.
“Sustainability is not just a responsibility; it is an opportunity for innovation and growth in the green economy,” she emphasised.
Ngan Ye Ring, director of products at Singapore Climate Impact X, elaborated on the role of the voluntary carbon market. She underscored the need for transparency and standardisation in carbon pricing, advocating for collaborative efforts between nations to enhance trading frameworks for carbon credits.
“Transparency and standardisation in carbon pricing are crucial for the effectiveness of the carbon market,” Ngan said.
Puttipar Rotkittikhun, director of the Carbon Credit Certificate Office at Thailand Greenhouse Gas Management Organisation (TGO), detailed the country's initiatives for greenhouse gas reduction and the establishment of a robust certification framework aligned with international standards.
“Thailand is committed to enhancing international cooperation in carbon credit trading to achieve our climate goals,” she said.
Regional collaboration, future prospects
The seminar highlighted the importance of establishing standardised carbon credit frameworks and building infrastructure that promotes collaboration between the public and private sectors to streamline the carbon market.
Panellists emphasised the potential for regional teamwork in carbon trading, noting that by certifying emissions reductions, countries can generate credible carbon credits for trading, thus enhancing access to sustainable investment.
Dusit Manapan, the Foreign Ministry’s deputy permanent secretary, said: “By aligning our strategy, we can enhance our capacity with both the National and Singapore's proactive approaches,” reflecting the need for shared goals in achieving sustainability.
In her opening speech, Thailand’s Ambassador to Singapore, Ureerat Chareontoh, emphasised the critical importance of a well-managed green transition for achieving global climate goals.
She expressed hopes for collaborative efforts between Thai and Singaporean agencies to share best practices and learn from each other's experiences in promoting sustainability.
“Together we can make it; let us seize this opportunity to drive transformation change in our economies for a healthier and inclusive future,” she concluded.
The seminar also touched on grassroots initiatives to enhance public awareness of sustainability, including a charge on plastic bags to encourage reduced usage and a forthcoming beverage container deposit scheme. These measures represent small but significant steps towards cultivating a sustainability mindset in the community.
As Thailand and Singapore continue to prioritise sustainability and climate resilience, this collaborative approach to the BCG economy marks a significant step towards a greener future for the region.
