SDGs Mega Trends: How Thai corporations are transforming to tackle climate change

Thailand’s largest sustainability network, Global Compact Network Thailand (GCNT), has published its “SDGs Mega Trends 2022” report as a sustainable development framework focused on business transformation in the era of climate change.

The third annual SDGs Mega Trends report deals with climate change prevention and solutions.

"This is a crisis faced by everyone, and we must address it together, particularly the influential private sector. Corporate leaders are the most significant figures in establishing and directing business goals in compliance with these challenges,” GCNT chairperson Suphachai Chearavanont said.

This year, SDGs Mega Trends presented a UN Global Compact study on the climate perspectives of 1,232 CEOs drawn from 21 industrial sectors across 113 countries.

The survey, including exclusive interviews with CEOs from six of Thailand’s leading corporations, reveals their vision for reducing CO2 emissions and tackling other environmental problems.

The exclusive interviews include six CEOs of GCNT members with the vision to tackle climate change for business enhancement, namely, PTT Public Company Limited (Energy Transformation), Bangchak Corporation (Green Energy Balance on Business), The Creagy (Net Zero Economy), Charoen Pokphand Foods or CPF (Kitchen of the World), Mitr Phol Group (Dynamic new business) and Indorama Ventures (Circular Economy).

The work of the UN’s Net Zero Coalition is based on scientific data that is fundamental to new sustainable solutions and can be applied to value chains, as well as concrete policy, strategy and operational plans which can be put into practice by any organisation.

“By building awareness through SDGs Mega Trends, we expect to stimulate and promote tangible prevention and resolutions across industries," GCNT said.

"The operations framework includes the government’s bio-circular-green [BCG] economic model, the green economy, nature-based biodiversity solutions, and innovation and technology development – particularly in clean energy, human rights and commitments to reduce the social gap.”

SDGs Mega Trends 2022 includes:

· Business model transition: Revision and transformation from traditional methods to green businesses or the establishment of alternative business models for sustainability to increase value and reduce negative impacts on the environment, with value-chain improvement. By implementing innovative development in basic infrastructure, organisations are prompted to handle changes and transition into sustainable industries that respond to future lifestyle trends and commit to reducing greenhouse gas emissions.

· Green innovation: Investment in innovative green technology and clean energy can be applied throughout the value chain, such as by increasing the proportion of alternative energies with lower CO2 and pollutants, adjusting strategies in production and services and reducing negative effects of the value chain on the environment.

· Circular economy: Prompting the circular economy to build sustainability throughout the production chain with technology used to create value as well as cultivating available resources for maximum efficiency throughout the product lifecycle.

· Nature-based solutions: Biodiversity recovery and resilience through nature-based solutions, including forestation to help reduce carbon dioxide, enabling stability of conditions for humans and animals, restoring green abundance and preserving biodiversity.

· Human rights: Respecting human rights and equality as well as reducing gaps in access to resources. Protect vulnerable groups prone to risks via “just transition” trends involving farmers’ standards of living, upstream industries, SMEs, career support for vulnerable groups, social welfare, and new skills training for the workforce.

Among the GCNT member-companies whose CEOs presented their visions to tackle climate change for business enhancement were PTT Plc (Energy Transformation), Bangchak Corporation (Green Energy Balance in Business), The Creagy (Net Zero Economy), Charoen Pokphand Foods or CPF (Kitchen of the World), Mitr Phol Group (Dynamic new business) and Indorama Ventures (Circular Economy).

To learn more, visit “SDGs Mega Trends 2022” at globalcompact-th.com/sdgs/megatrends/2022 and discover new trends and sustainability advice at Global Compact Network Thailand: www.globalcompact-th.com.