Three corporate giants reveal plans to achieve net-zero emissions by 2050
Three large corporations have unveiled their investment plans to achieve their net-zero carbon emission goal during the event “60 Years Of Excellence” at Queen Sirikit National Convention Centre on Wednesday.
Several companies are working on reducing their carbon footprint to mitigate the impact of climate change and drive Thailand’s carbon neutrality and net-zero carbon emission goals by 2050 and 2065, respectively.
“Apart from strict regulations, all parties should seek guidelines together to achieve the net-zero carbon emission goal,” said Chaiwat Kovavisarach, group CEO of petroleum and energy conglomerate Bangchak Corporation.
He said the company had been working on carbon footprint reduction since 2011, starting from measuring the footprint and implementing carbon reduction plans.
Over the past 10 years, Bangchak has invested over 60 billion baht for launching activities and operating businesses related to carbon reduction, such as solar farms and renewable energy, he said.
He vowed to operate businesses that would mitigate the environmental impact along with generating profits for investors. Initially, the company aims to reduce its carbon footprint by 30%, which would be achieved through reforestation and adopting technologies for reducing emissions in production, he said.
Chaiwat said Bangchak is working on Sustainable Aviation Fuel (SAF), which has been developed from leftover cooking oil to reduce carbon emission and promote a circular economy.
He confirmed that airlines and aviation fuel producers have contacted the company for SAF, although its price is twice that of normal fuel. He expects the company to be ready for operating the SAF business in the second quarter next year.
Chaiwat advised the government to create awareness on its carbon reduction policy among entrepreneurs, especially small and medium enterprises.
He said a one-stop-service centre should be established to facilitate entrepreneurs seeking permission for carbon reduction projects. Bangchak had sought permission from the Transport and Environment ministries on operating electric motorcycle and battery swapping station services, he added.
SCG to reach net-zero in 2050
Thammasak Sethaudom, director of cement and building materials giant Siam Cement Group (SCG), said the company initially aims to reduce 25% of greenhouse gas emissions, and achieve its net-zero goal by 2050.
He said the company had developed biomass materials to boost cement production efficiency and reduce reliance on coal, which could reduce carbon emissions by 50% and increase cement sales by 70%.
Thammasak believes that adoption of biomass material enables its concrete business to reduce carbon emissions, adding that the public and private sectors should promote adoption of biomass material to further reduce emissions.
SCG has collaborated with home appliances company HomePro on recycling old refrigerators and air-conditioners to promote a circular economy, reduce carbon emission and boost business growth, he explained.
One Bangkok for carbon reduction
Panote Sirivadhanabhakdi, the CEO of real estate provider Frasers Property, said One Bangkok is a mixed-use project, developed in line with circular economy principles, such as recycling construction piles and lightweight bricks.
“Innovation and technology are important for enhancing property standards towards sustainable environment preservation,” he said, adding that the company aims to achieve net-zero carbon emission by 2050.
He added that the company aimed to develop property projects free from carbon emissions, such as residences, hospitals and office buildings, in 20 countries.
Panote, however, noted that the challenge in achieving the net-zero goal was the implementation of standards to ensure product quality and sustainability, such as a formula for concrete recycling and collaboration on construction waste management.
