The executive director of Thailand’s Greenhouse Gas Management Organization, Kiatchai Maitriwong, said Thailand was doing everything it could to gain ground between greenhouse gas emissions and storage.
He expects the country’s emissions to peak in 2025 before declining, adding that a new department would be set up to promote Thailand on greenhouse gas reduction and adaptation.
“Several measures are needed to reduce greenhouse gas emissions, such as promoting the use of electric vehicles, the carbon capture system and a bio-circular-green economy model,” Kiatchai said. .
The government is also promoting nature-based solutions by restoring forests to reduce greenhouse gas emissions, he said.
Kiatchai warned that companies that fail to undertake greenhouse gas reductions will come under pressure from consumers, investors and financial institutions as increasing attention is paid to the issue.
“Carbon neutrality will help boost Thailand’s competitiveness in a low-carbon economy,” he added.
Thepparat Theppitak, chairman of forum organizer Electricity Generating Pcl, or EGCO Group, said the company’s main drivers towards carbon neutrality include the carbon tax, a carbon capture system, stakeholder sentiment and a transition to renewable energy.
EGCO’s electricity generating capacity from renewable sources, such as solar, wind and hydro, is 1,424 megawatts, or 24 percent of its total generating capacity of 6,079 megawatts, it said. -he declares.
“The company aims to increase its electricity generation capacity from renewable sources to more than 30% by 2030,” Thepparat said.
EGCO is focused on expanding its renewable energy portfolio to work towards carbon neutrality, enhancing existing assets for sustainability, he said.
The company is also researching alternative energies, such as hydrogen, solid oxide fuel cells, small modular reactors and wireless solar power transmissions from space, Thepparat said.
He called on the government to support research and development of renewable energy technologies with the aim of enabling Thailand to move towards sustainability.
Krungsri Executive Vice President Poonsit Wongthawatchai said financial support is an important factor encouraging the corporate sector to work on reducing greenhouse gases.
He said the bank aims to achieve net zero carbon emissions by 2050 and end financial support for coal-fired power plants by 2030.
“The bank will increase its financial support from 50,000 to 100,000 baht to companies for society and sustainability by 2030,” Poonsit said.
He added that the bank will continue to promote the development of a sustainable financial market in the country.