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Saturday, July 20, 2024

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Thailand’s Sustainable Path: Policies and Innovations Drive Carbon-Zero Goals

Thailand’s journey towards achieving carbon-zero goals necessitates a multifaceted approach, blending public policies and innovative solutions, according to Suphachai Chearavanont, CEO of the Charoen Pokphand (CP) Group. Speaking at the Bangkok Post Conference 2024, Chearavanont emphasized the pivotal role of measures like a carbon tax, coupled with advancements such as artificial intelligence (AI) and nuclear power.

Highlighting the global challenge, Chearavanont stressed the significant distance remaining in fulfilling the Sustainable Development Goals (SDGs) set by the United Nations. Despite the ambitious targets set for 2030, recent assessments indicate that only a small fraction of these objectives are on track for completion.

Thailand, positioned 43rd among 166 nations for SDG progress, faces the urgent task of addressing climate change. With current trends projecting a substantial rise in global temperatures, Chearavanont underscored the imperative to curb carbon emissions. To adhere to the 1.5°C temperature rise limit, drastic reductions in carbon dioxide emissions are indispensable, he noted.

Yet, amidst increasing electricity demands, reducing emissions poses a formidable challenge. Chearavanont advocated for the adoption of nuclear power as a viable alternative to carbon-intensive energy sources, citing its accessibility and potential contributions to emission reduction targets.

Nuclear power, accounting for a significant portion of global electricity generation, presents itself as a crucial component of the future energy landscape. With numerous reactors slated for construction across Asia, including Thailand’s neighbors, the momentum towards nuclear energy adoption is palpable.

In Thailand’s context, bridging the gap towards SDG targets necessitates pragmatic public policies aligned with a carbon-zero roadmap. Chearavanont emphasized the importance of carbon taxes and corporate adherence to environmental, social, and governance (ESG) practices to drive sustainable development.

Addressing the evolving energy landscape, Chearavanont acknowledged the rising prominence of “3D” businesses – Digitization, Deglobalization, and Decarbonization. Within this framework, he reiterated the importance of considering nuclear power alongside other innovative solutions and policy initiatives.

Turning to the CP Group’s commitment, Chearavanont outlined ambitious sustainability goals, including climate resilience, circular economy principles, and education initiatives. Leveraging existing green systems and investing in future technologies, the CP Group aims to lead the charge towards a sustainable future.

In the long term, Chearavanont revealed the group’s aspirations to embrace cutting-edge technologies like microreactors and carbon capture, underscoring their unwavering dedication to sustainability.

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