Thailand’s private sector joins ‘Race to Zero’ ahead of global climate summit

Thailand’s business world got in training this week to cut carbon ahead of the UN’s COP 26 climate conference in November.

The “Race to Zero: Meet the World’s Race to Zero Heroes for Climate Action” guided more than 400 public and private-sector organisations on practical steps towards the goal of net-zero carbon emissions. 

Led by the UN’s Global Compact Network Thailand (GCNT), the technical webinar helped businesses take transformational action in setting climate targets by bringing together experts, sharing best practices, and providing tools for transition to net-zero emissions.

Noppadol Dej-Udom, secretary-general of GCNT and chief of sustainability for Charoen Pokphand (CP) Group, said the event will help the private sector step up against climate change, after the “code-red for humanity” warning delivered by the latest Intergovernmental Panel on Climate Change report. Business-as-usual was no longer an option, which is why GCNT has made building climate preparedness and adaptation among its members a top priority, Noppadol said. 

Gita Sabharwal, UN Resident Coordinator in Thailand, explained that the private sector, which generates nearly 9 in 10 jobs and contributes to over 80 per cent of the country’s GDP, has an undeniable leadership role and responsibility. Although traditionally environmental spending is seen as a cost burden to the economy, a recently published IMF Paper suggests that green spending can be a green multiplier contributing between 2 to 7 times more than conventional multipliers. This is precisely why it is so critical to create an enabling environment for a green economy and business sustainability, she added. 

“I am pleased that the private sector in Thailand is taking such bold initiatives to be climate champions, with some companies already aiming to be carbon neutral over the coming decade,” said Sabharwal.

Said Jens Radschinki, Regional Lead of the UN climate change convention office in Bangkok:
“Ambitious government commitments and country action is needed. To be consistent with the 1.5C-degree goal, global greenhouse gas emissions need to decline by around 45 per cent by 2030. Ahead of us lies a fundamental transformation of our economy, and private sector needs to play a key role in setting science-based targets to reduce GHG emissions.”

Businesses need a common baseline to keep their climate goals in reach, acknowledged Race to Zero members Moh Suthasiny from Happy Grocers and Dan Pathomvanich from NR Instant Produce. They shared their zero-emission targets as well as advice on raising ambition and concrete action.