EXIM Thailand & Wave BCG promote Thai entrepreneurs, farmers, GHG reduction

Rak Vorrakitpokatorn, President of the Export-Import Bank of Thailand (EXIM Thailand), and James Andrew Moore, Chief Executive Officer of Wave BCG Co., Ltd., convened at EXIM Thailand's Head Office on April 22, 2024, to formalize their partnership through the signing of a Memorandum of Understanding (MOU).

This landmark agreement signifies a commitment to collaborative efforts aimed at supporting organizations, particularly Thai business entities, in achieving their net zero emission objectives.

The cooperation outlined in the MOU includes leveraging mechanisms such as renewable energy certificates (RECs) and carbon credits, while also facilitating the co-use of resources and knowledge sharing to enhance organizational efficacy and promote sustainable development on local, national, and global scales.

This strategic alliance between EXIM Thailand and Wave BCG underscores EXIM Thailand's dedication to its role as a Green Development Bank, aligning with government policies and the sustainable development goals (SDGs) of the United Nations.

Wave BCG, a leading Thai provider of comprehensive RECs acquisition and trading services, boasts a substantial backlog of 8,000,000 RECs annually from renewable energy power plants, with aspirations to elevate this figure to a portfolio high of 15,000,000 RECs per year.

The company aims to empower Thai entrepreneurs in their pursuit of greenhouse gas (GHG) emission reduction and carbon offsetting targets, thereby enhancing their competitive edge on the global stage.

Additionally, Wave BCG is actively involved in the development of climate innovations and technologies, particularly in alternative wetting and drying (AWD) practices for rice farming. These initiatives have the potential to reduce GHG emissions from rice systems by up to 45%, promoting sustainable competitiveness and adding higher value to agricultural products and basic industries within the country.

Moore emphasized the pressing need for entrepreneurs worldwide to adapt their business models in response to the urgent threat of global warming, framing this adaptation not as an option but as a necessity for survival.

The collaboration between Wave BCG and EXIM Thailand signifies a proactive step toward addressing GHG emissions within Thailand's energy and agriculture sectors. Together, they will lead initiatives to encourage Thai entrepreneurs and farmers to embrace RECs as a means to transition towards cleaner and renewable energy sources.

One notable project entails the adoption of AWD practices in Thailand's rice farming, aimed at reducing GHG emissions while bolstering the competitiveness of the country's agricultural exports and fostering sustainability within the farming sector.