Srettha vows to drive Thailand towards a low-carbon society

Speaking at the “ESG (Environmental-Social-Governance) Symposium 2023: Accelerating Changes towards a Low Carbon Society” at the Queen Sirikit National Convention Centre in Bangkok, Srettha outlined his vision, noting first that global warming has intensified, resulting in food shortages and economic issues.

“If all parties work [on climate change mitigation] together under the ESG strategy, the world would be better," he said, adding that the ESG strategy focuses on stimulating the economy and preserving the environment in line with the United Nations Sustainable Development Goals (SDGs).

Srettha, who is also Finance Minister, said Thailand is working to strengthen international cooperation, especially on resource allocation and funding.

“This will help the country to deal with challenges and drive SDGs effectively,” he said.

The government has launched financial measures worth more than 450 billion baht to invest in the green economy and green taxonomy, aiming to encourage the private sector to invest more than 1.6 trillion baht in SDG-related businesses by 2030.

“To develop a sustainable economy, we need clear guidelines for transition based on the people's interests,” he said, promising that no one would be left behind.

He outlined guidelines to develop a sustainable economy, including assisting people at the grassroots level, promoting human rights and equality, promoting cooperation to deal with climate change and promoting access to clean energy at affordable prices.

"I would like to ask people to be confident that today, Thailand is ready to deal with the environmental crisis. The government has included this issue in our policies, and we have a plan to reduce greenhouse gas emissions,” he emphasised.

Srettha praised several industries in Thailand for their suggestions and commitment to promoting the circular economy as the national agenda.

He also vowed to work on this issue by paying attention to waste management and green product procurement to create an ecosystem that supports the circular economy.

The government will maximise the use of clean energy and look to opening trade in clean electricity to create energy security and support Thai economic expansion to attract foreign investments in the future, he said.

“I would like to thank people for their commitment to transitioning to a low-carbon society,” he said while acknowledging that there are still many people who are not aware of or are unable to cope with climate change, especially small enterprises and farmers.

“We must allow them to access knowledge, technology and financial resources, so they can adjust,” Srettha said, adding that he will appoint relevant agencies to work on the suggestions.

Thai industries' suggestions to the PM

SCG executive vice president Thammasak Sethaudom said that more than 500 people from several industries in Thailand had brainstormed on suggestions to the PM in a bid to drive the country towards a low-carbon society, and also praised Srettha's speech to the UN General Assembly last month, noting that it will build confidence that Thailand can deal with so-called “global boiling”.

Thailand's economic growth, he said, had inevitably come with an increase in greenhouse gas emissions.

“This economic system cannot drive Thailand towards a low-carbon society,” he said, "We want to see the Thai economy grow while reducing greenhouse gas emissions, similar to what is being done in Sweden, Norway, Finland and China.

He advised the PM to drive Thailand towards a low-carbon society based on the country's context, strong points and weak points. He outlined Thai industries' suggestions in four areas:

1. Collaboration on Saraburi Sandbox: Sustainable development in Saraburi is challenging because tourism, agriculture and industrial operations must be developed together to make it liveable and generate revenue

2. Accelerating the circular economy as a national agenda: The government must work on carbon dioxide reduction, set up key performance indicators and create an ecosystem to support the circular economy.

3. Unlock limitations to shift clean and sustainable energy: The government should open grid modernisation to enable people to access low-carbon energy, develop energy storage to boost management efficiency and promote the use of renewable energy.

4. Just transition: Create awareness among all groups of people and enable them to access funds without leaving anyone behind.

Thammasak also advised PM to hone labour skills, so they will be ready for a transition to a low-carbon society. “We hope these suggestions will help boost the economy along with reducing carbon emissions in line with PM’s vision,” he added.