Thailand can reduce emissions by 40% if it receives help: ONEP deputy chief
Laws, technologies, finance and cooperation will all help Thailand achieve its net-zero carbon emissions by 2065, the Office of Natural Resources and Environmental Policy and Planning (ONEP) said on Tuesday.
Speaking at the “EGCO Group Forum 2022: Carbon Neutrality Pathway” at Grand Hyatt Erawan Bangkok, ONEP deputy secretary-general Jiravat Ratisoontorn said agriculture, tourism, public health and natural resources have all been affected by climate change.
“Even though Thailand’s carbon emissions accounted for only 0.8 per cent of global emissions, Bangkok was ranked 9th among cities most affected by extreme weather events,” he said.
Thailand will be able to reduce greenhouse gas emissions by 40% by 2030 if it receives cooperation from other countries, Jiravat pointed out.
He said ONEP has drawn up a road map to enable the country to achieve net-zero carbon emissions covering renewable energy, transportation, industry, waste management, and agriculture.
The road map focuses on the implementation of policies and laws, carbon capture system development, finance and investment, carbon credit market mechanism development, increasing carbon storage facilities and promoting cooperation, he explained.
The draft act on climate change will cover greenhouse gas reduction targets, carbon credits, financial mechanisms and carbon tax, Jiravat said.
“The draft act on climate change is currently under review for regulatory impact assessment and other related issues,” he said, expecting the draft act to be proposed to the Cabinet next year.
Thailand Greenhouse Gas Management Organisation executive director Kiatchai Maitriwong said Thailand is putting all efforts into gaining momentum between greenhouse gas emissions and storage.
He expects the country’s emissions to reach its 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 by consumers, investors and financial institutions as increasing attention is being paid to the issue.
“Carbon neutrality will help boost Thailand’s competitiveness in a low carbon economy,” he added.
Thepparat Theppitak, president of forum organiser Electricity Generating Pcl, or EGCO Group, said the company’s key drivers toward carbon neutrality include carbon tax, a carbon capture system, stakeholder sentiment and a transition to renewable energy.
EGCO’s electricity production capacity from renewable sources, such as solar, wind and hydro, is 1,424 megawatts accounting for 24% of its total production capacity of 6,079 megawatts, he said.
“The company aims to increase its electricity production capacity from renewable sources to more than 30% by 2030,” Thepparat said.
EGCO is focusing on expanding its renewable energy portfolio to work towards carbon neutrality, enhancing existing assets for sustainability, he said.
The company is also looking for alternative energy, such as hydrogen, solid oxide fuel cells, small modular reactors and wireless solar energy transmissions from space, Thepparat said.
He asked the government to support research and development of technology related to renewable energy in a bid to enable Thailand to move toward sustainability.
Krungsri executive vice president Poonsit Wongthawatchai said financial support is an important factor that encourages the business sector to work on greenhouse gas reductions.
He said the bank aims to achieve net-zero carbon emissions by 2050 and cease financial support for coal powered plants by 2030.
“The bank will increase financial support by 50,000-100,000 baht to businesses for society and sustainability within 2030,” Poonsit said.
He added that the bank would continue promoting the development of a sustainable financial market in the country.
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