By Panichat Kitisittichai, SasinSEC
On 24 May, Alex Mavro and Panichat Kitisittichai of SasinSEC attended the Bangkok Post Conference 2023: The Power to Build a Better Future. The conference offered crucial insights that could help advance the SasinSEC ESG digital platform project. By aligning our efforts with Thailand’s aspirations to be at the forefront of ESG practices, SasinSEC is well positioned to drive positive change.
The conference highlighted Thailand’s commitment to lead the charge in ESG practices, recognizing the urgent need to address environmental challenges. SasinSEC recognizes that aligning our ESG digital platform project with national commitments and policies will be instrumental in driving positive change.
The Kingdom has set ambitious targets for reducing greenhouse gas (GHG) emissions. By 2023, the country aims to achieve a 30 to 40% reduction in GHG emissions. Building on this milestone, Thailand aims to reach carbon neutrality by 2050 and ultimately, net zero by 2065. SasinSEC applauds these commitments and will integrate them into Sasin’s ESG digital platform project, promoting transparency and accountability for ESG initiatives.
Government policies play a pivotal role in fostering sustainable development. By 2030, the country plans to have 30% of all vehicles produced locally to be electric vehicles, encouraging the adoption of cleaner transportation alternatives. Furthermore, Thailand plans to generate 20% of its electricity from renewable sources by 2036, and 50% by 2050. SasinSEC is tracking the importance of these policies through our ESG digital platform project, hoping to accelerate the transition.
An inspiring trend observed at the Bangkok Post Conference was the increasing alignment of Thai companies with the Science-Based Targets initiative (SBTi). SBTi offers a framework for companies to establish ambitious emissions reduction targets in line with the goals of the Paris Agreement. Notably, between 2021 and 2022 Thai companies experienced a fivefold growth in their SBTi commitments, showcasing the commitment to achieve net-zero emissions by 2050.
SasinSEC encourages this alignment and aims to leverage our own ESG digital platform project accordingly. It will provide a comprehensive and user friendly interface for companies to measure, monitor, and report ESG performance. By integrating the Thai national commitment, government policies, and SBTi alignment, SasinSEC aims to foster a culture of sustainability and to facilitate the sharing of best practices among organizations.