"Minister Varawut" Stimulated Investments to Promote Economic Growth and Sustainable Carbon Neutrality

On this day (2nd February 2023) at 02.00 p.m., Mr. Varawut Silpaacha, Minister for Natural Resources and Environment (MNRE), had a special speech, “Business Adaptation to Climate Changes and New Environment for the Next Era” in the Investment Forum 2023 held by Wan Asset Management Company Limited. Mr. Thanetphon Thanaboonyawat, the Secretary of MNRE, joined the forum at Hyatt Erawan Hotel in Bangkok in order to emphasize on the strong cooperation with all sectors for driving forces about climate changes with economy growth and leading Thailand to sustainable carbon neutrality.

MNRE mentioned about the problems of the climate changes in Thailand that Thailand is the 9th most risky country seriously being affected by the climate changes in the world. The economic and social effects required improving “the Long-term Low Emissions and Development Strategies (LT-LEDS)” and setting participation goals according to the 2nd updated NDC of the country. The business sector must adjust businesses in order to handle the effects from the climate changes and to achieve sustainable businesses; for example, the transitions to low emission businesses, the low investments and the high returns, the strategies consistent with the country’s goals, the participations of the public and private sectors, and the uses of advanced technologies and innovations such as green hydrogen and direct air capture (DAC).

These also included the operations in six aspects: 1) policies driving the BCG model by economically creating a new S-curve and developing organizations according to the concept of ESG (Environment, Social and Governance),

2) technological applications for promoting the agricultural sector to reduce the emissions of greenhouse gases in the Thai Rice NAMA program, which is a new way of environmentally friendly rice farms, 3) investments and BOI to set measures for promoting investments in environmentally friendly products, 4) carbon credit markets inside and outside the country opening platforms for trading clean energies and carbon credits, 5) new greenhouse gas storages and releases promoting forestation in public areas, and 6) laws driving the (drafted) Climate Change Act B.E ….