Search Results for: carbon neutrality
- Thailand News
Civil group to submit climate bill targeting 2035 carbon neutrality
A civil society group is preparing to present a bill to Parliament, aiming to accelerate climate goals while safeguarding local communities’ rights to their natural resources. Coordinator of Thai Climate Justice for All, Kritsada Boonchai, announced that the draft law, the group’s first, intends to support the global effort to reduce greenhouse gas emissions. “Currently, tackling climate change is a…
- Thailand News
Thai energy firms question new power plan for carbon neutrality
Thailand’s energy firms expressed concerns that the revised power development plan (PDP) may fall short of the kingdom’s 2050 carbon neutrality goals, highlighting the need for a balanced approach between practicality and optimism. The PDP, which is set to be enforced from 2024 to 2037, aims to promote greater use of renewable energy to reduce carbon dioxide emissions. However, energy…
- Phuket News
Phuket aims to become a low-carbon green city
The popular tourist destination of Phuket is on course to become a low-carbon green city, thanks to a recent collaboration between Energy Absolute Public Company Limited (EA) and the Federation of Thai Industries Phuket (FTI Phuket). Both organisations have agreed to make this transformation a reality, and Governor Sophon Suwannarat witnessed their commitment at an event held on February 17.…
- Business News
Thailand’s BAAC plans to acquire 510,000 tonnes of carbon credits
The Bank for Agriculture and Agricultural Cooperatives (BAAC) seeks to acquire 510,000 tonnes of carbon credits over the next five years, according to Chatchai Sirilai, the bank’s president. This move aligns with Thailand’s ambition to achieve carbon neutrality by 2050 and its net-zero target, which aims to equalize greenhouse gas (GHG) emissions and absorption by 2065. Chatchai revealed that the…
- Thailand News
Thailand’s airports vow to eliminate carbon emissions by 2032
Airports of Thailand (AOT) is gearing up to transform the aviation landscape by pledging to achieve carbon neutrality by 2030 and zero carbon emissions by 2032. AOT, responsible for overseeing the nation’s major hubs, has laid out an ambitious strategy to slash a whopping 50% of its annual carbon footprint, currently standing at 300,000 tons. Keerati Kitmanawat, AOT’s dynamic CEO…
- Thailand News
Climate crisis: Thailand promises to cut carbon emissions by 40%
Thailand has pledged a whopping 40% cut in carbon emissions, up from its initial 30%, following the resounding success of the 2023 United Nations Climate Change Conference (COP28) in Dubai. At a riveting COP28 debriefing event yesterday, December 20, Phirun Saiyasitpanich, Chief of the Department of Climate Change and Environment, declared that a serious study based on social, environmental, and…
- Business News
Thailand advances in clean energy and carbon credit trading
Thailand is making significant strides in clean energy development as the government and businesses collaborate on various projects aimed at reducing carbon dioxide emissions. Initiatives such as increasing the use of renewable energy sources for electricity generation and promoting electric vehicles (EVs) are helping create new environmentally friendly businesses. Companies that do not adhere to eco-friendly practices may face penalties,…
- Business News
Stark Corporation scandal costs 14.7 billion baht
Shareholders and stock investors of Stark Corporation are reeling from an accounting and embezzlement scandal that has incurred damages estimated at a staggering 14.7 billion baht. This debacle has impacted 4,704 shareholders and led to the prosecution of the former chairman and several top executives in what is deemed one of Thailand’s largest corporate frauds in recent years. Adding to…
- Thailand News
FTI disappointed by the underutilisation of biomass and biogas
The Federation of Thai Industries (FTI) expressed discontent with the state’s plan to reduce biomass and biogas fuels in the upcoming power development plan (PDP). The FTI advocates for maintaining or increasing the proportion of these fuels to better utilise agricultural waste. Scheduled for enforcement from 2024 to 2037, the PDP promotes a substantial increase in renewable power, with a…
- Thailand News
Thailand extends diesel price cap amid long-term energy concerns
Efforts by the Thailand government to cap energy prices, and diesel subsidies may appease the public in the short term, but there are growing concerns about the long-term implications on fuel consumption. The extension of the diesel price subsidy, funded by the Oil Fuel Fund, is a recent measure that fixes the retail price at 33 baht per litre until…
- Thailand News
Thailand eyes cleaner energy with new power plan for 2024 to 2037
Thailand’s revised power development plan (PDP) is set to be submitted for approval after a week-long public hearing concluded yesterday, the implementation of the plan by year’s end, will steer the country towards cleaner energy. Central to Thailand’s commitment to reducing carbon dioxide emissions, the PDP is expected to provide a clearer path for the nation. Thailand announced its commitment…
- Thailand News
Srettha unveils plans for Thailand’s economy at UBS conference
At the UBS Asian Investment Conference 2024 in Hong Kong, Prime Minister Srettha Thavisin showcased a visionary blueprint for Thailand’s economic revolution. Addressing over 2,000 participants and 300 companies from the Asia-Pacific region, he laid out a series of strategic initiatives designed to attract global investment and drive innovation and sustainability. The 62 year old PM emphasised the nation’s readiness…
- Thailand News
Lamborghini to debut electric supercar in Thailand by 2028
Automobili Lamborghini, the renowned Italian luxury sports car manufacturer, plans to introduce its new electric supercar to Thailand, with a global debut slated for 2028. This initiative is part of the company’s broader strategy to reduce carbon dioxide emissions. For years, Lamborghini has been actively developing electric vehicle (EV) technology to support its goal of achieving carbon neutrality, according to…
- Thailand News
Buckle up, Bangkok: Thai official floats capital relocation amid rising sea
A senior Thai official yesterday raised the alarming possibility that Thailand may need to consider relocating its capital city Bangkok due to the threat posed by rising sea levels caused by climate change. The bustling metropolis of the capital already grapples with severe flooding during the rainy season each year. Deputy Director-General of Thailand’s Department of Climate Change and Environment…
- Thailand News
PM highlights enhanced ASEAN connectivity for regional growth
Prime Minister Srettha Thavisin affirmed yesterday the critical role of enhanced ASEAN connectivity in unlocking the region’s full potential and boosting its collective competitiveness. The 62 year old Thai PM revealed this perspective during a virtual gathering for the ASEAN Future Forum 2024, which focused on the theme Towards Fast and Sustainable Growth of a People-Centred ASEAN Community. “Our emphasis…
- Business News
Thailand urged to increase renewable power target beyond 50%
A call for an increase in renewable power generation beyond the target of 50% outlined in the Power Development Plan (PDP) has been issued to the government. The PDP is due to be finalised in the second quarter of this year. This rise is essential since Thailand has pledged to achieve carbon neutrality, a balance between carbon dioxide emissions and…
- Business News
Isuzu revs up green initiative with PTT union for clean fuel trials
Tri Petch Isuzu, Thailand’s Isuzu vehicle distributor, is joining forces with PTT Plc to test vehicles powered by a novel clean fuel. This initiative is aimed at supporting efforts to reduce the high carbon dioxide emissions from Thailand’s transport sector. The transport and power generation sectors are the main contributors to over 60% of Thailand’s greenhouse gas emissions, as per…
- Thailand News
Air India scrambles for aircraft amidst passenger surge
Air India, now steered by Tata Group’s helm, is set to soar with 506 aircraft orders and a delivery every six days. CEO Campbell Wilson anticipates slight delays in their transformation journey, admitting they’re playing catch-up in the market. IndiGo, dominating India’s skies, plans a colossal expansion, eyeing a fleet surge from 300 to 1,000 aircraft by the decade’s end, reveals…
- Business News
PTT plc eyes green methanol production
PTT Plc, a major national oil and gas conglomerate, is contemplating the construction of a green methanol production facility. The project, costing an estimated 3.1 billion baht, aligns with PTT’s initiative to curtail carbon dioxide emissions and manufacture methanol-derived fuels. Traditionally, methanol production relies heavily on fossil fuels. However, PTT’s proposed method utilises biomass or carbon capture techniques, paving the…
- Thailand News
Thailand Video News | Bill for same-sex marriage heads to parliament, Blackpink’s Lisa supports both S. Korea and Thailand at world cup qualifier
In this video, Alex and Jay cover the diverse news across Thailand. Beginning with Thailand’s humanitarian aid to Myanmar, its progress towards legalizing same-sex marriage, Thaksin Shinawatra’s political return, Southeast Asia’s nuclear power advancements, a legal battle over song plagiarism, and BLACKPINK’s Lisa showing dual support at a World Cup qualifier. Thailand’s Humanitarian Aid to Myanmar: A Gesture Amidst Controversy…
- Business News
Hong Kong bolsters business links with SE Asia and Middle East
Hong Kong is set to intensify its business ties with Southeast Asian and Middle Eastern nations, as part of its contribution to China’s Belt and Road Initiative. Nicholas Ho Lik-chi, the Commissioner for Belt and Road, has identified Malaysia, Thailand, Indonesia, Vietnam, the United Arab Emirates and Saudi Arabia as key cooperation partners for the year ahead. Ho Lik-chi oversees…
- Thailand News
Thailand’s agriculture ministry seeks triple budget increase to boost farmer income
A request for a substantial budget increase to 411 billion baht for the upcoming fiscal year has been put forward by Thailand’s Ministry of Agriculture and Cooperatives. The proposed budget, which is over three times larger than the previous year’s allocation, aims to triple the income of farmers within the next four years. Chantanon Wannakejohn, serving as the Secretary-General to…
- Business News
Thailand and Cambodia discuss joint petroleum exploration in Gulf
Prime Minister Srettha Thavisin of Thailand and Cambodian counterpart Hun Manet have instigated discussions about the potential for joint petroleum exploration and production in the Gulf of Thailand. The overlapping claims area (OCA), an area of 26,000 square kilometres that is believed to be rich in fossil fuels, is the focal point of these negotiations. The OCA is considered a…
- Thailand News
Southern Thailand to acquire new Andaman Airport
Envisioned as a direct long-haul flight hub, Airports of Thailand (AOT) is fast-tracking the construction of the much-anticipated Andaman International Airport. In a recent visit, Transport Minister Suriya Juangroongruangkit inspected the airport’s progress in Phang Nga province, initiating transformative steps to bolster local transport infrastructure. The Andaman International Airport, currently in its second stage of development, is strategically crafted to…
- Business News
Thailand to launch green investment trusts for forestry initiatives
Thai regulatory bodies are paving the way for the establishment of investment trusts dedicated to forestry and tree-planting initiatives. These new financial products, dubbed green investment trusts, are part of an effort to diversify the capital markets and provide financial support to sectors that align with carbon neutrality goals. Pornanong Budsaratragoon, the secretary-general of the Securities and Exchange Commission (SEC),…
- Business News
Thailand’s new green utility tariff boosts renewable energy use
The unveiling of a Green Utility Tariff (GUT) next month is set to bring about a significant progression in renewable energy use within Thailand, bolstering local businesses and attracting foreign investment. This move has been eagerly awaited by numerous companies considering expansion into Thailand, as they seek not only the necessary infrastructure but also a source of clean energy to…
- Business News
Thailand expects major rise in EV imports under new four-year plan
The director-general of the Excise Department projected a significant increase in electric vehicle (EV) imports, with an estimated 175,000 units expected to reach Thailand within two years. This comes as part of a four-year plan, EV3.5 (2024-27), which requires importers to establish a production base in the country from 2024-25 onwards, to replace imports with domestically produced EVs. The plan…
- Business News
Thailand’s EV sales projected to double by year-end
Thailand is set to witness a significant spark in electric vehicle (EV) sales, potentially doubling the figures by year-end, driven by Chinese manufacturers and approximately US$2.4 billion in government incentives, bolstering consumer demand. Krisda Utamote, Electric Vehicle Association of Thailand President, forecasted that new battery EV registrations might exceed 150,000 by the year’s end in a recent interview in Bangkok.…
- Thailand News
Phuket to host luxury boat show: Multi-billion baht yachts and jets
In a dazzling display set to elevate Phuket‘s status on the global luxury stage, the Thailand International Boat Show A Luxury Lifestyle Event is gearing up to showcase a spectacular line-up of yachts, private jets, and more. This high-profile event is poised to inject a staggering 500 million baht into Phuket’s economy, drawing in a crowd of High Net Worth…
- Thailand News
Revolutionary roadmap revealed: Thailand’s expressway blitz to slash emissions
The Expressway Authority of Thailand (EXAT) unwrapped an audacious 10-year blueprint set to roll out 200 kilometres of spanking new expressways, aimed at slashing a whopping 30% of greenhouse gas emissions by 2030. The ambitious plan is the key to unlocking Thailand’s carbon neutrality by 2050, as revealed by EXAT Governor Surachet Laophulsuk at the electrifying Sustainability Forum 2024 hosted…
