Sustainable Business Lab Thailand

Driving Sustainability through SCP Implementation: A Path Toward Thailand’s Net Zero Goals On December 23, 2024, the Thailand Sustainable Consumption and Production (Thai SCP) Network, in collaboration with the Department of Climate Change and Environment (DCCE), the Office of National Higher Education Science Research and Innovation Policy Council (NXPO), hosted its Conference under the theme: “SCP Implementation through Decarbonization and Multistakeholder Partnership.” The event highlighted Thailand’s collective efforts to advance sustainable consumption and production practices, aligning with the nation’s Net Zero emissions target and SDG 13: Climate Action. Key Objectives of the Conference: 1. Knowledge Sharing: Promote understanding of sustainable consumption and production (SCP) as a tool to combat climate change. 2. Policy Integration: Showcase Thailand’s SCP Action Plan (2017–2037) and its pivotal role in reducing greenhouse gas (GHG) emissions. 3. Stakeholder Collaboration: Strengthen public-private partnerships to drive decarbonization strategies. 4. Green Economy Development: Advance innovative solutions and investment strategies in green jobs, supply chains, and technologies. Highlights and Distinguished Guests: The conference was inaugurated by Dr. Wijarn Simachaya, President of the Thai SCP Network, and Khun Komes Phutthasorn, Deputy Director-General of the DCCE. Their keynote focused on Thailand’s roadmap for sustainable production and consumption, emphasizing the country’s transition to a low-carbon economy. Notable speakers and contributors included: • Dr. Prinyaporn Suwannakes, Director-General of the Pollution Control Department. • Dr. Mushtaq Memon, Regional Coordinator, UNEP Asia Pacific. • Dr. Surachai Satitkunarat, Director, NXPO. • Representatives from diverse sectors. Discussions centered on integrating SCP practices into Thailand’s NDC 3.0, outlining strategies for absolute emission reduction through unconditional and conditional partnerships, and presenting the European Green Deal’s Carbon Border Adjustment Mechanism as a model for green economic transformation. Actionable Insights: 1. Adaptation Plans: The development of regional risk maps and integration of climate adaptation into ministry-level strategies to prioritize vulnerable sectors. 2. Policy & Finance: Mobilizing green financing mechanisms and institutional structures to implement climate resilience plans effectively. 3. Innovation: Encouraging businesses to adopt green certifications, such as Green Labels and Cool Mode fabrics, to meet evolving environmental standards. The conference reaffirmed Thailand’s commitment to achieving Net Zero by 2065. Multistakeholder collaboration was identified as a cornerstone for success, enabling a just transition across industries and sectors. The integration of SCP practices is not merely an environmental obligation—it is an economic and societal imperative that will shape Thailand’s future. #TEI #SCP

How do brands, as a Christmas gifts to everyone, manage their decorations and celebrations with sustainability mindset? Let’s #celebrate sustainably. #sustainabledevelopment #brands #mindset #impact #collectivegrowth

President Trump's climate policies from 2024 to 2030 have sparked significant debate. His administration has focused on deregulation and supporting fossil fuels, leading to a rollback of many climate initiatives. This approach has raised concerns about increased carbon emissions and the potential impact on global climate efforts. It’s interesting how global corporations respond to climate crisis as the impacts are borderless. As we navigate these changes, it's crucial to stay informed and engaged in the conversation about our planet's future. 🌍 #ClimatePolicy #Sustainability #EnvironmentalImpact #BRANDi

📌Thailand’s Digital Competitiveness: A Call for Continued Growth and Investment At the recent “Digital Nation: Making It Happen” seminar, held by the Electronic Transactions Development Agency (ETDA) and Thailand Management Association-TMA (Official), experts and thought leaders gathered to discuss the strategies needed to transform Thailand into a Digital Nation. Thailand has ranked 37th in the IMD World Competitiveness Center ’s “Digital Competitiveness Ranking for 2024”, reflecting a drop of two spots from the previous year. While the nation’s technology infrastructure remains its strongest area, it saw a significant decline—down 8 spots—highlighting the need for ongoing investment in digital capabilities. Key factors like Knowledge and Future Readiness showed slight improvements, but Thailand still lags behind in these critical areas, ranking 40th and 41st respectively. As Professor Arturo Bris of IMD noted, focusing not just on technology but also on knowledge development and future-readiness will be essential for the nation to maintain its competitive edge in the global economy. Thailand must focus on three key areas to enhance its digital competitiveness: 1. Strengthening Education in Technology: Enhancing STEM education, particularly in computer science, is crucial for developing the next generation of digital leaders. 2. AI Research and Development: Boosting AI research and its commercial applications will be essential for ensuring Thailand’s continued relevance in the global tech landscape. 3. Policy and Talent Ecosystem: There is an urgent need to address gaps in workforce development, particularly in scientific and technical fields, and update regulatory frameworks to support innovation. Thiranan Srihong, TMA Center for Competitiveness Chairman, outlined key policy recommendations to boost Thailand’s digital competitiveness. He called for increased investment in digital infrastructure, upskilling human capital, and strengthening regulatory frameworks to support emerging technologies. Thiranan also stressed the need to foster an innovation ecosystem and to build a digital government that enhances public services and efficiency. During the panel, including Professor Wisit Wisitsora-At, Permanent Secretary of the Ministry of Digital Economy and Society (Thailand), highlighted the government’s role in driving digital policy and innovation, joined by AVM Amorn Chomchoey, Secretary-General of the National Cybersecurity Committee, Ariya Banomyong, CEO of Transformational. Digital transformation is essential for Thailand’s future competitiveness. With a clear call for innovation, education, and policy reform, Thailand has the opportunity, based on the collaboration between government and industry, to rise to the challenges of the digital age and to maintain its competitive edge in the global economy. #DigitalCompetitiveness #FutureReady #DigitalEconomy #Innovation #SmartNation #ASEAN #DigitalNation #TechPolicy #STEMEducation

CFNT Launches New Report on Boosting Residential Solar Financing in Thailand 🌞 The Climate Finance Network Thailand (CFNT) has released a groundbreaking research report titled “Here Comes Everybody: Boosting Residential Solar Financing with Crowdfunding Models in Thailand,” led by Sarinee Achavanuntakul, Director of CFNT. This insightful report sheds light on the challenges and opportunities in scaling residential solar adoption in Thailand, a country with immense solar potential but slow uptake in the residential sector. Despite significant cost reductions in solar technology since 2013, the growth of residential solar PV has been sluggish, hindered by high initial costs, limited government financial support, and low feed-in tariffs (FiTs). 🔑 Key Findings & Insights: • Barriers to Residential Solar Adoption: High upfront costs, limited government incentives, and low FiT rates. • The Power of Crowdfunding: Crowdfunding offers a viable solution to overcome these challenges, especially for unbanked populations and smaller communities. With the Thai crowdfunding market already exceeding 3.8 billion THB in 2022, this model is poised for growth. • Global Trends: Crowdfunding in renewable energy is growing rapidly, projected to increase from $1.2 billion in 2024 to $1.27 billion by 2028. 🌱 Policy Recommendations: 1. Increase solar PV return on investment (ROI) for residential adopters. 2. Facilitate innovative financing options, such as crowdfunding platforms, to ease financial barriers. 3. Create a one-stop service platform to simplify solar adoption. 4. Promote competition in the electricity market to drive down prices and increase accessibility. By harnessing the power of crowdfunding and adopting supportive policies, Thailand can unlock its vast solar potential, make clean energy more accessible, and contribute to its renewable energy targets in line with global climate goals. The CFNT report is a crucial step in advancing sustainable finance and accelerating Thailand’s transition to a low-carbon economy. Let’s collaborate and push forward with solutions that drive real impact. 🌍 #SustainableFinance #SolarEnergy #Crowdfunding #RenewableEnergy #Thailand #ClimateAction #EnergyTransition #GreenFinance #CleanEnergy #SustainableBusiness #CFNT #LowCarbonEconomy

#Investing in sustainability isn’t just good for the planet—it’s smart business. Companies prioritizing sustainable practices see improved efficiency, reduced costs, and stronger brand loyalty. The #ROI of #sustainability is clear: resilience, growth, and long-term success. #sustainability #ESG

✨ Shaping Thailand’s Energy Future: Insights from the “2024 Annual Petroleum Outlook Forum” On November 21, 2024, PTT Group and the สภาอุตสาหกรรมแห่งประเทศไทย | The Federation of Thai Industries hosted the 2024 Annual Petroleum Outlook Forum under the theme “Regenerative Thailand with Cleanergy.” The event brought together government, private sector, and academic leaders to discuss Thailand’s energy future, focusing on global trends, local challenges, and pathways to sustainability. Key Takeaways: 📈Global Energy Outlook: • The forum examined oil demand and supply outlooks for 2024, including the post-U.S. election impact on global energy markets. Speakers stressed the need for a balanced approach to economic growth and the transition to clean energy. • As the world grapples with energy security and carbon reduction goals, the focus on renewables and energy efficiency is intensifying. 💡Thailand’s Energy Strategy: • Hydrogen and carbon solutions were highlighted as critical for Thailand’s transition to sustainable energy. Leaders from PTT Group, IRPC Public Company Limited and Thaioil Group discussed how Thailand can leverage its strengths in clean energy technologies to reduce emissions and enhance energy security. • Renewables—solar, wind, and hydrogen—are essential to diversify Thailand’s energy mix and support long-term energy sustainability. 🔐Impact of Global Trends on Energy: 1) Global shifts such as deglobalization and reshoring will have mixed effects: • Short-term price reductions are expected as industries relocate to regions with lower geopolitical risks, potentially affecting global oil prices. However, this may delay investment in clean energy technologies. • Clean energy sectors could see slowdowns due to a focus on energy self-sufficiency, but Thailand has an opportunity to capitalize on solar panel exports, as China’s dominance in solar manufacturing faces challenges. 2) Oil Demand from India and China: • India’s growing economy is driving increased oil demand, putting upward pressure on global oil prices. As a major oil importer, Thailand will likely face higher energy costs. • China, the world’s largest oil importer, continues to expand its industrial base, maintaining strong oil demand despite a shift toward renewables. This ongoing demand will impact global energy prices and supply availability. ⭐️Towards #Cleanergy: The forum reinforced that Thailand’s energy future depends on innovative solutions, focusing on renewables, hydrogen, and carbon reduction technologies. Thailand has the opportunity to lead the energy transition while building a sustainable and resilient energy future. #EnergyTransition #CleanEnergy #Sustainability #Thailand #OilDemand #Renewables #GlobalTrends #Hydrogen #FutureEnergy #PTT #PetroleumOutlook2024 #India #China #EnergyCompetitiveness

Thailand: Navigating the Perfect Storm and Unlocking Opportunities for Sustainable Growth At today’s seminar titled “Opportunity, Hope, and Reality” organized by Prachachart Business Media, the conversation was rich with insights about the challenges and opportunities ahead for Thailand. Thailand is currently facing a complex set of challenges, with a glaring fact: the country remains in the highest ranks of inequality. SMEs continue to struggle with productivity, and Thailand seems to be caught in the perfect storm of economic and political uncertainty. However, there are bright spots amidst the challenges: ✨ Bright Sides: • Thailand has the highest number of medical facilities certified by JCI—a testament to the country’s healthcare sector’s capabilities. • Fixed broadband download speed is among the fastest in the region, enhancing digital accessibility. But the road ahead is not without its obstacles: ⚠️ Challenges: • A political stability index that remains volatile. • Ease of doing business continues to be a barrier for both local and foreign investors. • Thailand’s ranking in the IMD World Competitiveness Report raises concerns, particularly in corruption levels. So, where does hope lie, and how can Thailand turn these challenges into opportunities? 🌱 Hope & Solutions: • Thailand’s well-diversified economy can make the country more resilient to external shocks. Leveraging its strengths and transforming them into tangible opportunities is key. For instance, turning private sector strengths into opportunities: • Moving from “mass-market” strategies to focusing on local markets (e.g., selling to secondary cities). • Supporting private sector participation in public services and infrastructure development through incentives like tax breaks and franchise models can spur growth and inclusivity. Similarly, government support can be better leveraged: • Channeling subsidies effectively can bolster local businesses. • Programs to increase purchasing power—such as lowering the underground economy—can help stimulate demand and stabilize the market. Finally, Global Trends offer a wealth of opportunities: • Thailand has the chance to transition from being a manufacturing-led economy to becoming an integral part of global supply chains, strengthening its position in the global market. Thailand’s future lies in moving from a “winner takes all” mentality to an “inclusive economy”—where everyone has a stake in the nation’s success. By focusing on education, infrastructure, and strengthening the ease of doing business, Thailand can shift the paradigm towards more sustainable, shared prosperity. Despite the challenges, Thailand has ample opportunities to thrive. As we turn “Opportunity, Hope, and Reality” into actionable goals, collaboration between the government, private sector, and society will be essential for long-term success. #EconomicResilience #InclusiveGrowth #SMEs #PublicPrivatePartnership #Innovation #GlobalTrends

The Green Revolution, or the Third Agricultural Revolution, was a transformative period that dramatically increased crop yields through the adoption of new technologies. Starting in the early 20th century in developed countries, it spread globally by the late 1980s. Key innovations included high-yielding varieties of crops like dwarf wheat and rice, along with the widespread use of chemical fertilizers, pesticides, and controlled irrigation systems. These advancements helped boost food production but also highlighted the need for more sustainable agricultural practices moving forward. Power resources and generation capacity are critical factors driving the rise and fall of the sustainable agriculture in the current as well as the next century. #Agriculture #GreenRevolution #Innovation #Sustainability

“Biodiversity is important. It’s not just about single animal or plant species. We talk about the need to restore the ecosystem as a whole.” Sarinee Achavanuntakul Co-founder of Fair Finance Thailand & Director of Climate Finance Network Thailand (CFNT)