Finance Minister Pichai suggests the new government create a central market for trading carbon credits, hoping that all parties will join in pushing ESG to support global trends.
Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, said at the Prachachat ESG Forum 2024 seminar, ‘Turn the crisis into an opportunity,’ that to turn the crisis into an opportunity, the new government must focus on taking care of the ESG environment in 3 areas: 1. Promoting a carbon credit calculation system so that the world knows that Thailand is moving forward on the environment; 2. Creating policies and regulations to seriously promote carbon credits to build confidence with foreign countries; 3. Creating a central market for trading and creating a carbon tag tax system.
The new government must establish a serious trading market in Thailand, with a clear reference price and price comparison with neighboring countries, in order to keep up with global trends. The central market for selling carbon credits in
Singapore has already been implemented at a price of 34 US dollars per ton of carbon, while the global market price is 100 US dollars per ton. Thailand’s carbon credits are still priced at 2 US dollars. We must accelerate the establishment of a serious central market. Currently, foreign investment may flow into the country in the amount of 2 trillion baht, which is intended to invest in green energy and environmental care. Thailand must therefore turn to renewable energy, including energy from dams, solar cells, and other areas, in order to gain international trust and acceptance as a trading partner for foreign investment, because foreigners have focused on ESG investment.
Mr. Kitipong Urapeepatanapong, Chairman of the Stock Exchange of Thailand, said that ESG has become a new world rule as ASEAN becomes the growth center of the new world. He admitted that Thailand is still far from the overall goal. ESG investment is only 60 billion US dollars. The Stock Exchange of Thailand aims to drive ESG. It must star
t today. Support sustainable investment. Connect savers in ESG businesses The Stock Exchange of Thailand has focused on creating an ESG Data platform to upgrade listed companies and connect with investors.
The Stock Exchange of Thailand hopes to create an ecosystem to develop sustainability in the Thai capital market and has also established the Thailand ESG Fund after the public still invested in Thai ESG lower than the target of 106,053 persons, totaling 100,000 persons. Therefore, it has set a goal for listed companies to disclose more information on sustainability, such as listed companies disclosing information on greenhouse gas emissions by 47 percent, and the assessment of the SET ESG Rating by 20 percent, by having all parties involved in sustainability.
Mr. Vitai Ratanakorn, President of the Government Savings Bank, said that income from large businesses has been used to support small businesses to take care of society, aiming to solve debt problems, give them the opportunity to regain their career
s and have sustainable income to support themselves, and not ruin their financial history by restructuring debts for 1.1 million people, alleviating debt burdens by reducing MRR interest rates for 850,000 people, taking care of them to escape NPL debts by forgiving debts for 720,000 small individuals, and collaborating with 67 universities, 54 colleges, and technical colleges to help create 403 career development courses, hoping to help 410,000 people earn income and have careers, and creating sales channels for 38,000 shops. Taking care of society is therefore the main position of the Government Savings Bank.
Mr. Kongkrapan Intarajang, PTT, said that the PTT Group aims to reduce greenhouse gases by continuously collecting more carbon credits. In the future, hydrogen energy will be applied in various industries to reduce carbon usage. If Thailand can produce hydrogen at a cheaper price, PTT Group companies are ready to use it more in the business sector. Cooperation with the government sector will push for i
ncreased use of hydrogen energy in the country to achieve the Net Zero target.
Source: Thai News Agency