There is no time to waste in the fight against climate change. Armed with that knowledge, Thailand’s top energy conglomerate, PTT Group, has set an ambitious target of reaching net zero emissions by 2050 -15 years ahead of the national goal set by the government.

PTT’s commitment reflects the broader determination of the Thai private sector to drive sustainability in the Kingdom’s energy sector, economy, and society. As the largest energy conglomerate in Thailand, PTT is leading the charge, and local competitors are also shifting to renewables and adopting greener business practices.

At COP26 in Glasgow in 2021, the Thai government announced its goal of achieving net-zero emissions by 2065 and committed to accelerating its medium-term emissions reduction goal to 40 percent by 2030.

According to Jatuporn Buruspat, Permanent Secretary of the Ministry of Natural Resources and Environment, PTT plays a pivotal role in supporting Thailand’s climate goals. Since PTT Group is responsible for nearly one-sixth of the country’s total carbon emissions, the company’s decarbonization and carbon capture and storage efforts are critical to achieving these goals, Jatuporn noted.

Kongkrapan Intarajang, CEO and President of PTT, emphasized that the company will balance business growth with sustainability to ensure Thailand’s energy security.

PTT divides its operations into two main sectors: hydrocarbon and power businesses, and non-hydrocarbon businesses. In the hydrocarbon sector, PTT focuses on reducing carbon emissions and aligning with global trends, including the integration of hydrogen energy and carbon capture and storage (CCS) technology. The company has been forging partnerships to produce electric vehicles domestically and is expanding into logistics and life sciences in the non-hydrocarbon sector.

“Investors are looking for more substantial outcomes, and we need to refocus on smart investments, doing what we excel at while simultaneously advancing sustainability, reducing greenhouse gases, and promoting growth,” Kongkrapan said.

Source: Royal Thai Embassy, Washington D.C.