GCNT-United Nations Thailand mobilize Thai private sector to help reverse global crises and achieve the national goal of restoring 30% of ecological areas by 2030

HIGHLIGHTS

• Prime Minister General Prayut Chan-ocha presided over GCNT Forum 2022 during which GCNT members committed to “finding solutions to global warming and biodiversity challenges.” The event was attended by Varawut Silpa-archa, the Minister of Natural Resources and Environment; Gita Sabharwal, the UN Resident Coordinator in Thailand; and prominent GCNT members.

• GCNT encompasses more than 100 leading agribusiness, food, energy, finance, technology, and industry companies. The declaration of commitment by GCNT members highlights the importance of the private sector to enact measures to reduce and offset greenhouse gas emissions and to protect and revive natural habitats and biodiversity resources so as to help Thailand protect at least 30% of its land and marine areas by 2030 as per the national goal.

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November 2, 2022 — The Global Compact Network Thailand (GCNT) and United Nations Thailand hosted the high-level sustainability leadership conference GCNT Forum 2022: Accelerating Business Solutions to Tackle Climate & Biodiversity Challenges with Prime Minister General Prayut Chan-ocha presiding over the event.

Together with Varawut Silpa-archa, the Minister of Natural Resources and Environment, and Gita Sabharwal, the UN Resident Coordinator in Thailand, the prime minister was witness to a declaration of commitment by GCNT members to enact measures to reduce and offset greenhouse gas emissions, revive natural habitats and biodiversity resources, and contribute to Thailand’s national goal of protecting at least 30% of its land and sea areas by 2030.

Prime Minister Prayut delivered a keynote address on “Thailand’s commitment and action to reduce global warming and damage to nature,” emphasizing that by alleviating climate change, not only can we solve natural crises but also ensure sustainable economic growth.

At the APEC Economic Leaders’ Meeting, which is scheduled to take place in Bangkok on November 18-19, Thailand as the host country has included the principle of its Bio-Circular-Green (BCG) Economic Development and the balance between economic growth and natural integrity in the main content of the APEC Output Document, known as the “Bangkok Goals on BCG Economy,” or simply “Bangkok Goals.” This will be the main agenda among the leaders from this economic zone.

The success of the “Bangkok Goals” will pave the way for concrete and sustainable regional cooperation to tackle global crises such as climate change and biodiversity loss. To this end, all partners must transition toward clean energy, the sustainable management of forests and marine resources, waste reduction and improved waste management, and the promotion of green trade and investment. These objectives are in line with Thailand’s efforts in its collaborations with the international community to solve the climate crisis and achieve Thailand’s Carbon Neutrality by 2050 and Net Zero target by 2065.

The Prime Minister stated that Thailand has great potential for enhancing biodiversity and can derive advantages from it, which is why it is important to optimize this national strength through creating added value from biological resources, upgrading agricultural and food products, investing in renewable energy sources and sustainable materials, and promoting responsible tourism.

Thailand is a party to international cooperation under the Convention on Biological Diversity (CBD) and is actively collaborating with other nations to establish a global biodiversity framework after 2022, to be approved at the CBD COP15 meeting this December, General Prayut said.

The Prime Minister also noted that the Thai private sector has started to adjust its business model with regard to resource security and sustainability. He stressed that it is essential that the entire sector move forward in unison so that small and medium-sized enterprises, which make up the bulk of businesses in Thailand, are supported in their transitioning efforts. This process will create strong and much-needed groundwork for Thailand, built with the cooperation of all businesses and sectors.

“Development that focuses solely on growth and profits while overlooking the environment does not lead to sustainability but will only deepen inequality,” Prime Minister Prayut said. “It’s time we rethought our mindsets, lifestyles, economic models and business models, and achieved that sustainable balance. Profitability can go hand in hand with conservation of resources, environment, and society, and so must be.”

In his own address at the event, Mr. Supachai Chearavanont, President of the Global Compact Network Association of Thailand and Chief Executive Officer of the Charoen Pokphand Group, highlighted the sustainability mindset of GCNT members, citing their declaration of commitment last year to advance Thailand toward the Net Zero goal by pledging to reduce net greenhouse gas emissions to zero by 2050, or at the latest by 2070.

To date, GCNT members have reduced their GHG emissions through various projects by at least 8 million tons of CO2, which is equivalent to 1.6 million cars being taken off the country’s roads, Supachai explained.

The GCNT Forum 2022 was held before the APEC meeting in Thailand in order to raise awareness and demonstrate that the Thai private sector is ready to take concrete steps in accordance with the government’s BCG model and the concept of “Open. Connect. Balance,” which is the main theme of Thailand as the APEC host country.

A primary factor of success lies in mutual awareness and trust, especially as the world is currently facing political strife, armed conflicts and economic slowdowns in addition to environmental risks resulting from the mismanagement and overexploitation of natural resources. All sectors, including businesses and the government, must be prepared to cope with the impacts in a timely manner, Supachai stressed.

Crucially, an emphasis must be on solving problems creatively and building a new generation of forward-thinking and dedicated leaders. The adoption of innovative technologies by large enterprises and SMEs alike is also key. Effective marketing and financial mechanisms as well as regular reporting are indispensable for enhanced transparency and performance monitoring.

“Environmentally responsible business practices, coupled with the development and delivery of social values, will be able to meet consumer needs and open up business opportunities for sustainable growth and organization resilience that benefit the overall economy,” the GCNT’s President said.

Gita Sabharwal, the United Nations Resident Coordinator in Thailand, highlighted three key areas for tackling the global crises of climate change, biodiversity loss and pollution.

First, the private sector, particularly GCNT members, can play an important role in advancing sustainable development goals by investing in cleaner technologies, optimizing resource utilization, and increasing responsible investment to accelerate an environmentally-friendly transition through the tangible reduction in greenhouse gas emissions, Sabharwal explained.

Second, financing from the domestic financial market towards sustainability-related projects can make a marked difference in accelerating progress on the SDGs.

Third, partnerships with the UN system can facilitate Thailand in gaining access to the knowledge base and experience of global experts, including technical expertise in carbon and energy markets, best low-carbon technologies, waste management, eco-friendly construction, sustainable tourism, and protection of biodiversity and endangered species.

The UN stands with the Thai government and businesses to help them reap the benefits of sustainability in an efficient and cost-effective manner while also taking best practices to the global stage, the Resident Coordinator noted.

“The world can learn from the role of the Thai private sector and the driving force of the GCNT members on the global stage to achieve the SDGs. This is an example of hope and strong leadership of Thailand. It is telling us that change can happen if all stakeholders work together and leave no one behind,” she explained.

Mr. Varawut Silpa-archa, Minister of Natural Resources and Environment, said that his ministry would operate in several key areas: 1) policy, 2) application of technology in trade and investment, 3) development of domestic and international mechanisms for carbon credit market, 4) increasing GHG storage and reabsorption facilities, and 5) passing the Climate Change Bill to enhance the participation level of Thailand from voluntary to mandatory.

Thailand will establish provisions on carbon credit management and necessary financial mechanisms, GHG emissions reduction targets by sectors, and target transmissions.

“Thailand has the potential and readiness for development. I believe in the capacity of the Thai people. Cooperation from all sectors will guide Thailand to sustainable Carbon Neutrality. We have to join hands and protect this world for our children and grandchildren,” Varawut said.

A highlight of the GCNT Forum 2022 was the declaration of commitment by GCNT members to tackle climate change and protect nature in a concrete, measurable, and scalable manner. Realizing the key role that biodiversity and ecosystem services play in sustainable business operations, the members of the Global Compact Network Thailand (GCNT) have been striving for concrete actions in partnership with all stakeholders to protect and revive natural resources and biodiversity, reduce and offset greenhouse gas emissions, promote nature-based solutions, mitigate the impacts of climate crisis, and increase biodiversity.

The members of the GCNT will formulate a policy to manage and utilize biodiversity resources sustainably and fairlythroughout the supply chain. They will put in place a biodiversity value monitoring system, and engage communities and stakeholders from all sectors through financial support, scientific management, and international cooperation to help Thailand achieve its goal of protecting at least 30% of targeted land and marine areas by 2030.

The GCNT Forum 2022 took place at the United Nations Convention Centre and via an online platform in a sustainable event format, in line with the guidelines of the Thailand Convention and Exhibition Bureau (TCEB). Among over 100 sustainability leaders from all sectors who attended the event were Ms. Ruenvadee Suwanmongkol, Secretary-General of Securities and Exchange Commission (SEC), and Dr. Pakorn Peetathawatchai, President of Stock Exchange of Thailand (SET), as well as senior executives of top Thai businesses such as the Charoen Pokphand Group, Charoen Pokphand Foods, CP All, NR Instant Produce, ThaiBeverage, True Corporation, Bangchak Corporation, IRPC, PTTEP, PTT, Huawei Technologies (Thailand), Kasikornbank, L’Oreal (Thailand), Pranda Jewelry, PTT Global Chemical, SCG Packaging, Thai Oil, and Thai Wah.

The event consisted of five forums for five topics: 1. Solutions to mitigate climate change; 2. How to support businesses by sector in reversing biodiversity loss (2.1 energy and transport, 2.2 smart cities, real estate, retail, and consumer products, 2.3 investment options and the role of the capital market); 3. Defining biodiversity strategies and targets – the role of business and consumers; 4. How to engage the business sector in climate and nature protection; 5. Conclusion and next steps.

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Note to editors:

GCNT (Global Compact Network Thailand) was officially established in December 2018 by 15 founding members in Thailand. Currently a 110-member organization, GCNT is one of the local networks of the UN Global Compact, the world’s largest sustainable development network that campaigns worldwide for the private sector to formulate strategies and adhere to sustainable economic principles. Under 10 universal principles, covering four areas (human rights, labor standards, the environment, and anti-corruption), the UN Global Compact carries out activities that help advance UN development goals such as the SDGs and the Paris Agreement.

The United Nations in Thailand has been working with the Thai government and the people of Thailand for over 50 years to establish inclusive and sustainable development based on national agendas and frameworks. The UN Country Team consists of 21 UN agencies, each conducting its own specific projects and activities in Thailand through cooperation with the Thai government, national stakeholders, civil society, academic institutions, private donors, and the media. It also works closely with United Nations ESCAP and UNFCCC RCC Bangkok.