Resident Coordinator's Remarks at the GCNT Forum 2022 "Accelerating Business Solutions to Tackle Climate & Biodiversity Challenges"

[as prepared for delivery]

Your Excellency Prime Minister Prayut Chan-o-cha,

Honorable Minister Varawut Silpa-archa,

Khun Suphachai Chearavanont, President GCNT,

Business leaders and UN colleagues.

It is an honor to address you today.

The world is facing unprecedented crises from surging food and energy costs to mounting debt and global health concerns.

The recent floods in Thailand are a stark reminder of the devastating impact of the triple planetary crisis of climate change, biodiversity loss and pollution.

These are unfolding against a backdrop of fiscally stressed governments, with the private sector holding back on scaling up investments.

However, there is cause for hope if we take action now, as the Secretary-General told us on UN day last week.

Your Excellency, these are challenging times, but I see great potential for transformative change in Thailand, especially when we all demonstrate leadership and work in solidarity.

During my recent intervention at the UN General Assembly, I highlighted Thailand’s strong fundamentals on sustainability guided by the sufficiency economy philosophy, the BCG model, and the SDGs.

Having worked closely with business and government leaders, I have seen first-hand their innovative thinking and genuine commitment to sustainability, which can enable Thailand to address these challenges and find opportunities in a changing world.

Equally vital is the role of the GCNT, a platform to leverage private sector leadership to invest in cleaner technologies, optimize resource use, increase responsible investments, and promote circularity to accelerate the green transformation.

Today, I want to highlight three themes.

First, global leadership includes the private sector’s central role in making the SDGs a reality.

I have just come back from Mae Hong Son, where I saw public private partnership in action. The private sector is working together with the Ministry of Public Health and the UN in ensuring safe births for ethnic minorities, through traditional birth attendants and front-line health workers.

The private sector is also showing great leadership on climate action with most GCNT members committed to achieving carbon neutrality by 2050.

Starting last year, the private sector has reduced its carbon emissions by 7 million tons annually, amounting to nearly 2% of Thailand’s GHGs.

They are also taking steps to ensure their operations support “no net loss” in the biological diversity of genetics, species, and ecosystems.

As a result, the GCNT can be champions, not only on climate action but on the preservation of nature as well.

As top businesses, we the United Nations count on your leadership.

Second, raising ambition is necessary to unlock sustainable financing from domestic financial markets.

According to UNEP, half of global GDP is dependent on nature and every dollar invested in restoration creates up to $30 in economic benefits.

Your Excellency, this kind of investment becomes pronounced when the Government creates incentives by defining the pathway to support a nature-positive economy.

The finance sector must be fully engaged as we tackle these challenges in solidarity.

In two weeks, we will be meeting banks, investors, and asset managers to take stock of progress on the commitments made last year on sustainable financing and discuss the way forward.

The regulators have shown foresight by establishing a sustainable investment ecosystem, institutionalizing the One Report reflecting ESG, human rights and emission reductions, while seeking to standardize the green taxonomy, which is fundamental for stability of investments.

Through a joint ADB-UN partnership, which we are hoping to finalize soon, we aim to develop a pipeline of bankable projects for waste and water management in cities across Thailand and the region to mobilize a billion dollars over five years.

Transformative investments of this kind will need to follow in alignment with the Principles of Responsible Banking and Investment to seize the momentum.

Your Excellency, we understand Thailand is currently seeking to raise ambitions to reduce its GHG emissions. This will truly be encouraging and demonstrate Thailand’s commitment on climate action ahead of COP27. 

Third, the UN needs to continue engaging positively to make a difference.

By leveraging our convening power and technical expertise, the UN stands as a steady partner for business and government to implement sustainability efficiently and cost-effectively.

The UN led by UNIDO, UNEP, and UNHABITAT is bringing its expertise in carbon and energy markets, best available low-carbon technologies, waste management assessments and green construction.

Partnerships with over 370 large and medium-sized companies are translating into greener operations and improvements in their bottom line towards sustainable high-value growth.

Similarly, the UN led by UNDP and UNESCO are supporting sustainable tourism and promoting the creative economy. UNDP’s technical expertise together with local communities has protected three endangered species and their habitats: the Eastern Sarus Crane, Spoon-billed Sandpiper and Water Lily.

UNESCO’s Sustainable Travel Pledge with Expedia is resulting in over 500 hotels in Thailand eliminating single-use plastic products and investing in local culture.

This shows that great change can result if all stakeholders work together to leave no one behind.

In this spirit, young people must be brought front and centre into policy agendas, and I am heartened by their can-do spirit in Thailand.

They are making their voices heard globally through the UN “Youth4Climate” forum, including at the General Assembly this September.

Their recommendation to the new UN Youth Office to serve as a connector between the UN, government, civil society, and young people has already been adopted.

Let me conclude by saying the world can learn much from Thailand and the GCNT can serve as an inspiration on the global stage.

Your Excellency, today’s forum is an example of hope and of Thailand’s continued leadership, and a chance to show what we can achieve when we work in solidarity.

Thank you for this opportunity to address you and highlight good practices, as well as the key challenges that we must urgently address.