Remarks by UN Resident Coordinator in Thailand at Virtual Event "Race to Zero: Meet the World’s Race to Zero Heroes for Climate Action"

Good afternoon and a very warm welcome to all of you.

It is my great pleasure to be co-hosting this important webinar on advancing the Race to Zero together with the Global Compact Network Thailand, UNFCCC and the team of High-Level Champions.

I am delighted to be joining private sector and UN colleagues here today to decode the concept of race to zero, science-based targets and what it takes for a business to be a sustainable net zero emitter.

As Khun Noppadol mentioned, we are in a critical phase, given the scale of the crisis and the pace, at which global warming is advancing. We will all be affected by this, not in the remote future but now in our own lifetimes.

According to Deloitte’s Global Survey conducted earlier this year, 80% of business leaders expressed concern about climate change. Simply put, the majority acknowledged that the world is at a tipping point, which demands collective responsibility to mitigate the consequences of increased emissions.

At the same time, two-thirds of businesses reported cutting back on sustainability efforts in response to the pandemic and economic downturn. The slowing down of investments by the public and private sector is not only impacting the prospects of spurring growth but also the ability to scale up clean technology investments, which we are noticing in Thailand as well. 

Traditionally, environmental spending is seen as a cost burden to the economy, which is a fact when economic growth is contracting and impacting business negatively, as we see today. However,  a recently published IMF Paper, suggests that green spending can be a green multiplier contributing to anywhere between 2 to 7 times more than conventional multipliers. This is precisely why it is so critical to create an enabling environment for a green economy and business sustainability. 

In Thailand, private sector, which generates nearly 9 in 10 jobs and contributes to over 80% of GDP, has an undeniable leadership role and responsibility.

And I am pleased that the private sector has taken such a bold initiative to be climate champions, with some companies already setting the bar high by aiming to be carbon neutral over the coming decade. With leadership from the private sector in setting climate targets, will inspire all of us to be more ambitious ourselves, including our governments.

The highly anticipated UN Conference on Climate Change in Glasgow or COP26 is set to take place in just a few months’ time where governments will announce their emission reduction targets. My colleagues from UNFCCC will be very busy supporting governments and other stakeholders on this process as the world rebuilds through a green recovery.

Today’s webinar is the beginning of a dialogue with the private sector to look at practical actions that are required to enable all of us to take steps to make the transformative change in our businesses – which is no longer “optional add-on” but an “all-important necessity”.

This is our opportunity to showcase that it is within our power to transform Thailand into a green, sustainable and competitive economy given that our total carbon dioxide emissions constitute 0.7% of annual global emissions, and a per capita emission rate of 4 tons, according to Emissions Database for Global Atmospheric Research. A change in trajectory is very much possible with these levels of emissions.

I look forward to the impactful discussions today and hope you will find it informative and inspirational. Thank you.