Climate Strategy and Market Opportunities Overview

Why is this Important?

Today, the world is facing global warming and climate change situations in levels never experienced before. Despite increased awareness in various sectors, greenhouse gas emissions levels hardly reduced. Electricity and power generation business is one of the key industries contributing to carbon dioxide emissions, a greenhouse gas responsible for global warming and climate change. Hence, changes in this business would significantly impact the world. The substitution of coal for renewable energy for power generation is a major transition in this industry. Other operations e.g. watershed restoration or preserving the ecosystem from deterioration amidst unpredictable weather conditions also contribute to the business transition initiative.

EGCO Group realizes the importance of preventing and mitigating the climate change situation we are experiencing. The company is therefore committed to operating with environmental responsibility and determined to minimize greenhouse gas emissions to ensure all stakeholders that the company’s operations would not pose negative impacts on the environment. EGCO Group has sought to invest in renewable energy-related businesses or other businesses having the potential to build a strong revenue to the organization continuously. This includes balancing fuels used in power generation to maintain energy stability, increasing investment in renewable and clean energy continuously every year, and establishing the Thai Rak Pa Foundation that has been conserving and restoring major watersheds of Thailand for more than 20 years. Nevertheless, considering the world’s energy trend, Thailand has announced in the United Nations Climate Change Conference (COP26) to achieve carbon neutrality by 2050, and achieve net zero emissions by 2065. EGCO Group has therefore changed its business operation to align with such direction and challenged even more. In 2023, EGCO Group announced its No Coal Policy, signaling its intention to refrain from investment in additional coal-fired power plants, and moving toward Net Zero by the year 2050.