Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), was presented an award in Service & Solution category for EXIM Thailand's Solar Orchestra Scheme from Dr. Fong Chan Onn, Chairman of Enterprise Asia and Mr. William Ng, Vice Chairman of Enterprise Asia, and joined as a guest speaker in a panel discussion on promotion of organization innovations with leading organizations at the International Innovation Awards (IIA) 2022 event held for the 6th year by Enterprise Asia at Renaissance Bangkok Ratchaprasong Hotel on December 16, 2022. The award is a prestigious regional accolade for organizations with outstanding innovations and gaining wide product, service, organization and culture acceptance.
The Solar Orchestra Scheme is an innovation developed by EXIM Thailand leveraging on the expertise and capabilities of EXIM Thailand and its alliance network covering both public and private sectors. The scheme features a new financial service model conducive to business ecosystem in response to the country's aspiration to achieve the Carbon Neutrality goal by 2050 and Net Zero emissions by 2065 along with the global community to fight climate change and global warming under the sustainable development concept and Bio-Circular-Green (BCG) economic model. The scheme has supported export entrepreneurs in business adaptation by switching to use of clean energy with solar rooftop installation to generate ecofriendly electricity in replacement of that from high-carbon power producers. This would help relieve impacts on Thai export sector from the EU's Carbon Border Adjustment Mechanism (CBAM) and measures of similar nature from countries elsewhere. Coupled with cooperation from business partners, Thai exporters, particularly SMEs, have been able to access carbon credit market at low cost under Thailand Voluntary Emission Reduction (T-VER) Program developed for the first time in Thailand by Thailand Greenhouse Gas Management Organization (TGO). EXIM Thailand has granted to entrepreneurs 100% loan amount, and settlement of which will be made by them upon completion of solar rooftop installation by business partners and commencement of power generation.
"With our new tagline - One Step Ahead for All Development, EXIM Thailand will brave challenges alongside all sectors to bring Thai business sectors to a firm and healthy position on the Next Normal global front using our personnel's expertise and availability in developing new business operation tools and models that would pave the way for a balanced global economic, social and environmental growth," added Dr. Rak.