In line with the Thai government's policy statement to parliament today which outlines plans to promote a green economy, achieve carbon neutrality, and establish Thailand as ASEAN's leader in carbon dioxide emission reduction, as well as positioning the country as ASEAN's hub for carbon credit trading through the Stock Exchange of Thailand (SET), the Thai bourse recognizes the crucial role of building a comprehensive green economy ecosystem in collaboration with public and private sector partners to facilitate Thailand's transition to a low-carbon society.
Key initiatives include preparing and enhancing the business sector's capacity to adapt and capitalize on opportunities arising from this transition, as well as developing essential infrastructure, such as the SET ESG Data Platform. This platform will serve as a central hub connecting ESG (Environmental, Social, and Governance) data from businesses and investors - a critical component for developing a sustainable finance ecosystem.
In addition, SET has launched the SET Carbon system, a carbon footprint calculation tool for listed companies and businesses in the supply chain. This tool is aimed at improving greenhouse gas management efficiency, while also creating a Standard Master Trading Agreement to streamline carbon credit transactions.
A key mechanism supporting businesses in their transition towards net-zero greenhouse gas emissions is an efficient and transparent carbon credit trading center. SET is currently studying the development of regulatory mechanisms and trading systems for this purpose. In this endeavor, SET is collaborating with key stakeholders, including: The Securities and Exchange Commission; Department of Climate Change and Environment under Ministry of Natural Resources and Environment; and Thailand Greenhouse Gas Management Organization (Public Organization). The collaborative effort aims to design an appropriate model for carbon credit trading and push for the resolution of regulatory obstacles to achieve sustainability goals while simultaneously driving the country's economic and social progress