Thailand’s carbon tax: Battling climate change, but at what cost?
Thailand is set to become the second country in Southeast Asia to impose a carbon tax, a move seen by many as crucial to securing a sustainable future.
“We plan to start collecting carbon tax later this year, probably from around October,” Ekniti Nitithanprapas, director-general of the Excise Department, said earlier this month. Continued …
SCG Introduces 3 Innovations Making Low-Carbon Society ‘Possible’
As the world is shifting from the global warming phenomenon to “global boiling”, which aggravates the severity of the environmental problem, the effort to create a “low-carbon society” has become an urgent priority.
However, it is a challenging task to encourage business organizations, consumers and all sectors in the society to go beyond their same old behavior to a new eco-friendly way. Continued …
Grab Unveils ESG Report 2023
Grab, a leading superapp in Southeast Asia, has released its ESG Report 2023, providing an overview of its performance in creating business sustainability across the region in the past year. The report focuses on three key areas: making a positive social impact by creating income opportunities and enhancing the quality of people’s lives; protecting the environment; and fostering sustainable practices while integrating ESG into business strategy for long-term value creation.
Key highlights from 2023 include enabling driver- and merchant-partners to earn over USD 11 billion, disbursing loans worth over USD 1.5 billion, reducing 71,000 tCO2e, and cutting single-use plastic by 7,365 tons. Continued …
Power generation investment to reach Bt1 trillion within 6 years
Investment in the development of new electricity generation facilities, aimed at promoting renewable energy, is expected to reach 1 trillion baht over the next six years under the novel power development plan (PDP), says Energy Permanent Secretary Prasert Sinsukprasert.
While renewable power is highlighted in the PDP, which covers from 2024 to 2037, investment in fossil fuel-fired power plants will also continue, albeit at a slower pace. Continued …
Thailand’s missed energy transition opportunity
I recently reviewed the draft Power Development Plan (PDP2024), outlining Thailand’s power development road map from 2024 to 2037. This draft, which was put for a public hearing process during June 12–19, left me disappointed.
The lower-than-expected economic growth, high energy surplus, fluctuating electricity costs due to gas price volatility, and a more ambitious net-zero target all signal a need to recalibrate our plans toward low carbon emissions. Continued …
EGAT to open bid for hydro-floating solar project
The Electricity Generating Authority of Thailand (EGAT) opened the selling of bidding documents for the development of a 140-megawatt (MW) unit 1 hydro-floating solar hybrid project in the Srinagarind Dam, with the bidding targeted to start on Aug. 14.
EGAT said the power generated from the combined solar and hydro facilities in Kanchanaburi Province will ensure the stability and reduce fluctuations of renewable energy, adding that this will support the country’s goal to achieve carbon neutrality by 2050 and net zero emissions by 2065. Continued …
Southeast Asian countries to bring 16 GW of pumped storage into operation
The installed capacity of pumped storage power plants (PSPPs) in Southeast Asian countries, including Thailand, Philippines, Indonesia and Vietnam, will rise from 2.3 gigawatts (GW) in 2023 to more than 18 GW in 2033, according to a forecast by Rystad Energy. The industry could attract up to $70 billion in investments during that period.
As a rule, pumped storage power plants are equipped with two water reservoirs with an elevation difference: in the conditions of low demand, cheaper electricity from the common grid is used to pump water from the lower reservoir into the upper one, from which it gets discharged into the lower reservoir in the hours of growing load on the grid, setting off water turbines. Continued …
How to make coal plants more profitable by switching to solar?
A recent report by the Institute for Energy Economics and Financial Analysis (IEEFA) found that more than 800 coal power plants in emerging markets can provide better returns to investors while slashing carbon emissions when replaced by renewable energy.
In the “Accelerating the Coal-to-Clean Transition” report, IEEFA found that it is economically viable to use large-scale renewable investment coupled with restructured power-purchase agreements (PPAs) to replace these coal assets through transactions that cover all costs associated with the transition to clean energy. Continued …
Protecting Asia’s coastal cities
Urban Asia is facing a perfect storm. Sea levels are rising, rainfall is becoming erratic – worsening problems that low-lying areas already face – yet more people than ever are also moving into cities to seek economic opportunities, leading to tensions and pressures.
As the world edges toward breaching the 1.5°C safety limit for global warming, the oceans and trade winds that once supported the growth of Asia’s coastal cities could soon bring havoc and suffering instead. Continued …
Thailand hosts 2024 ASEAN Recycling Metals Conference
Nearly 600 government officials, experts, and representatives of companies and associations from 24 countries and regions attended the 2024 ASEAN Recycling Metals International Conference in Bangkok from June 17-19 to share their views and actions on achieving high-quality development in recycling metals.
Hosted by the China Nonferrous Metals Industry Assn. (CNIA) and organized by the association’s recycling metal branch, along with other organizations, the conference went under the theme “Innovative Development Together, Sharing a Green Future”, covering various topics, including Thailand’s industrial development and investment environment, and exploring market opportunities in Southeast Asia. Continued …
Air pollution caused 8.1M deaths in 2021; children under 5 are vulnerable
Air pollution is having an increasing impact on human health, becoming the second leading global risk factor for death, according to the fifth edition of the State of Global Air (SoGA) report.
The report, released by the Health Effects Institute (HEI), an independent U.S.-based nonprofit research organization, found air pollution accounted for 8.1 million deaths globally in 2021. Beyond these deaths, many more millions of people are living with debilitating chronic diseases, putting tremendous strains on healthcare systems, economies, and societies. Continued …
Chinese automakers retain grip over Southeast Asia’s EV market
Electric vehicle (EV) sales are surging in Southeast Asia, led by China’s BYD (Build Your Dreams) and Vietnam’s VinFast, eating into the internal combustion engine car market dominated by Japanese and Korean firms, Counterpoint Research said on Friday.
EV sales in the region more than doubled in the January to March quarter from a year before, according to the research firm. Sales of ICE cars, meanwhile, slid by 7%. Continued …
Polestar Plans To Launch Electric Vehicles In Thailand
Polestar will see the launch of not one but two new battery-electric models this year. The Polestar 3 and 4 will give the brand some much-needed variety, after relying exclusively on sales of its electric sedan for the past couple of years.
The still-young brand is also eyeing rapid expansion. Polestar plans to launch sales in seven new markets in 2025 through local distribution partnerships, including in France, Brazil, Thailand, Czech Republic, Slovakia, Hungary, and Poland. Continued …
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