06 Jan 2021
BANGKOK - 6 JANUARY 2021
Frasers Property (Thailand) Public Company Limited or “FPT”, the first company with a fully integrated real estate platform in Thailand, announces its participation in the ‘Carbon Pricing’ project arranged by Thailand Greenhouse Gas Management Organsation (Public Organization) (“TGO”) and the World Bank. To promote internal carbon pricing (ICP) initiatives and set a norm in the industry, Frasers Property Thailand along with other five leading companies operating in the Eastern Economic Corridor have joined forces to lead the industry in transitioning to a low-carbon economy. Internal carbon pricing is an effective carbon management strategy for businesses by placing monetary value to its carbon footprint, making them more conscious in their investment decision.
Frasers Property Thailand is committed to Frasers Property’s vision to grow the company sustainably and create a value proposition by taking part in environmental, social and governance (ESG) development. In 2020, the Company is the only real estate developer in Thailand that initiated a renewable energy project and green innovations for establishing the internal carbon pricing strategy and planning the greenhouse gas (GHG) mitigation investments. Frasers Property Thailand has been with TGO, the World Bank and Carbon Trust1 to design and develop an internal carbon pricing scheme. It is set to be implemented at its industrial properties to boost energy efficiency through Climate Risk Assessment, GHG Reduction Targets, and Climate Strategy. This will gear the company’s contribution towards sustainable development while capturing opportunity to access green finance.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer, Frasers Property Thailand, said: “As we grow our integrated real estate businesses over ‘One Platform’, we also embrace Frasers Property’s sustainability principles and seek to integrate ESG throughout our entire value chain. The achievement of Frasers Property Industrial (Thailand) for the ICP project enables the company’s inclusion in this ‘Carbon Pricing’ project. We are pleased to be a part of the nation’s GHG reduction mission along with TGO, the World Bank, and other five leading companies in Thailand.
The ICP approach assists us in developing a stronger sustainability strategy and environmental action plans. We will continue our GHG reduction plan and operate our business with responsibilities in every aspect. I would like to take this opportunity to thank everyone who supports the ICP project and contributes to its successful implementation."
Mr. Kiatchai Maitreewong, Executive Director, Thailand Greenhouse Gas Management Organization, said: “The industrial sector plays an important part in driving GHG emission. TGO, the World Bank and Frasers Property Thailand will jointly collaborate on this pilot project to set ICP as a norm in Thailand. This project will motivate organizations to adopt the ICP scheme which will help reduce GHG emission effectively, supporting the private sector's sustainable growth and Thailand’s low carbon society vision.”