Date/Time 28 Nov 2023 14:17:00


SET News :SET commits to Net-zero emissions by 2050

Symbol SET
Source SET
SET News 105/2023 November 28, 2023 SET commits to Net-zero emissions by 2050 BANGKOK, November 28, 2023 - The Stock Exchange of Thailand (SET) has pledged to tackle climate change by announcing Net-zero commitments by 2050. The target has been set based on climate science in accordance with the Science Based Target initiative (SBTi) Net-Zero Standard. The intention of SET's commitment towards the long-term action plan is to take part in solving the intensifying climate crisis problems which impacts the economy, society, and environment. This implementation is in line with SET's strategic plan to continuously drive sustainability both internally and externally, as well as supporting the efforts to limit global temperature rise below 1.5 degrees Celsius according to the Paris Agreement. SET President Pakorn Peetathawatchai said that the climate crisis is one of the most urgent missions that require collective actions from all sectors to seriously solve the problems. With a role to play in promoting the capital market to grow sustainably with benefits to all sectors, SET has driven operations across the organization's working process to be part of the solution. "Setting the Net-zero target reinforces SET's firm intention and determination to participate in solving the climate crisis, leading to efficient and tangible action plan. SET has established the target to achieve Net-zero by the year 2050 according to the (SBTi) Net-Zero Standard which is globally accepted and utilized. This target covers Scope 1: direct greenhouse gas emissions from the organization's activities, Scope 2: indirect greenhouse gas emissions from energy purchased and consumed, and Scope 3: indirect greenhouse gas emissions from the organization's value chain. SET has consequently charted the path to achieve the target, such as internal management, and cooperation from the value chain stakeholders in reducing greenhouse gas emissions to ultimately drive the organizations towards low carbon businesses," added Pakorn. SET has taken numerous steps to reduce greenhouse gas emissions in the organization by improving energy efficiency in the SET building until internationally certified as a LEED Platinum: Operation and Maintenance (O+M) building, the highest level of environmental certification from U.S. Green Building Council (USGBC). Moreover, Green Procurement has been adopted as an alternative in the procurement of products and services, as well as minimizing paper use by delivering rights documents or various reports to shareholders using securities registrar services in electronic format (e-Document) instead of sending by post. These actions have reflected that SET has emphasized the importance of operating with social and environmental responsibility in a sustainable manner. Moreover, SET has prioritized promoting knowledge and understanding of ESG topics to listed companies and other stakeholders in the capital market. Simultaneously, all relevant stakeholders have been encouraged to truly integrate the principles into their operations to be adaptable to a low-carbon society. SET has been continuously promoting knowledge in all relevant areas, such as climate risk analysis and management, greenhouse gas emissions calculations, and greenhouse gas emissions reduction management. About the Science Based Targets initiative The Science Based Target initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emission before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies' targets. "SET...Make it Work for Everyone" Follow us on Twitter @SET_Thailand_EN ______________________________________________________________________