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Resilient and ready: Thai businesses don’t see climate action as a burden but a ‘competitive edge’
A new Climate Change Act expected to introduce mandatory emissions reporting and reshape the nation’s business landscape will further accelerate Thai companies’ push to decarbonise and stay globally competitive, says UOB Thailand sustainability chief Chow Wong Yuen.
Over 70 per cent of organisations are investing more than 10 per cent of their capital expenditure in low-carbon initiatives as digitalisation and automation take centre stage.
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Regulatory uncertainty and grid constraints to cope with intermittency, however, challenge the procurement of corporate power purchase agreements and renewables adoption.
The city-state will generate no more than 10 per cent of its energy from solar by 2050, and is exploring geothermal, biomethane and regional energy-sharing to decarbonise, Singapore's energy minister said. The country is also planning a "low-carbon" data centre park – its first since a moratorium on data centres ended in 2022.
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