Bangchak Joins Carbon Credit from Community Forests for Sustainability Project Initiated by the Mae Fah Luang Foundation Under Royal Patronage

Gloyta Nathalang, Executive Vice President, Corporate Branding, Communication and Sustainability Activation, Bangchak Corporation Public Company Limited, joined the panel discussion on private sector’s policy on environment and sustainable development during the declaration of the intent to conserve natural resources by the networking partners of the Carbon Credit from Community Forests for Sustainability Project by the Mae Fah Luang Foundation Under Royal Patronage at C ASEAN, 10th floor, CW Tower.

Bangchak is one of the partners in Mae Fah Luang Foundation’s Carbon Credits from Community Forests for Sustainability Project which helps protect forests, prevent forest fires, prevent encroachment, preserve biodiversity, generate income through forest carbon credit and promote sustainable human co-existence with the forest. This initiative is part of with Bangchak Group’s BCP316 NET plan towards achieving Carbon Neutrality by 2030 and Net Zero GHG Emissions by 2050. The plan covers four dimensions; namely B = Breakthrough Performance (30%) emphasizing highly efficient production processes, improving and enhancing operational efficiency, reducing carbon emissions, and being environmentally friendly, C = Conserving Nature and Society (10%) the creation of an environmentally balanced system and paving the way for a low-carbon society, P = Proactive Business Growth and Transition (60%) transitioning business towards clean energy through sustainable technology, increasing green business portfolio, expanding investments that help to reduce greenhouse gas emissions from business operations, and NET Zero Ecosystem fostering the creation of an ecosystem to realize the Net Zero target such as establishing Carbon Markets Club (CMC) to promote carbon credit trading.

Gloyta, as CMC Chairperson, shared her perspective on Bangchak’s role in driving the carbon credit market through CMC and the 11 Founding Member organizations that established the club in June 2021. CMC has been engaged in activities to raise awareness and promote understanding of climate change and support carbon credit trading. There are currently more than 430 members, including organizations and individuals, and over 1 million tons of carbon dioxide equivalent carbon credits and Renewable Energy Certificates have been traded through its Marketplace.

Moreover, Bangchak will collaborate with Mae Fah Luang Foundation and its partners to develop the carbon credit from perennial crops project. This project will involve members of over 600 agricultural cooperatives within the nationwide Bangchak Cooperative service station network, as part of the execution of the BCP316 NET plan.