Bangchak Group Holds 12th Annual Seminar “Energy Security and Carbon Sequestration” – Energy in Harmony with Nature.

Bangchak Group organized its 12^th Annual Seminar, entitled “Energy Security and Carbon Sequestration”, with international and national experts sharing knowledge and experience on energy transition for a sustainable world.

Dr. Porametee Vimolsiri, Chairman, Bank of Thailand, gave the keynote address on “Sustainable Finance Taxonomy” followed by Chaiwat Kovavisarach, Group Chief Executive Officer and President, Bangchak Corporation Public Company Limited with a special talk on “Energy Security and Carbon Sequestration” which stressed how the world would continue to depend on fossil fuels for a certain period as the transition towards clean energy takes time.

However, with carbon sequestration and climate technologies, fossil fuels can bring balance to the world’s energy transition. This year’s Bangchak Group Annual Seminar reflects the importance of securing energy security that has become a global challenge. As global energy demands continue to grow, supply of primary materials will be critical in the decades to come. With the world heading towards Net Zero target, carbon sequestration, nature-based and science-based, is therefore required to create a sustainable world.

Another crucial factor that will help expedite the energy transition is financial taxonomy, which is a classification system, establishing a list of environmentally sustainable economic activities. This would play an important role in helping scale up sustainable investment by providing appropriate definitions for which economic activities can be considered environmentally sustainable, hence help shift investments where they are most needed for energy transition. Monetary policy, such as carbon tax, as well as carbon credit trading, will enable allocation of resources from businesses which are heavy carbon emitters to support development of clean energy.

Bangchak Group prioritizes the balancing of the Energy Trilemma, specifically, Energy Security, Energy Affordability, and Environmental Sustainability to strike a balance between extracting energy from the world, which affects carbon dioxide emissions into the atmosphere, and environmental conservation and sustainability. Bangchak aims to achieve its targets of Net Zero target by 2050, and Carbon Neutrality by 2030 through the group’s BCP 316 Net plan.

The seminar also featured experts who shared global trends and developments, including “Global Energy Outlook and Energy Transition” from Mr. Roberto Bocca, Head of Platform for Shaping the Future of Energy, Materials and Infrastructure, World Economic Forum, “Gold Hydrogen: Key to Net Zero Economy” from Mr. Moji Karimi, Co-Founder and CEO, Cemvita Factory Inc., a US-based startup, “Advancing a Lower Carbon Future with Carbon Capture, Utilization and Storage (CCUS)” from Mr. Robert Dobrik, Chief Executive Officer, Star Petroleum Refining Co., Ltd., “Innovating CO2 Recovery Technology” from Mr. Aniruddha Sharma, Co-Founder and CEO, Carbon Clean Solutions Limited, a UK-based startup, and “Nature-Based Solutions” from a Shell executive, Ms. Flora Ji Qing, Global Vice President, Nature-Based Solutions.

Bangchak Corporation Plc. has held its Annual Seminar since 2011, to raise public awareness on social and environmental issues such as waste management, drought, water management, innovation, climate change, etc. For more information visit www.bangchak.co.th and watch past events on Facebook: Bangchak