PTT ready to move towards Net Zero

Bangkok, PTT is ready to drive business towards Net Zero according to Thailand's goal, supporting T-VER to meet international standards. Pointed out as key to helping achieve climate change goals Mr. Atthaphon Rerkpiboon, Chief Executive Officer and President of PTT Public Company Limited, participated in a discussion on the topic 'Thailand Net Zero Target: Readiness and Challenges' at the seminar 'Thailand Net Zero 2024 - Now or Never' by stating that the PTT Group has set a goal to reduce greenhouse gas emissions to net zero (Net Zero) by 2050, which is 15 years faster than the country's goal of 2065, considering that the group of large companies announced Net Zero Faster than the national average It is considered another direction that will help achieve the country's goals. PTT has implemented 3 main approaches (3P) or "3 R" which are: 1. "Accelerate and adjust" the production process (Pursuit of Lower Emissions), reducing greenhouse gas emissions in the process to the maximum through important projects such as carbon capture and storage (CCS) in the Gulf sea area. Thai and onshore areas in the eastern region under the PTT Group CCS Hub Model collaboration that mobilizes PTT Group's technology to jointly manage greenhouse gas emissions. Using carbon dioxide to its maximum benefit (Carbon Capture and Utilization: CCU) is further developed into products to reduce its release into the atmosphere. Energy use in natural gas separation plants Promoting the use of renewable energy in the production process Build a new natural gas separation plant to replace the old one. Currently, Natural Gas Separation Plant Unit 7 is being built when it is completed. Natural gas separation plant Unit 1 will be closed, with PTT aiming to reduce greenhouse gas use by 200,000 tons of carbon dioxide per year. 'Accelerating the transformation' into an environmentally friendly business (Portfolio Transformation) PTT has adjusted its vision over the past two years to Powering Life with Future Energy and Beyond, driving every life. With the power of the future, PTT announces its focus on renewable energy of 15,000 megawatts by 2030 and is ready to enter the EV Value Chain business. 'Accelerate the planting' of an additional 1 million rai of forest (Partnership with Nature and Society), increasing the amount of greenhouse gas absorption from the atmosphere through natural methods. PTT has experience in planting 2 million rai of forest, which can Absorb up to 2 million tons of carbon dioxide per year. PTT Group will accelerate the planting of an additional 2 million rai of forests by 2030. Mr. Atthaphon added that pushing for the Thailand Voluntary Emission Reduction Program (T-VER) to meet international standards is key. that will help achieve climate change goals To help with export matters as well. It is seen that pushing T-VER to happen must be a collaboration from all sectors, including the government, private sector, agencies, organizations, educational sector, and the public sector. Source: Thai News Agency