Global Compact Thailand plans to launch 998 sustainability projects by 2030
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Bangkok, Thailand
The following is an article submitted by a Global Compact Local Network. Please contact the network representative listed below with any questions regarding its contents.
New partnership between the Government and companies to help achieve the SDGs
Thailand, 2 October 2020 — At the Global Compact Network Thailand Forum 2020: Thailand Business Leadership for the SDGs, the Prime Minister of Thailand, H.E. General Prayut Chan-o-cha, United Nations Resident Coordinator, Gita Sabharwall, and the UN Global Compact Network Thailand launched a commitment for government and businesses to invest THB 1.2 trillion (US$ 38 billion) in 998 sustainability projects in the decade leading to 2030.
The Prime Minister said the time is right for the country’s industries to commit completely to the Sustainable Development Goals. He cited the COVID-19 crisis as an opportunity to promote sustainability across industries, including “Sufficiency Economy Philosophy,” “Human Development” and “Human Security.”
Ms. Gita Sabharwal, United Nations Resident Coordinator in Thailand, hailed the agreement as an opportunity for business to play a pivotal role in establishing sustainability in Thailand. “The private sector has the potential to play a central role in making the SDGs a reality in Thailand,” she said. The UN offered three areas for reflection for successful private-public partnerships. First, forging robust partnerships with a shared responsibility for advancing the SDGs; second, building back better for a greener and a more equitable new normal; and third, ensuring no one is left behind.
Suphachai Chearavanont, President of Global Compact Network Thailand, called on all sectors to invest in sustainable development in the “Decade of Action” to help grow the Thai economy.
Mr. Aloke Lohia, Group CEO of Indorama Ventures, added, “The UN SDGs and Sufficiency Economy Principles are one of our key strategies. It is a balance between efficiency and resiliency – to do business with a focus on long-term value creation rather than short-term gains. IVL has operated our sustainable business through a circular economy concept, including recycling to reduce plastic waste and converting it to create value. We also set targets to recycle 750,000 tons of post-consumer PET by 2025 and we’re committed to investing US$1 billion.”