SD/PTT and Siam signed MoU to promote sustainable development

Editorial team

PTT and Siam Piwat join forces to lead business towards social and environmental sustainability goals

PTT, a national energy company that operates integrated energy and petrochemical businesses, with aiming to promote the development of future energy innovations for the good quality of life of Thai people, and Siam Piwat Group, a leading real estate and retail developer, led by Siam Piwat, owner and operator of Siam Paragon, Siam Center, Siam Discovery, and a joint venture partner of ICONSIAM and Siam Premium Outlets Bangkok, recently signed a memorandum of understanding (MoU) to promote sustainable development in Thailand.

This is the first time that the two leading organizations have joined forces in business towards the sustainable development goals. Mr Buranin Rattanasombat, chief new business and infrastructure officer, PTT Public Company Limited and Mrs. Mayuree Chaipromprasith, president– corporate affairs and communications at Siam Piwat Co., Ltd. jointly signed an agreement of collaboration covering 3 areas: 1) renewable energy management to achieve net zero emission goal through cooperation with ReAcc Co., Ltd., a PTT Group company, 2) waste management, and 3) development projects that promote future sustainability. The collaborative agreement reaffirms the vision and business goals towards sustainability and promotes the business sector in Thailand to operate in parallel with social and environmental considerations.

Mr Buranin said the collaboration with Siam Piwat will be a stepping stone for PTT to encourage business sectors in switching from present energy sources to renewable ones so that Thailand could attain net zero emission and increase potential for sustainable energy innovation on the world stage in the near future. This is in line with the vision of the organization to drive Thailand towards a low-carbon society and promote business operation to create truly sustainable growth.

The pilot project on renewable energy management to achieve net zero emission is at the Exploratorium, Siam Discovery - a shopping center of Siam Piwat Group – is going to be a prototype for running business operation under the sustainability concept by using electricity from 100% renewable energy through the purchase of renewable energy certificates (RECs) from ReAcc, a marketplace for clean energy and carbon neutrality for companies which endeavor to use renewable energy for electricity.

In addition to showing the intention of both organizations to strive for using environmentally-friendly energy, this collaboration will help reduce greenhouse gas emissions that cause global warming and supports producers of green energy power in Thailand to generate more revenues from renewable energy in terms of RECs.

Mrs. Mayuree said that Siam Piwat has fostered sustainable value in every process to create mutual growth for all sectors, including people, environment, and economy. Creating synergy from Siam Piwat's strength as a developer of shopping centers that are center of life and creativity, Siam Discovery, a shopping center which operates under co-creation concept, is utilized to pioneer the concept of focusing on environment by partnering with ReAcc, a company in the PTT Group which aims to create renewable energy innovations.

This will enable both companies to develop business models with sustainability concepts, help restore and pass on a livable planet to the next generation, bringing environmental conservation closer into people’s daily lives. In this regard, Siam Piwat has implemented several projects to elevate the environmental management and promote circular economy principles such as the "Siam Piwat 360° Waste Journey to Zero Waste" project to develop a waste management system throughout the whole chain, a collaboration with various alliances to opened Recycle Collection Center, Thailand’s first Drive-Thru waste drop-off point, at Siam Paragon.

Another highlight included value creation through collaborating with 12 eco-friendly creators and entrepreneurs to curate eco-friendly products under the brand "ECOTOPIA", which is a model store that serves eco-friendly lifestyle.

For the promotion of clean energy, ICONSIAM has installed the solar rooftop to utilize solar energy, which is a clean energy in place of electricity, while Siam Premium Outlets Bangkok is in the process of developing and installing solar rooftop in an area of more than 20,000 square meters as part of the organization's goal to reduce carbon emissions and contribute to the creation of a low carbon society for the world.

In addition, PTT and Siam Piwat plan to study the feasibility of expanding cooperation in the development of energy-saving building (Smart Building), installation of EV charging stations, and installation of solar panels.

Regarding waste management, Siam Piwat, the first company in the real estate and retail business that creates a role model to promote the principles of the circular economy towards a “zero waste organization” and the 360-degree waste management, has expanded its collaboration with companies in the PTT Group through PTT Global Chemical PCL (GC) for the 5th consecutive year in recycling waste plastics, such as water bottles, plastic boxes, plastic glasses, bottle caps, CD and plastic spoons and forks, to create the eco-friendly Christmas tree, which is being displayed during the Christmas and New Year season, between November 24th 2022 – January 8th 2023 at Discovery Plaza, Siam Discovery.

Moreover, Siam Piwat is also looking for a possible collaboration that will expand the current waste management into ONESIAM to create more tangible value in the future by using the ECOTOPIA store at Siam Discovery as a space to increase opportunities and connect young entrepreneurs with consumers, as part of its efforts to continuously promote sustainable environmental management.