PTTEP vowed to achieve three commitments at COP28

Editorial Staff

PTTEP vowed to achieve three commitments at COP28

PTT Exploration and Production Plc (PTTEP) committed to achieve three commitments in the United Nations Climate Change Conference (COP28) held in the United Arab Emirates.

The company made three commitments and engaged in discussions with energy companies, business leaders and philanthropists to explore concrete solutions for addressing global warming.

Mr. Montri Rawanchaikul, chief executive officer of PTT Exploration and Production Plc (PTTEP), revealed that PTTEP and global energy companies have pledged the Oil & Gas Decarbonization Charter, as part of the United Nations Climate Change Conference (COP28).

The conference is taking place in Dubai, the United Arab Emirates, from 30 November to 12 December 2023. This pivotal charter outlines three key objectives to support climate change mitigation; achieving net zero operations by 2050, aiming for near-zero upstream methane emissions by 2030 and zero routine flaring by 2030 (according to World Bank’s "Zero Routine Flaring by 2030" Initiative).

PTTEP also participated in the Business & Philanthropy Climate Forum along with more than 500 global business leaders and philanthropists to achieve substantial reductions in greenhouse gases. Additionally, PTTEP demonstrated its climate initiatives at Thailand Pavilion, organized by the Department of Climate Change and Environment. Aligned with PTTEP’s EP Net Zero 2050 concept to attain the goal of Net Zero Greenhouse Gas Emissions by 2050, these initiatives include Carbon Capture and Storage (CCS), methane management, Smart Forest Solution for green area management and the development of a carbon credit marketplace.

PTTEP’s executives also shared their visions and perspectives at side events hosted at the Thailand Pavilion, expressing ambitions to achieve net zero emissions. This involves highlighting Carbon Capture, Utilization and Storage (CCUS), as a significant approach against global warming, harnessing renewable energy in its operations, developing new forms of future energy such as hydrogen, acknowledging the conservation and restoration of biodiversity as a crucial role in tackling global warming and undertaking other activities to mitigate greenhouse gas emissions.