securities company Kiatnakin Phatra Public Company Limited organizes a big seminar The Year Ahead 2022 about important trends of the year. which this year’s event Organized under the concept of Year of CHANGE, in Year of CHANCES by Dr. Somkiat Tangkitvanich Chairman of the Thailand Development Research Institute and Dr. Phiphat Leungnarumitchai chief economist Kiatnakin Phatra Financial Group Join the discussion on the urgent impact of COP26 to reduce carbon emissions on the competitiveness of Thai manufacturing and business sectors in the topic ‘Climate Change: Challenges and Opportunities’. Opportunities) The Year Ahead is an annual flagship seminar for Wealth Management clients of Kiatnakin Phatra Securities. to provide important information that affects the investment economy The event was held online on January 18th.
Due to Thailand’s commitment to the world community Under the framework of COP26 Convention to reduce net carbon dioxide emissions to zero by 2050, Dr. Somkiat Tangkitvanich see that Thailand needs to start adjusting to accept the commitment to reduce emissions to Net Zero (Net Zero) as soon as possible Particularly, the sectors that emit large amounts of carbon dioxide include agriculture, manufacturing (such as building materials), transportation (especially the automobile industry), and electricity generation. This adaptation will create challenges, risks and opportunities. but if not adjusting or moving too slow It will be affected by the change in consumer behavior that pays more attention to this issue. or regulations that different countries will apply This will affect the competitiveness of the country.
“If Thailand doesn’t do anything to the automotive industry or do it too late. what will happen is There will be electric cars from China coming in. Because previously there was a free trade agreement between ASEAN and China. No electric cars Therefore, Thailand has not set a reservation. Electric cars are therefore considered other types of cars. Which the import tax in Thailand is 0% today, what is known as the juncture of the automotive and parts industry in Thailand is that we will transition to electric cars, hybrid cars, plug-in hybrid cars. and battery cars Got it on time? If the time is not right or go too fast The parts manufacturing industry was unable to adjust. but if too late Thailand may miss out on the opportunity to become the automobile manufacturing hub of ASEAN,” said Dr. Somkiat.
Dr. Somkiat added that Agro-industry and food production are also industries that have to adapt to more food alternatives. As agriculture is a 17% carbon emitting activity, carbon emissions of beef produces up to 4.3 gigatonnes of greenhouse gas/year, 30 times more than tofu production. Thailand is a food-exporting country, so it needs to be refocused. Adaptation in food production processes to reduce carbon emissions And alternative proteins are one approach. Because from now on, the importers in the west who are the mainstays in this policy will raise the carbon footprint issue into consideration.
In addition, for Thailand, which is looking for an opportunity to be a Cloud Server or Data Center to attract IT businesses to invest Still need to focus on the origin of electric power. and clean energy issues along with Because the world’s tech giants have pledged to use 100% renewable energy, if they want companies like Amazon Web Service and Microsoft Azure to invest, Thailand must have a clean energy source for these companies.
“The transformation of the industrial structure to Net Zero will happen all over the world if we do something like if we want to be a food exporter. but not adapting to reducing carbon In the end, it will not be able to make a living. because of being pressured by many consumers If you don’t do it or adjust slowly, you will definitely run out of business opportunities, starting with food, cars and building materials. Ultimately, it is related to all economic activities,” Dr. Somkiat concluded, referring to both risks and opportunities for the Thai economy.
