Bangchak featured the concept and examples of "BCP 316 NET" such as the establishment of Carbon Markets Club along with many organizations to reduce greenhouse gas emissions from business operations through carbon credit trading, "Winnonie" Thailand's pioneering startup providing a platform for e-motorbike rental services and battery swapping network, the "Sea Grass" or "Blue Carbon" study for its marine carbon capture and storage capacity, the plan to produce of Sustainable Aviation Fuel (SAF) from used cooking oil, the promotion of sustainable fuel consumption, and compiling recommendations on climate action from TCAC participants organized by the Ministry of Natural Resources and Environment at the Royal Paragon Hall.
About Bangchak
Bangchak Corporation Public Company Limited, the Energy Transition Leader, operates 5 main businesses, namely 1) Refinery Business Group is a modern Complex Refinery and is a Niche Product Refinery to produce low emission products 2) Marketing Business Group has a network of over 1,200 service stations, completed by various non-oil business such as Inthanin Coffee, Furio lubricants, and EV Chargers 3) Green Power Business from the renewable energy businesses operated by BCPG, and entering the battery business for large energy storage 4) Bio-Based Product Business, operated by BBGI, the largest producer and retailer of biofuels in Thailand and expanding bio-based High Value Products (HVP) 5) Natural Resources and New Business, investing in petroleum exploration and production through investments in OKEA ASA, Norway which is renowned for its environmental policies and Bangchak Initiative and Innovation Center (BiiC) a Corporate Venture Capital investor focused on new businesses domestically and internationally, as well as building green innovation ecosystem promoting green energy and bio-based innovation.
Additionally, it has established the Carbon Markets Club to promote carbon credit trading supporting the Energy Transition and setting a network for future bio-based technology, the Syn Bio Consortium.
Bangchak was assessed by S&P Global, the assessor of the Dow Jones Sustainability Indices (DJSI) and awarded the S&P Global Sustainability Award 2022 - Silver Class, and received the MSCI ESG Rating of AA, which is the highest for the Energy Sector in Thailand, and has consecutively received the recognition since 2018. It targets Carbon Neutrality by 2030, and Net Zero GHG Emission by 2050.
Source: Bangchak Corporation
