Thamarat Paryoonsuk, Senior Executive Vice President, Refinery Business Group, Bangchak Corporation stated that as one of the leaders in energy transition, Bangchak is committed to pursuing its vision of "Crafting a Sustainable World with Evolving Greenovation" by balancing the Energy Trilemma to sufficiently procure, produce, and distribute petroleum and biofuels for the business sector, and the public. Furthermore, Bangchak is committed to developing and expanding its core businesses, as well as accelerating investments in green and sustainable businesses to prepare for future technological advancement and progress, and the challenges of climate change.
In 2022, Bangchak established Thailand's first and only company to produce Sustainable Aviation Fuel (SAF) from used cooking oil. This initiative is part of the BCP 316 NET plan, a clear and tangible roadmap aiming at achieving Net Zero GHG Emissions by 2050. Planning is also underway to convert Bangchak refinery into a biorefinery to produce biofuels, the energy source of the future, which would help reduce greenhouse gas emissions from the transportation sector. SAF not only adds value to used cooking oil, but also helps reduce carbon dioxide emissions from the aviation industry. This aligns with the global aviation industry trend, which aims to achieve FlyNetZero by 2050.
Additionally, Bangchak also has other initiatives in place in driving a low-carbon society. These include increasing the proportion of clean energy usage in selected service stations towards becoming net zero service stations, collaborating with business partners to install EV chargers that cover all regions in Thailand, expanding green power business, studying and investing in battery business, establishing "Winnonie", electric motorbike rental platform, and pioneering the establishment of Carbon Markets Club, the first of its kind in Thailand. This network promotes knowledge exchange on carbon credit management and serves as a platform for carbon credit trading within the country. The company also undertakes reforestation projects for nature-based carbon sequestration through collaboration with various organizations.
Bangchak firmly believes that the collaboration with Thai Airways in this instance will contribute to promoting the aviation industry both domestically and internationally. This partnership will enable access to sustainable aviation fuel, which plays a role in reducing greenhouse gas emissions from aircraft.
Taviroj Songkumpol, THAI Chief, Corporate Strategy, said Thai Airways, as the national carrier, operates as a full-service airline providing comprehensive passenger, cargo, and mail transportation services both domestically and internationally. With a network that covers over 30 countries worldwide, the airline has been in operation for more than 63 years. It focuses on conducting business to promote balanced development across economic, social, environmental, and governance dimensions.
Bangchak Corporation, as a leading greenovation group in Asia, invests in sustainable aviation fuel production facilities from used cooking oil, adding value to waste within the country and contributing to the reduction of carbon dioxide emissions in the aviation industry. The collaboration aims to promote the aviation industry both domestically and internationally by refueling aircraft with sustainable aviation fuel, ultimately achieving the goal of net-zero greenhouse gas emissions by the year 2050 within the industry. Currently, the aviation industry contributes approximately 2% of total greenhouse gas emissions, and it is expected to grow in the future, resulting in an unavoidable increase in GHG emissions.
Furthermore, this collaboration involves sharing of knowledge, experiences, and expertise between the two parties to conduct technical studies on enhancing the efficiency of Sustainable Aviation Fuel (SAF) usage aiming at achieving the Net Zero target, in line with the standards set by the International Civil Aviation Organization (ICAO) and the International Air Transport Association (IATA). It is hoped that this cooperation will lead to future collaborations which will help enhance business value while caring for the environment and society and promoting sustainable growth together.
Source: Bangchak Corporation