Net Zero with Integrity on 25 March 2024 at Pacific City Club

Net Zero with Integrity
Monday 25 March 2024 6pm – 9pm
Pacific City Club

 

The Thai-Finnish Chamber of Commerce (TFCC) and Joint Foreign Chambers of Commerce in Thailand (JFCCT) held the seminar on the  "Net Zero with Integrity" on Monday 25 March 2024 6pm – 9pm at Pacific City Club. The event was supported by the Government of Finland and the Finnish Embassy.

 

Speakers Bio here

Agenda

Host welcome Mr Antti Aromaki President, Thai-Finnish Chamber of Commerce (Talk)

Mr. Ville Tavio Minister for Foreign Trade and Development: Finland’s climate journey and opportunities for engagement.

Moderator Mr Bob Fox JFCCT Head of Climate, provides background and explains the engagement (Introduction and Background)

Mr Thachatat Kuvarakul, principal advisor and head, project management unit. The Creagy – Thailand’s engagement on Climate, and journey to Net Zero ; (presentation) discussed Thailand’s engagement on climate and the journey to Net Zero, including the Climate Change draft law.

Dr Wanwipa Siriwatwechakul;  Deal Partner, Vectors Capital on investments with a climate purpose. (presentation)

Mr Petri Paukkunen, Area President, Asia Pacific Valmet Co .Real and effective CO2 emissions reduction (presentation)

Mr. Natthaphong, Tantichattanon  KPMG – measurement, accounting and standards towards building investor confidence (presentation)

Moderated Session with Q&A, Pigeonhole

Interaction and networking 8pm – 9pm

There is a race to Net Zero.

Ultimately the world needs to get to a Net Zero state. Consistency in measuring and reporting are needed where Greenwashing practices are shunned and proscribed. Two ways to achieve the main objective :

  • Organic actions – reduce emissions, reduce waste/unnecessary consumption, circular economy actions, implement carbon reduction-based targets, measure based on standars, digitalise.

  • Through offsets, carbon trading (up to the carbon neutral point). For Net Zero targets, CCS and Sequestration may be used if the removal is permanent but otherwise Net Zero targets probably do not support offsets.

The investment community is an important driver of meeting targets, and reporting on them.

Consider:

“In allocation of investments:

  • Investee A has taken organic steps to reducing GHG/CO2 and may do some carbon trading’

  • Investee B relies entirely or almost entirely on carbon trading / offsets

Investee A will be more attractive to us.”

The event was opened by host Thai-Finnish Chamber through its president, Mr Antti Aromaki, and the Finnish Minister for Trade and Development gave the keynote.

Mr. Bob Fox, Head of Climate group, JFCCT and Chair of the Digital Economy/ICT, curated and moderated the event (with some questions via Pigeonhole), providing an overview of the concept of ‘Net Zero with Integrity’ and its bases and necessity.

The event provided a cogent message about the need for integrity in the journey to Net Zero (which all speakers agreed was possible, with focus and intelligent effort), of achieving consensus on standards for measurement and reporting.

Photo L to R: Antti Aromaki (TFCC), Bob Fox (JFCCT), Minister Tavio (Finland), Khun Thachatat (The Creagy) Dr Wanwipa (Vectors Capital), K. Natthaphong (KPMG), Petri (Valmet Co)

Resources:

Climate Compendium (continually updated) HERE

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