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Category: Circular Economy

  • Thailand’s Sustainable Future: The Significance of Renewable Energy

    Thailand’s Sustainable Future: The Significance of Renewable Energy

    Thailand’s road to sustainability requires a robust strategy to reach its goal by 2030 and plan for a greener future ahead. The use of renewable energy hence is crucial in lowering carbon emissions, strengthing energy security, and ensuring a smooth transition to a circular economy with greener alternatives. The Thai government has a solid framework called the Power Development Plan (PDP) scheduled to be implemented for the period 2024 to 2037. According to this plan, the ideal target set covers that 30% of the total power generated in Thailand must be renewable energy by 2030. A swift adherence to this framework and target could guarantee better results for Thailand’s ambitious goal of reaching carbon neutrality by 2050 and a net-zero target by 2065.

    Making the Switch to Renewable Energy

    The main renewable energy sources that are now under development include hydropower, biomass, solar, and wind. Thailand’s abundant solar resources position it as a nation with significant potential for solar energy development and the government has incentivized the use of solar power through tax incentives and financial support of projects. For example, the Electricity Generating Authority of Thailand (Egat), is initiating 15 floating solar farm projects that hold a capacity of 2,750MW, as reported by Bangkok Post.

    Thailand’s geography is abundant with alternative resources for energy production, albeit at a lower capacity. Wind power projects are possible in coastal and highland regions and small and micro-hydropower system projects are possible at rural locations too. Besides this, as the majority of Thai people are employed in the agriculture sector, biomass and biogas are the most popular alternative energy as they provide a clean energy source and a sustainable method of managing agricultural waste but by 2037, it is estimated that more than 30% of the alternative energy in Thailand will be dominated by solar energy.

    Thailand’s shift to renewable energy will result in

    1. Expand job market opportunities
    2. Create a positive environmental impact
    3. Social Development

  • Understanding the importance of circular economy in Thailand

    Understanding the importance of circular economy in Thailand

    The “Take-Make-Waste” system normally endorsed by Thailand’s linear economy has been reprimanded recently due to its role in promoting climatic hazards. Under this production process, resources that are not utilized during the manufacturing period are discarded as waste and even after the product is manufactured, waste is produced from the packaging and eventually, the end of a product’s usable life signals its call to further become a waste.

    The Take-Make-Waste model has shown to be unsustainable as it has been exacerbating environmental and climate issues in today’s expanding economy of over-consumption where high waste generation and depletion of natural resources have significantly been contributing to climate change, and accelerating the scarcity of resources.

    The Circular Economy: A sustainable Solution

    The concept of Circular Economy is termed the “take-use-return” model and it is uniquely designed to lower production costs, increase market competitiveness and thus profitability while substantially reducing emissions. This relatively new economic model is designed to maintain the regeneration of the natural environment while using resources and simultaneously reducing pollution.

    The importance of a circular economy lies beyond its environmental benefits; it directs a future full of innovative opportunities that can boost profits for businesses. In Thailand, industries have taken an ambitious goal of integrating a circular economy as part of their reformative approach to a better viable economy. Reports by Thailand Investment Review have illustrated that the quantity of industrial waste being recycled was extremely low in Thailand. Their 2018 report highlighted that Thailand was able to recycle only a third of its total waste of 22 million tons that was produced.

    While the economic growth in Thailand has been sought after by the population and the government, the unmanaged growth has somewhat victimized the environment to face the repercussions. A report by Thailand Investment Review illustrated that high economic growth has been directly related to both high waste production and waste management gaps. In fact, in 2018, Thailand produced 27 million tons of household waste out of which only 25% of the total plastic waste was recycled by the government, highlighting the urgent need for action by the government.

    Thailand’s Circular Economy Initiatives 2024

    Currently, the initiatives related to CE are mainly handled by private and public sectors through voluntary engagement. While the government of Thailand has shown growing interest and dedication to sustainability development more policies are needed to bring these dynamic changes. One of the longest commitments is to the Sufficiency Economy Philosophy (SEP) introduced by the late King Bhumi which acts as the baseline for Thailand’s goal towards sustainability. The SEP covers three areas of moderation, reasonableness, and prudence to boost Thailand’s goal of achieving the 2030 Agenda for Sustainable Development and the 20-year National Strategy Framework and 5-year National Economic and Development Plan.

    The Thai government’s current stance on adopting CE is accelerated through its Bio-Circular-Green (BCG) economic model under which these initiatives are included:
    1. Plastic Waste Management: Thailand is one of the biggest markets for plastic usage with an estimated amount of 2 million tons of plastic waste generated per year. The government is encouraging the use of biodegradable plastics and the promotion of recycling under the Extended Producer Responsibility (EPR) framework.

    2. Food Waste Reduction: The Thai government is promoting food waste management through better practices, and awareness campaigns.

    3. Legislation and Policies: The Thai government is creating a legal framework to promote a circular economy like promoting green procurement and establishing certifications and proper standards for circular products.