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Siam Piwat joins hands with all sectors to achieve net-positive impact, aiming to use 100% renewable energy by 2030
BANGKOK, Oct. 3, 2023 /PRNewswire/ — Siam Piwat Group, Thailand's leading real estate and retail developer, the owner and operator of global destinations including Siam Paragon, Siam Center, Siam Discovery, ICONSIAM and Siam Premium Outlets Bangkok, aims to use 100% renewable energy at all properties under its management by 2030 in an attempt to achieve net-zero greenhouse gas emissions by 2050.
The move is part of its efforts to solidify its leadership in sustainable world-class destination development and become Thailand's first retail property developer to collaborate with the world's premier brands and organizations on sustainability in pursuit of the United Nations' sustainability goals. It plans to sign a MOU with world-class brands on sustainability by early 2024.
Siam Piwat has long been recognized by various world-class brands for centering its business on sustainable business concepts and practices. Guided by the vision to benefit society at large and elevate the quality of life for all Thais, we strive to utilize its business as a platform of opportunities, develop people's capabilities, and ensure that all parties involved grow and succeed alongside us.
Siam Piwat is committed to create an urban model for environmental revitalization and drive the adoption of renewable energy and 360o waste management. It has launched Siam Piwat 360° Waste Journey to Zero Waste project and set up a Recycle Collection Center in collaboration with various partners to collect and sort cleaned waste for recycling to be repurposed or upcycled for added value. Some upcycled products are available for sale in ECOTOPIA, Siam Discovery. It aims to reduce the amount of waste sent to landfills by 50% by 2030.
To lower greenhouse gas emissions and promote a low carbon society, it has switched to clean energy by installation of rooftop solar panels at ICONSIAM, which can produce over 1 million kWh annually and reduce greenhouse gas emissions by approximately 550 tCO2e per year. It also joined forces with Gunkul Engineering Public Company Limited to install a rooftop solar PV system covering an 20,000-square-meter area at Siam Premium Outlets Bangkok, generating over 4,800,000 kWh of electricity annually and reducing greenhouse gas emissions by approximately 4,300 tCO2e per year.
It is also collaborating with leading clean energy organizations, including SCG Cleanergy Co., Ltd., and B.Grimm Power Limited, to procure renewable energy (RE), with the goal of enabling every shopping center under Siam Piwat Group to transition towards renewable energy. It aims to increase the utilization of RE compared to the total electricity consumption across all areas under its direct management to 30% by 2026 and to 100% by 2030.
Siam Piwat strives to advance its business in a way that sustainably creates mutual benefits for all parties in the ecosystem. It aims to lead the charge in elevating Pathumwan – a district in the heart of Bangkok and home to various projects by Siam Piwat – into a smart ecosystem model.
