Thailand’s retail developer Siam Piwat Group has pledged to achieve net-zero greenhouse gas emissions by 2050, starting with a commitment to using 100% renewable energy by 2030.
Siam Piwat, the operator of Siam Paragon, Siam Center, and Siam Discovery, and a joint venture partner of IconSiam and Siam Premium Outlets Bangkok, says it wants to “lead the charge” in developing a smart ecosystem across its properties.
As part of its net-zero journey, the group will sign a memorandum of understanding with companies on sustainability by early next year as it works to reinforce its leadership in sustainable development.
Siam Piwat will develop partnerships with government bodies, universities, suppliers, local authorities, and tenants to connect its business to people, society, and the environment as it speeds up projects that will power the business with clean energy.
It expects this will push forward the Siam Piwat 360° Waste Journey to Zero Waste waste management program and help develop the Bangkok commercial district of Pathumwan into a smart eco-district.
Naratipe Ruttapradid, COO of Siam Piwat, said that the company wants to become Thailand’s first retail property developer to work with the world’s premier brands and organizations on sustainability in pursuit of the UN’s sustainability goals and meet new global standard of business practice.
Siam Piwat has included environmental management into its business operations, starting with energy conservation and energy efficiency enhancement. It has replaced lighting with LED bulbs, and it uses AI-powered environmental control systems within its buildings.
The firm has expanded the use of clean energy, as can be seen from the installation of rooftop solar panels at IconSiam which produce more than 1 million kWh annually and reduce greenhouse gas emissions by 550 tCO2e per year.
Siam Piwat also partnered with Gunkul Engineering to install a rooftop solar PV system covering more than 20,000sqm at Siam Premium Outlets Bangkok, generating more than 4.8 million kWh of electricity annually and lowering greenhouse gas emissions by about 4300 tCO2e per year.
Furthermore, Siam Piwat has installed electric vehicle charging stations to serve customers of its shopping centres.
The company is currently working with several leading clean energy organizations in Thailand, including SCG Cleanergy, a subsidiary of the Siam Cement, and B.Grimm Power to procure renewable energy, with the goal of enabling every shopping center under the Group to transition towards renewable energy and reduce the reliance on electricity generated from fossil fuels.
The goal is to increase the use of renewable energy compared to the total electricity consumption across all areas under Siam Piwat’s direct management to 30% by 2026 and to achieve 100% renewable energy in all areas by 2030.