Mr. Asadej Kongsiri, Chairman of the Stock Exchange of Thailand (SET), revealed that SET has developed the SET Carbon system as a tool for managing data and calculating the carbon footprint of business organizations efficiently. Furthermore, it will help them reduce costs and enhance credibility.
Currently, there is a growing demand for carbon footprint data from both the government and investors. In 2024, approximately 30% of Thai listed companies have fully disclosed their carbon footprint data. Meanwhile, many other companies are seeking tools to help generate reports that comply with increasingly stringent regulations and enhance their opportunities to access green loans.
In addition, SET has signed a memorandum of understanding (MOU) with the Department of Climate Change and Environment and the Export-Import Bank of Thailand to drive the management of data through SET Carbon, from the initial data collection to the final stage of utilizing the data to develop green loan products. This initiative will benefit Thai companies by reducing complex reporting processes and increasing opportunities for Thai businesses to access more sources of capital.
Regarding the secondary carbon credit market, SET has been studying the issue for some time and is currently evaluating the most suitable platform. They are in discussions with international experts on relevant technologies and are monitoring market conditions. Another key factor for further stimulation is the enactment of the Climate Change Act. Once this law is passed, each company’s carbon footprint will be measured to establish a standard, and they will be required to reduce their carbon footprint to a certain level. That level will create both supply and demand in the market.
SET is currently designing the platform step by step. It is anticipated that a certain level of the platform will be completed within 2025, with investments being made as needed at the appropriate time.
