Key Points
- SET has earned the respected validation by the Science Based Targets initiative (SBTi) for its 2050 net-zero targets, positioning itself among four leading stock exchanges worldwide in achieving the SBTi validation for both near-term and long-term goals.
- Focusing on reducing the energy and electricity consumption within the organization and collaborating with suppliers to develop joint decarbonization plan.
SET President Asadej Kongsiri unveiled today that The Stock Exchange of Thailand (SET) has achieved a significant milestone in its effort to combat the global warming crisis. Through its sustained efforts to reduce greenhouse gas (GHG) emissions, SET has obtained validation for its net-zero targets from the Science Based Targets initiative (SBTi), an internationally recognized authority on science-based target setting. With this distinction, SET becomes the fourth stock exchange worldwide to secure SBTi validation for both near-term and long-term net-zero targets, standing alongside Bursa Malaysia, Nasdaq and Deutsche Boerse Group. The validated targets include a 42 percent reduction in GHG emissions by 2030 and a 90 percent reduction by 2050.
“Our net-zero target approval by the SBTi reflects our firm commitment to taking concrete environmental actions and aligns with our 2025-2027 strategic plan. This endorsement enhances confidence that SET’s emissions reduction plans will effectively meet our net-zero goals in accordance with international standards and the Paris Agreement, which aims to limit global temperature rise to no more than 1.5°C,” said Asadej
The SBTi-validated targets cover all three scopes: 1) Direct emissions from SET’s own operations, 2) Indirect emissions from energy consumption, and 3) Other indirect emissions across its value chain. To achieve these targets, SET has developed a comprehensive action plan which includes increasing the use of electric vehicles for transportation, improving energy efficiency in buildings, implementing green procurement policies – such as collaborating with suppliers to reduce emissions – and continuously developing innovative products and services that promote investments in environmentally sustainable businesses.
The SBTi is a collaboration between Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting and independently assesses companies’ targets. It supports businesses worldwide in setting GHG emissions reduction targets to decarbonize at the pace and scale required to align with the goals of the Paris Agreement and keep 1.5°C in reach, aiming to halve global emissions by 2030 and achieve net-zero emissions by 2050. Currently, over 7,000 companies and financial institutions are setting science-based targets. For more information, visit www.sciencebasedtargets.org
