SET President Asadej Kongsiri today announced the launch of SET Carbon that the platform has been developed in response to escalating demands for carbon footprint transparency from government agencies and investors.
With only 30 percent of Thai listed companies currently achieving verified carbon footprint disclosure in 2024, the platform addresses a critical market need for tools that enable compliance with increasingly stringent regulations, and also enhance access to green financing. SET Carbon offers businesses a cost-effective and reliable solution for comprehensive carbon footprint calculation and data management. SET also signed a memorandum of understanding (MOU) with the Department of Climate Change and Environment (DCCE) and Export-Import Bank of Thailand (EXIM Bank) to establish an end-to-end data management ecosystem through SET Carbon, from upstream data collection to downstream processing for green financial product development. The collaboration will reduce the duplication in reporting and expand funding access for Thai businesses.
DCCE Director-General Phirun Saiyasitpanich highlighted the platform's alignment with Thailand's upcoming Climate Change Act. Following the National Climate Change Policy Committee's approval of the draft legislation in December 2024, the Act is scheduled for cabinet consideration in January 2025. The legislation will introduce crucial mechanisms including the Climate Fund, Thailand Taxonomy, and Carbon Pricing schemes, designed to balance regulatory enforcement with supportive measures for Thailand's transition to a low-carbon economy, and also protect national interests within international trade frameworks amid global climate change efforts.
This collaboration between SET and DCCE through the MOU marks a step towards building robust infrastructure to facilitate and support the private sector’s reporting under the forthcoming legislation. The Emission Trading Scheme (ETS) will be integrated with the voluntary carbon credit program to drive success within the capital market, advance Thailand's greenhouse gas reduction goals and create sustainable economic opportunities for stakeholders.
EXIM BANK President Rak Vorrakitpokatorn reinforced the critical role of climate finance in fostering sustainable and balanced development across economic, social, and environmental dimensions, highlighting global demand for climate finance continues to surge. As a green development bank, EXIM Bank is intensifying efforts to bridge Thailand's climate finance gap by empowering businesses to accelerate their green transformation and adopt carbon footprint reporting based on international standards. This approach enhances transparency and credibility for projects targeting greenhouse gas reduction and sustainable development. To support businesses in managing their carbon footprint across value chains, EXIM Bank is offering preferential financing solutions, including working capital facilities at special interest rates starting from 1.99 percent per annum, with a three-year average rate of 4.99 percent per annum.
This tripartite partnership will establish a comprehensive sustainability data ecosystem and streamline sustainability reporting processes for Thai businesses with a more efficient disclosure. This database will be leveraged to create supporting mechanisms for Thai businesses in order to foster their sustainable growth and strengthen their global competitiveness.