SET, the Stock Exchange of Thailand, has officially launched a new platform known as SET Carbon.
According to Finextra, this innovative tool comes in response to the growing demands for transparency in carbon footprint reporting from government agencies and investors.
The need for SET Carbon is driven by the urgent requirement for tools that assist in adhering to increasingly stringent environmental regulations. It also aims to facilitate access to green financing options. Currently, only 30 percent of Thai listed companies have achieved verified carbon footprint disclosure in 2024.
About SET, this esteemed financial institution operates at the heart of Thailand’s capital market, providing a comprehensive range of trading, listing, and information services. Its initiatives often emphasize sustainability and environmental responsibility.
The newly introduced SET Carbon platform offers businesses a reliable and cost-effective solution for comprehensive carbon footprint calculation and data management. It’s designed to streamline the process from data collection to processing, supporting the development of green financial products.
Additional features of SET Carbon include a memorandum of understanding (MOU) signed with the Department of Climate Change and Environment (DCCE) and the Export-Import Bank of Thailand (EXIM Bank). This collaboration aims to create an end-to-end data management ecosystem that reduces duplication in reporting and expands funding access for Thai businesses.
Further context is provided by the impending legislation, with Thailand’s Climate Change Act expected to introduce essential mechanisms such as the Climate Fund, Thailand Taxonomy, and Carbon Pricing schemes. These initiatives are crucial for supporting Thailand’s transition to a low-carbon economy and protecting national interests in the global climate change arena.
DCCE Director-General Phirun Saiyasitpanich said, “The platform’s alignment with Thailand’s upcoming Climate Change Act is crucial. It will help balance regulatory enforcement with supportive measures for Thailand’s transition to a low-carbon economy.”
EXIM Bank President Rak Vorrakitpokatorn commented, “As a green development bank, EXIM Bank is stepping up efforts to bridge Thailand’s climate finance gap. We are empowering businesses to accelerate their green transformation and adopt carbon footprint reporting based on international standards.”
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