Kanthamat stated that as a leader in energy transition, Bangchak Group has set targets to achieve Carbon Neutrality by 2030 and Net Zero GHG Emissions by 2050. These targets will be attainable through our adoption of the BCP 316 NET plan which emphasizes tangible and long-term results by adopting sustainable technology, increasing the proportion of green businesses, and expanding new investments that would help reduce greenhouse gas emissions from business operations. At the same time, carbon sequestration, both by technology and by nature will also play an important role in the realization of Bangchak's carbon targets, as it transitions to a low-carbon business.
While transitioning to a new ecosystem, we still need to use fossil fuels. Carbon Capture technology is critical to capturing carbon dioxide that would otherwise be released into the atmosphere, thereby mitigating the effects of climate change. Meanwhile, the captured carbon can be processed and produced into other products. This is a technology solution for decarbonization, which will facilitate the transition to a low-carbon business.
"The collaborative efforts between Bangchak, AIT and C-Quester will enable comprehensive exploration and study of carbon capture technologies, while also capitalizing on potential business prospects for all involved parties. This will significantly contribute to Bangchak's capacity to mitigate carbon dioxide emissions and effectively accomplish our objectives in combatting climate change" Kanthamat concluded.
Source: Bangchak Corporation