Siam Piwat certified 100% carbon neutral by TGO across its five shopping centers and two convention halls, reinforcing its leadership in sustainability

Siam Piwat Group, a leading real estate and retail developer in Thailand, has achieved carbon offset and carbon neutral certification from the Thailand Greenhouse Gas Management Organization (TGO) for 2024 for Scope 1 and 2 emissions, once again setting a new industry benchmark in sustainability. Demonstrating its commitment to social and environmental responsibility in its business operations, the latest certification extends to all five of the group’s shopping centers and its two convention and exhibition centers: Siam Paragon, Siam Center, Siam Discovery, ICONSIAM, ICS, Paragon Hall, and ICONSIAM Hall, as well as the Siam Piwat Tower, all of which are key destinations for creating world-class experiences and Thailand’s first group of shopping centers and convention halls to offset 100% of its operational carbon emissions.

The certification ceremony for the year 2024 was held on November 4 at the Conference Hall of the Thailand Institute of Justice (TIJ) on Chaeng Watthana Road, presided over by Ms. Patranant Thongprapan, Deputy Secretary-General to the Prime Minister for Political Affairs, who presented certificates to the certified organizations from across the country. Ms. Nareerat Santhayati, Executive Vice President for Sustainability and Investor Relations, Siam Piwat Co., Ltd., along with representatives from Siam Piwat Group, accepted the honor on behalf of the company.

By expanding its initiatives to ICONSIAM, ICS, and the ICONSIAM Hall, Siam Piwat has successfully achieved 100% carbon offsetting across its five shopping centers and two convention and exhibition halls. This portfolio-wide expansion was accomplished through a strategic partnership between Siam Piwat Group and Innopower Co., Ltd., a clean energy innovation company formed by three major partners: the Electricity Generating Authority of Thailand (EGAT), RATCH Group PLC., and Electricity Generating PLC. Siam Piwat offset its Scope 1 and 2 operational emissions for the year 2024 using carbon credits from Innopower, sourced from renewable energy projects certified under TGO’s Thailand Voluntary Emission Reduction Program (T-VER).

As a decarbonization partner, Innopower Co., Ltd. has been working with Siam Piwat to strategically offset its emissions through carbon credits. This partnership exemplifies how carbon credit trading can be used as a practical tool for corporate carbon management. With Innopower as the broker, the credits are sourced from domestic clean energy projects, which not only help reduce Thailand’s greenhouse gas emissions but also generate overall social co-benefits, such as through initiatives that promote the use of renewable energy and the development of clean technologies that enhance the quality of life in local communities. Therefore, Siam Piwat's environmental efforts are directly linked to grassroots economic development and support the sustainable growth of Thailand's low-carbon economy.

This certification reaffirms Siam Piwat’s unwavering commitment to a transition towards a low-carbon society, pursued not just with pledges but through consistent action that has yielded tangible results. This milestone aligns with the company’s long-term goals of achieving zero waste to landfills by 2040 and net-zero greenhouse gas emissions by 2050, reflecting the organization’s dedication to inspiring and collaborating with all sectors to drive sustainable change and create a positive impact on the country’s environment.