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On March 20, 2023, CEO and senior executives of the PTT Group signed MOUs for the “Two-million-rai Reforestation Project of the PTT Group” with the Royal Forest Department, the Department of National Parks, Wildlife and Plant Conservation, and the Department of Marine and Coastal Resources. Mr. Jatuporn Buruspat, Permanent Secretary for Natural Resources and Environment, presided over the signing ceremony at PTT Headquarters. There were a total of three MOUs: the Forest Ecosystem Development and Conservation project with the Royal Forest Department, the Forestation and Forest-ecosystem Conservation project with the Department of National Parks, Wildlife and Plant Conservation, and the Mangrove Forestation and Mangrove-forest Conservation for Carbon Credit project with the Department of Marine and Coastal Resources.
The MOUs represent public-private partnerships both in theory and practice. Under the MOUs, the PTT Group companies and agencies will collaborate on many fronts including research support, sharing of academic information, forestation and the rehabilitation of old forests, conserved forests, forest reserves, national parks, wildlife sanctuaries, community forests, and mangrove forests over two million rai of land for use as carbon sink. The MOUs will also engage communities in the conservation of natural resources, wildlife, and biodiversity. Moreover, the MOUs will promote greenhouse-gas emission reduction in pursuit of Thailand’s goal to become carbon-neutral by 2050 and achieve net zero emissions by 2065.
The PTT Group’s two-million-rai forestation goal is part of its “Adjust, Change, and Plant (Trees)” strategy, which focuses on conducting business in accordance with sustainable development guidelines. PTT will be responsible for one million rai while other members of the PTT Group will take charge of the other one million rai. The goal is expected to be reached by 2030 for the purposes of controlling, reducing, and capturing greenhouse gases. In the future, the two million rai of forestland will help absorb 4.15 million tons of carbon dioxide equivalent. Furthermore, PTT will promote awareness of and participation in forestation/ environmental care via “PTT Net Zero” application that is now available for download in both iOS and Android systems. Every tree planted in the app will be translated into one actual tree planted in the real world.
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