Siam Cement Group (SCG) , Thailand’s largest building material firm, announced a plan to invest THB100bn (USD2.89bn) over the next five years in areas such as renewable energy, while continuing efforts to decarbonize its main building materials and chemicals businesses, as reported by Nikkei Asia on December 15. The company will increase its efforts in manufacturing materials for solar power generation and lithium-ion batteries for electric vehicles (EVs). By 2027, it aims to expand its solar power generation capacity to 3,000 megawatts (MW), about 15 times the current level. 

SCG aims for a sustainable growth model to replace its carbon-intensive cement and petrochemicals manufacturing businesses. As investors pay more attention to a company’s environmental, social, and governance (ESG) practices, SCG is engaging in more circular businesses, including those focusing on recycling, reducing greenhouse gas emissions (GHG), and developing products with a smaller environmental footprint. In September, it formed a partnership with Japan’s Nomura Research Institute on an experiment to visualize the amount of carbon dioxide (CO2) emissions generated from its distribution network. In the same month, the company also released a plan to introduce a new product that reduces CO2 emissions during production by half compared to conventional cement, to realize its commitment to reaching net-zero emissions by 2050.

Sources:

https://asia.nikkei.com/Business/Companies/Siam-Cement-to-invest-3bn-in-renewable-energy-and-decarbonization

https://asia.nikkei.com/Spotlight/Environment/Climate-Change/Siam-Cement-plans-building-material-with-50-less-CO2-emissions-by-2030

https://www.freemalaysiatoday.com/category/business/2022/08/28/siam-cement-speeds-up-green-transition-with-recycling-energy-deals/