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TGO initiates the Low Carbon and Sustainable Business Index (LCSI)
Thailand Greenhouse Gas Management Organization (Public Organization) or TGO under the Ministry of Natural Resources and Environment has approved and certified greenhouse gas emission reduction units, or so called “Carbon Credits”, and low carbon projects since 2012. TGO encourages public and private sectors to develop greenhouse gas emission reduction projects and activities through various schemes, namely CDM carbon credit, T-VER carbon credit, Carbon Footprint for Products, Carbon Footprint for Organization and so on.
In 2018-2019, TGO conducts a study project aiming to establish the new initiative on “Low Carbon and Sustainable Business Index” or “LCSI” to evaluate business organization’s efforts on their greenhouse gas management and mitigation actions while conforming to sustainable development targets. The project aims to glorify excellent-operational business entities that can be representing as a good model for the other businesses. According to the LCSI criteria, it is fundamental for the business to carry their development path following the Sufficiency Economy Philosophy, Sustainable Development Goals (SDGs), low carbon businesses as well as sustainable production and consumption approaches. The criteria consist of 3 aspects:
1) Low Carbon and Sustainable Society (20 points), which is related to their employee, supplier, customer and social responsibility;
2) Low Carbon and Sustainable Economy (30 points), which is related to SDGs #12 and #13, climate-change related risk and opportunity, economic-based greenhouse gas emission reduction target and internal carbon pricing;
3) Low Carbon and Sustainable Environment (50 points), which is related to natural resources management, pollution and renewable energy management, climate change policy, greenhouse gas emission data reporting, greenhouse gas emission reduction target and international and, or domestic award and standard.
Qualified organizations to apply for the LCSI must be proven to have their Sustainability Reports, or annual reports execution, and run their businesses without compliant or prosecution case in the last 2 years. Scoring method is based on weighted-raking approach. In order to launch this new initiative, TGO organizes a seminar to introduce the “Low Carbon and Sustainable Business Index: LCSI” to businesses in late of March 2019 disseminating results on development of LCSI among related stakeholders. If businesses wish to join to LCSI project, or obtain more information, please visit the URL carbonmarket.tgo.or.th or contact Mr. Nopparat Phromin at <nopparat@tgo.or.th> and Mr. Hiripong Thepsiriamnuay at <hiripong@tgo.or.th>.png)
