In Thailand, petroleum and energy conglomerate Bangchak Corporation plc (previously known as Bangchak Petroleum) and national air carrier Thai Airways International plc (Thai Airways) have signed a Memorandum of Understanding (MoU) on the exchange of technical knowledge and expertise on the use of sustainable aviation fuel (SAF) between the two companies.
Currently, the aviation industry contributes approximately 2 percent of total greenhouse gas (GHG) emissions, and it is expected to grow in the future, resulting in an unavoidable increase in GHG emissions.
As a leading “greenovation” group in Asia, Bangchak is investing in sustainable aviation fuel (SAF) production facilities from used cooking oil (UCO), adding value to waste within the country and contributing to the reduction of carbon dioxide (CO2) emissions in the aviation industry.
Bangchak is committed to pursuing its vision of “Crafting a sustainable world with evolving Greenovation” by balancing the energy trilemma to sufficiently procure, produce, and distribute petroleum and biofuels for the business sector, and the public. Furthermore, Bangchak is committed to developing and expanding its core businesses, as well as accelerating investments in green and sustainable businesses to prepare for future technological advancement and progress, and the challenges of climate change, said Thamarat Paryoonsuk, SEVP of Refinery Business Group at Bangchak.
In 2022, Bangchak established Thailand’s first and only company to produce SAF from UCO.
The collaboration aims to promote the aviation industry both domestically and internationally by refueling aircraft with SAF, ultimately achieving the goal of net-zero GHG emissions by the year 2050 within the industry.
Furthermore, this collaboration involves the sharing of knowledge, experiences, and expertise between the two parties to conduct technical studies on enhancing the efficiency of SAF usage aiming at achieving the Net Zero target, in line with the standards set by the International Civil Aviation Organization (ICAO) and the International Air Transport Association (IATA).
It is hoped that this cooperation will enable access to SAF, and lead to future collaborations which will help enhance business value while caring for the environment and society and promoting sustainable growth together.
As the national carrier, Thai Airways operates as a full-service airline providing comprehensive passenger, cargo, and mail transportation services both domestically and internationally. With a network that covers over 30 countries worldwide, the airline has been in operation for more than 63 years, and focuses on conducting business to promote balanced development across economic, social, environmental, and governance dimensions, said Taviroj Songkumpol, Chief of Corporate Strategy at Thai Airways.
Additional initiatives
Bangchak firmly believes that the collaboration with Thai Airways in this instance will contribute to promoting the aviation industry both domestically and internationally.
According to Bangchak, the company also has other initiatives in place in driving a low-carbon society.
These include increasing the proportion of clean energy usage in selected service stations towards becoming net zero service stations, collaborating with business partners to install EV chargers that cover all regions in Thailand, expanding its green power business, studying and investing in the battery business, establishing “Winnonie” electric motorbike rental platform, and pioneering the establishment of Carbon Markets Club.
The first of its kind in Thailand, the latter is a network that promotes knowledge exchange on carbon credit management and serves as a platform for carbon credit trading within the country.
The company also undertakes reforestation projects for nature-based carbon sequestration through collaboration with various organizations.
