What: Thai retail giants commit to net-zero emissions and circular economy practices, showcasing industry-wide shift towards sustainability.

Why it is important: The adoption of ambitious sustainability goals by leading Thai retailers demonstrates the growing recognition of environmental responsibility as a key factor in maintaining competitiveness and meeting evolving consumer expectations.

Major Thai retailers are making significant strides towards sustainability, with companies like Central Retail Corporation (CRC) and Siam Piwat leading the charge. CRC aims to achieve net-zero greenhouse gas emissions by 2050 and become a leader in green and sustainable retail. For 2024, the company targets a 10% reduction in greenhouse gas emissions.

Siam Piwat has been addressing environmental issues for over a decade, focusing on renewable energy systems, electricity consumption reduction, and comprehensive waste management. Their "ONESIAM Drinking Water" project, featuring infinitely recyclable aluminium cans, contributes to their goal of reducing landfill waste by 50% by 2030.

Other retailers like CP All (7-Eleven operator) and The Mall Group are also implementing sustainability strategies. CP All aims for carbon neutrality by 2030 and net-zero emissions by 2050. The Mall Group is working towards eliminating 100% of plastic use by 2030.

These initiatives encompass various aspects of sustainability, including green operations, renewable energy adoption, waste reduction, and circular economy practices. The collective effort reflects a growing trend in the retail sector towards environmental responsibility and sustainable business practices.

The retail industry is increasingly focusing on sustainability, with the potential for significant economic and environmental benefits. As highlighted in "The potential of sustainable retail" report, sustainable retail practices can add nearly £100m to local economies and boost retail brand revenues by up to 13% over the long term. Key features of sustainable retail include increased use of renewable energy, energy-efficient buildings, reduction in plastic use, and focus on ethical supply chains. This trend is exemplified by companies like Siam Piwat Group, which has committed to ambitious sustainability goals, including net-zero greenhouse gas emissions by 2050 and 100% renewable energy use by 2030. Additionally, Siam Piwat is focusing on waste management, aiming to divert half of their waste from landfills by 2030, demonstrating the comprehensive approach retailers are taking towards sustainability.

Thai Retail giants set their sights on ‘green stores’