UNDP is calling for urgent global action on an inclusive green transition at The ESG Symposium 2024, emphasising the need for ambitious climate pledges, sustainable investments and rethinking progress by focusing on measuring what matters.
Niamh Collier-Smith, Resident Representative of the United Nations Development Programme (UNDP) in Thailand, made the call in her keynote speech, underscoring the importance of ambitious climate pledges.
"Next year marks the 10th anniversary of the Paris Climate Accord—a make-or-break moment for the world to limit global warming to 1.5 degrees," she said, urging countries to enhance their climate pledges and integrate climate action into national investment plans.
“It’s time to make better choices about where to spend the money, where to invest, where to build, which material to use, how to heat and how to cool. It’s time to stop putting money in the fossil fuel sector and start putting the health of people and the planet ahead of short-term stakeholder interests,” she added.
She said that we need to change from a society that ‘values what it measures’ to a society that ‘measures what it values’. At the same time she highlighted how the UNDP introduced the Planetary Adjusted Human Development Index, which factors in carbon emissions and material footprint alongside human development indicators.
According to the World Meteorological Organisation (WMO), it is expected that the world will experience a 1.5-degree Celsius increase in temperature by 2027. The global temperature has already risen by 1.42 degrees Celsius. During the COP28 meeting, significant conclusions were reached, including an agreement among all countries to reduce dependency on fossil fuels.
The Symposium this year, held on September 30th at the Queen Sirikit National Convention Centre, showcased Thailand's efforts in sustainable finance, through initiatives like the SDG Investor Map and SDG Guidebook, which connect businesses to climate-positive investments.
The forum also fostered collaboration among government, business sectors and civil society to address ESG issues, promote knowledge exchange and support the transition to a low-carbon society.
Thammasak Sethaudom, President & CEO of SCG, highlighted at the 'ESG SYMPOSIUM 2024' that key recommendations have been submitted to the government, focusing on transitioning to clean energy, promoting a circular economy and using the 'Saraburi Sandbox' as a low-carbon model city to address policy and infrastructure challenges.
These efforts are summarized into four key proposals.
1. Unlocking Legal & Regulatory Barriers.
2. Promoting Access to Green Finance.
3. Upgrading Technology & Green Infrastructure.
4. Strengthening SMEs' Adaptability and Capability.
Thailand’s Minister of Digital Economy and Society, Prasert Jantararuangtong, said that the Thai government will carefully consider the proposals presented. “The government will urgently push forward all key policies to support Thailand's economic and social transition towards balanced and sustainable growth, ensuring that no one is left behind," Prasert said.
He also urged the business sector to adapt by seeking new opportunities and enhancing their capacities to meet the net-zero emissions goal. This includes integrating sustainability measures or ESG principles.
Prasert also highlighted the need for collective efforts to turn challenges into opportunities, ensuring Thailand’s resilience and sustainable growth amidst global changes.
