New mindset 'key to green growth' Prayut makes pitch for sustainable BCG model

new mindset 'key to green growth'  prayut makes pitch for sustainable bcg model

Prime Minister Prayut Chan-o-cha delivers a keynote speech espousing the virtues of Thailand’s bio-circular-green economic model at the Global Compact Network Thailand Forum on Wednesday. (Photo: Wichan Charoenkiatpakul)

Prime Minister Prayut Chan-o-cha on Wednesday called for all stakeholders to change their business mindset and put a focus on sustainability as he touted Thailand's bio-circular-green (BCG) economic model as a solution to climate change and a core strategy for sustainable economic growth.

In his keynote speech at the Global Compact Network Thailand Forum (GCNT 2022), Gen Prayut discussed how the BCG model could strike a long-term balance whereby the economy can still grow while protecting the environment, according to government spokesman Anucha Buraphachaisri.

The GCNT is a collaborative network of private companies working together to meet the United Nations’ sustainable development goals (SDGs) for Thailand. This year’s forum was held under the theme “Accelerating Business Solutions to Tackle Climate & Biodiversity Challenges”.

Mr Anucha gave a summary of the prime minister’s speech which illustrated the importance of the BCG economic concept as a means to advance sustainable economic growth and ecological restoration.

The GCNT forum took place as the country is preparing for the Asia-Pacific Economic Cooperation (Apec) Summit 2022, which will be held under the theme of “Open. Connect. Balance.”

One key agenda Thailand will be pushing at the upcoming gathering of world leaders is the protection of biodiversity and the steering of efforts to tackle climate change, Gen Prayut told the attendees.

The government is committed to taking action to reduce global warming and avert its negative impact on natural resources and the environment. The private sector and the United Nations are considered the principal partners in promoting sustainable growth in all dimensions, he said.

Citing the frequency and extreme nature of the natural disasters that have struck the country in recent years, Gen Prayut said they serve as a warning sign of what’s to come, and that everyone must make the necessary preparations.

In the face of global challenges, whether it be the outbreak of a disease, a military conflict, a food and energy crisis, or even a loss of biodiversity, every nation is compelled to build up its immunity and resilience for the sake of its people, he said.

Gen Prayut stressed that acting on climate change also provides an opportunity to pursue economic growth in a sustainable manner. With this in mind, Thailand’s BCG model will be highlighted at the Apec summit, known as the Bangkok Goal Declaration on BCG.

The prime minister said it is time for everyone to embrace a change of mindset, and adjust the way they lead their life and conduct their business. Thailand has already started sharing its BCG economic model, adopted as a roadmap to balanced, environmentally friendly and all-inclusive economic growth, he noted.

Gen Prayut expressed confidence that the Bangkok Goal Declaration on BCG will be achieved and will lead to further collaboration among the Apec economies.

He said the BCG economy concept would be applied in other areas like tourism and forest conservation to benefit local communities. Support and cooperation from the private sector will be pivotal to its success, he said, adding SMEs should be strengthened to help them adopt the new model.

More than 110 organisations joined the GCNT Forum 2022. The forum was also attended by Natural Resources and Environment Minister Varawut Silpa-archa, GCNT Chairman Suphachai Chearavanont and UN Resident Coordinator in Thailand Gita Sabharwal.