EGAT and STACS jointly upgrade RECs issuing to move toward ASEAN sustainable future
27 October 2022EGAT joins hands with STACS, a Singaporean company, to integrate “ESGpedia” registry platform into Renewable Energy Certificate (REC) issuing to support green power usage and drive environmental, social, and governance (ESG) investment both in Thailand and ASEAN to achieve carbon neutrality.
On October 26, 2022, there was a virtual signing ceremony of the Memorandum of Understanding (MOU) signed by Mr. Warit Rattanachuen, Assistant Governor – Research, Innovation and Business Development of Electricity Generating Authority of Thailand (EGAT) and Ms. Sharon Yuen, Chief Commercial Officer of Hashstacs Pte Ltd. (STACS) to drive ESG with innovation to achieve ASEAN sustainability.
Mr. Warit Rattanachuen, EGAT Assistant Governor – Research, Innovation and Business Development said that as the sole local issuer of RECs in Thailand, EGAT has collaborated with STACS, a Singapore-headquartered company focused on ESG financial technology, to utilize the blockchain-based ESGpedia for enhancing traceability of RECs, preventing issues of double-counting, and ensuring the transparency of RECs issuing. The tool also helps track the sustainability goal with principles of clean energy and circular economy to drive Thailand to achieve carbon neutrality and move toward ASEAN sustainable future.
Ms. Sharon Yuen, Chief Commercial Officer of STACS added that ESGpedia is a global ESG registry integrated with international carbon credit registries, Thailand Voluntary Emission Reduction Program (TVER), and RECs that leading companies, especially in the industrial sector, trust and employ in their reporting together with other global reporting standards, such as RE100 and CDP. The collaboration between EGAT and STACS will enhance integrity of the REC market and drive ASEAN to achieve carbon neutrality.
