Siam Piwat: Pioneering Sustainable Transformation

Siam Piwat: Pioneering Sustainable Transformation

Siam Piwat joins hands with all sectors to achieve net-positive impact, aiming to power all properties with 100% renewable energy by 2030

Siam Piwat Group, a real estate and retail developer, the owner and operator of Siam Paragon, Siam Center, and Siam Discovery, as well as a joint venture partner of ICONSIAM and Siam Premium Outlets Bangkok, is bolstering its leadership in sustainable world-class destination development. The company is achieving this by collaborating with partners across various sectors to align its business with people, society, and the environment. Furthermore, it's expediting projects to transition to clean energy, advancing the 360-degree waste management program, and actively participating in the development of Pathumwan into a smart eco-district. This initiative aims to position Siam Piwat as Thailand’s pioneering retail property developer in collaboration with premier global brands and organisations to promote sustainability and align with the United Nations’ sustainability goals, thus meeting global business practice standards.

Ms. Naratipe Ruttapradid, Chief Operating Officer at Siam Piwat Co., Ltd., stated, “Siam Piwat has long been recognised by various world-class brands for centring its business on sustainable concepts and practices. Guided by the vision to benefit society at large and elevate the quality of life for all, we strive to utilise our business as a platform for developing individual capabilities and ensuring the growth and success of all involved parties. We also prioritise environmental conservation in all our operations, promoting resource efficiency and reutilisation.”

Siam Piwat remains steadfast in leveraging its capabilities and business networks to create an urban model for environmental revitalisation and drive the adoption of renewable energy and 360-degree waste management. The Group is poised to sign a memorandum of understanding with world-class brands on sustainability by early 2024, with the aim of achieving net-zero greenhouse gas emissions by 2050.

Assoc. Prof. Singh Intrachooto, Ph.D., a consultant and sustainability expert, who has been a key driver and co-developer of Siam Piwat’s sustainability initiatives and eco-projects for over a decade, emphasised, “Siam Piwat is a pioneer that has long championed sustainability. In my role as a consultant to Siam Piwat for more than a decade, I can confidently say that it is a private organisation with robust and concrete environmental practices that often exceed internationally accepted standards.”

Green initiatives developed by Siam Piwat in collaboration with Assoc. Prof. Singh include eco-projects aimed at transforming shopping centres into sustainability learning centres, the publication of “Kheo Siam,” a book on environmental issues in Thailand and worldwide, eco-trend initiatives, and Siam Piwat’s approaches to environmental management. Furthermore, Siam Piwat played a pivotal role in advancing eco-community development, culminating in the establishment of ECOTOPIA at Siam Discovery, Asia’s first and largest eco-lifestyle hub. This initiative was born from Siam Piwat CEO Chadatip Chutrakul’s vision to empower communities and producers of eco-friendly products at all levels.

Clean power and waste management towards net-zero

Siam Piwat has integrated environmental management into its business operations, commencing with energy conservation and enhancing energy efficiency by replacing existing lighting with LED bulbs to save energy and employing AI-powered environmental control systems within its buildings. Moreover, the company has expanded its efforts to utilise clean energy, evident in the installation of rooftop solar panels at ICONSIAM, producing over 1 million kWh annually and reducing greenhouse gas emissions by approximately 550 tCO2e per year. Siam Piwat has also collaborated with Gunkul Engineering Public Company Limited to develop and install a rooftop solar PV system covering more than 20,000 square meters at Siam Premium Outlets Bangkok, generating over 4,800,000 kWh of electricity annually and reducing greenhouse gas emissions by approximately 4,300 tCO2e per year. Additionally, Siam Piwat has partnered with its associates to install electric vehicle charging stations to serve customers at its shopping centres. These initiatives are integral to Siam Piwat’s efforts to reduce greenhouse gas emissions and contribute to the creation of a low-carbon society.

Presently, Siam Piwat is collaborating with several leading clean energy organisations in Thailand, including SCG Cleanergy Co., Ltd., a subsidiary of Siam Cement Public Company Limited (SCG), and B.Grimm Power Limited, to procure renewable energy (RE). The goal is to enable every shopping centre within the Siam Piwat Group to transition successfully to renewable energy, reducing reliance on electricity generated from fossil fuels. The target is to increase the utilisation of renewable energy to 30% compared to the total electricity consumption across all areas under Siam Piwat’s direct management by 2026 and to achieve RE100% in all areas by 2030.

Addressing Thailand's Waste Management Challenges: Siam Piwat aims to tackle Thailand's waste management challenges by promoting resource efficiency through a circular economy approach with the Siam Piwat 360° Waste Journey to Zero Waste program. To facilitate efficient waste management, this program has established a Recycle Collection Center (RCC) in collaboration with various partners, collecting and sorting cleaned waste for recycling to be repurposed or upcycled for added value. Some of the upcycled products are also available for sale in ECOTOPIA, the Group’s retailer of green products. Siam Piwat’s goal is to divert 50% of its waste from landfills by 2030.

Siam Piwat is also cognisant of the growing amount of electronic waste (e-waste) and has partnered with Synnex in the Trusted by Synnex E-Waste project to establish collection points for e-waste at Siam Paragon.

Strategy for the development of Pathumwan as a Smart Model

In addition to the sustainable development of world-class destinations, Siam Piwat seeks to advance its business in a manner that sustains mutual benefits for all parties within the ecosystem, including various communities in Pathumwan – a district at the heart of Bangkok and home to various projects by Siam Piwat. Starting today, Siam Piwat is prepared to lead the transformation of Pathumwan into a smart ecosystem model. To achieve this goal, the company is collaborating with Assoc. Prof. Niramon Serisakul, Director of the Urban Design and Development Center, Center of Excellence in Urban Strategies (UddC-CEUS), Faculty of Architecture, Chulalongkorn University. Assoc. Prof. Niramon Serisakul expressed her views on the initiative to transform Pathumwan into a smart ecosystem model:

“Pathumwan is the epicentre of shopping destinations for Thai and international visitors of all ages. It offers a diverse range of shopping centres, department stores, and community malls, both vertical and horizontal, catering to the lifestyle of every individual. The area is home to educational institutions, tutoring schools, offices, mixed-use buildings, and more. Siam Piwat's role as a leader in elevating Pathumwan into a smart eco-district will enhance its competitive edge and enable it to maintain its position as a premier creative economic district and a driver of Thailand's economy.”

Siam Piwat’s central mission is to advance sustainability, enabling Thailand to achieve its sustainable development goals and create a better world for all.

Do you like the content of this article?