Charoen Pokphand Group (CP) and Mitsubishi Electric Corporation have signed a memorandum of understanding (MoU) for a comprehensive collaboration to promote carbon neutrality and a circular economy in Thailand. This partnership aims to contribute to a more sustainable society by combining the strengths and resources of both companies.
Both companies have set ambitious environmental goals. They plan to achieve net-zero greenhouse gas (GHG) emissions from their factories and offices by 2030 and net-zero GHG throughout their value chains by 2050. In addition, they will reduce waste and environmental impact by promoting efficient resource use and recycling.
The first phase of the collaboration focuses on reducing GHG emissions and energy consumption in CP Group’s operations by incorporating Mitsubishi Electric’s advanced technologies. This includes deploying SCADA systems in CP’s food factories and farms to improve energy efficiency, with initial tests at CP Axtra retail stores in Bangkok targeting a 20% reduction in electricity consumption. Successful practices will be expanded to CP Group’s factories, buildings, and data centres.
Circular Economy Initiative
Both companies are also conducting a feasibility study for a plastic recycling business in Thailand. By combining Mitsubishi Electric’s recycling expertise in Japan with CP Group’s extensive infrastructure, the project aims to create a sustainable recycling ecosystem. This initiative will involve stakeholders from across the plastic supply chain, including industry associations and government agencies.
Soopakij Chearavanont, Chairman of CP Group, highlighted the importance of joint efforts: “Sustainable development is not just a goal but a shared responsibility across all sectors. Our collaboration with Mitsubishi Electric will propel CP Group toward carbon neutrality and the circular economy, creating positive impacts on Thailand’s environment, society, and economy.”
Kei Uruma, President & CEO of Mitsubishi Electric, added: “We are eager to work with CP Group, a company deeply committed to contributing to society. Through this collaboration, we aim to reduce GHG emissions across Thailand and ASEAN without relying on carbon credits, while promoting plastic recycling and energy-saving solutions.”
This collaboration sets the stage for further joint development of advanced technologies, including AI, robotics, and data utilisation, reinforcing the companies' commitment to tackling social challenges while promoting sustainable growth in Thailand and ASEAN.
