“The impact of the Map Ta Phut fiasco could be more severe to Thailand than the sub-prime crisis,” senior executive vice president Arthid Nanthawithaya said in an interview. These were the thoughts last week of some of the top executives at Siam Commercial Bank (SCB).
“Despite a limited impact from the loans extended to the companies involved, a huge weight hangs in potential investors' minds. If this fiasco is not ended peacefully, the investment climate will be affected severely.”
SCB has extended credit lines of Bt50 billion to the 76 industrial projects in question. The main borrowers are PTT, the Siam Cement Group and their subsidiaries. All Thai banks' combined credit line to the projects is estimated at Bt170 billion.
Disparity worsens ocean pollution
Most of the Thai marine waste is plastics led by plastic debris (12%), Styrofoam boxes (10%), food wrappers (8%), plastic bags (8%), glass bottles (7%), plastic bottles (7%), and straws (5%).
Ocean plastic pollution is threatening humanity and Thailand cannot escape the blame as one of the world’s worst marine polluters. Although the government has pledged to tackle marine pollution, one thing is certain. Success is out of reach if the state authorities fail to engage local communities as equal partners.(more…)
ASEAN takes on Circular Economy as part of priority agenda
The circular ‘reuse-reduce-recycle’ approach promotes a more efficient use of resources, thereby contributing to ASEAN Member States’ commitment to the Paris Agreement on climate change and the achievement of the UN 2030 Agenda for Sustainable Development Goals.
Today, ASEAN Secretariat conducted an online workshop on Circular Economy. The workshop gathered relevant sectoral bodies to discuss the draft Framework for Circular Economy for the ASEAN Economic Community (AEC), which is one of the priority economic deliverables for Brunei Darussalam’s ASEAN Chairmanship this year.(more…)
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