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SET partners with mai-listed Company Association (maiA) on reforestation project
The Stock Exchange of Thailand (SET), in collaboration with mai-listed Company Association (maiA), the Royal Forest Department, and communities, reforests 91 rais under SET-led collaborative Climate Action, Care the Wild: “Plant & Protect” project, in Ban Wiang sub-district of Rong Kwang district, Phrae province in the northern part of Thailand.
The initiative is to rehabilitate the ecosystem in the upstream forest area, create food sources, and generate income for 390 community households, leading to balanced development and co-exist with communities and environment in a sustainable way.
SET President Pakorn Peetathawatchai said that SET has rolled out the Care the Wild “Plant & Protect” project since the year 2020 as a platform of collaboration among the business, the government, the social sectors and communities to build sustainable reforestation.
This can be carried out by ‘planting’ trees to expand forestland, ‘protecting’ the forest by promoting community participation in forest maintenance, and embracing forests via the governance mechanism of transparent information disclosure. The ultimate aim is to reduce greenhouse gas emissions, cope with climate change, and solve environmental problems, in accordance with SET’s vision: ‘To Make the Capital Market Work for Everyone’.
“SET and maiA have jointly raised fund for planting 18,200 trees on 91 rais, of which 25 rais have been reforested by SET and the remaining 65 rais by mai-listed companies, in the community forests of Ban Oi and Ban Boon Roeng villages in Ban Wiang sub-district of Rong Kwang district, in Phrae province.
The expected results are that the 91-rai reforestation will annually absorb greenhouse gases amounting to 163,800 kilograms of carbon dioxide equivalents, and rehabilitate the ecosystem in the upstream forest area. Moreover, the project will benefit 390 households or about 1,300 people who can grow agricultural products for consumption and commercial purposes, generate income and add value to develop the area in to an ecotourism destination creating community empowerment in the long run,” added Pakorn.
