Wave Entertainment Plc, which specialises in facilitating carbon credit trade, has joined hands with Wave BCG Co, an event organiser, to make Mice (meetings, incentives, conventions and exhibitions) businesses "carbon neutral" events, starting with the 2023 Thailand Mobile Expo.
The event opens tomorrow and continues through Sunday.
Opas Cherdpunt, chief executive of Wave BCG, expects the Thailand Mobile Expo to generate around 1,500 tonnes of carbon dioxide during the four-day event.
This amount can be offset through carbon credit trade or reduced by the use of modern technology to curb carbon dioxide emissions.
Carbon credit trade refers to the amount of carbon dioxide emissions reduced by environmental projects, including clean energy development. The amount can be sold to other companies to offset carbon dioxide they release into the air.
"This event and other Mice businesses release carbon dioxide, so we should find ways to deal with the emissions," said Mr Opas.
Wave BCG plans to co-organise various events this year and expects they could generate up to 10,000 tonnes of carbon dioxide.
The company and Wave Entertainment, which signed a memorandum of understanding (MoU) on the cooperation yesterday, aim to improve exhibitions and events in Thailand, so they will be more eco-friendly and in line with global carbon neutrality campaigns, said James Andrew Moors, chief executive of Wave Entertainment.
Carbon neutrality refers to efforts to strike a balance between carbon dioxide emissions and absorption in order to deal with global warming, blamed for causing climate change.
Prime Minister Prayut Chan-o-cha vowed in 2021 during the 26th UN Climate Change Conference in Glasgow that Thailand would be more serious in addressing climate change and strive to reach carbon neutrality by 2050.
"The MoU wants to improve the way exhibitions in Thailand are organised to ensure sustainability. We expect this concept to attract both Thai and foreign exhibitors," said Mr Moors.
Wave Entertainment will buy carbon credits from Thailand, Singapore and Vietnam and resell them to customers who want carbon credits, he said.
The company has contracts with Thai companies listed on the stock market. These companies want to buy carbon credits.
Wave Entertainment expects revenue from the carbon credit trade business to reach 200 million baht in 2023.
