Memorandum of Understanding signed to test circular economy approach in Krabi
The Bio-Circular-Green Economy (BCG) model is now being deployed as a mechanism to propel the Thai economy towards exponential growth. The BCG model is also expected to more evenly distribute income and opportunity, allowing communities to thrive with fewer differences. The model will be piloted in Krabi Province in line with a circular economy and environment memorandum of understanding.
Signatories to the MOU include the Tourism Authority of Thailand, Krabi Chamber of Commerce, Krabi Hotel Association and the Sustainable Krabi Foundation. The organizations aim to encourage the participation of local businesses in reducing environmental impacts through the circular economy approach. Food and plastic waste is reduced by developing reusable products and developing efficient waste management systems, among other things.
The Chairman of the Thai Chamber of Commerce (TCC), Sanan Angubolkul, stated that entrepreneurs in particular are increasingly interested in environmentally conscious business activities. This increased awareness is partly due to global changes and the adoption of environmental responsibility as a business standard.
Sanan said Thailand needs to adjust its focus in a timely manner, particularly in sectors that rely heavily on natural resources, such as tourism.
According to the chairman, the TCC plans to expand this year’s BCG model to companies in 23 coastal provinces to minimize damage to the marine environment and promote sustainable development of the tourism sector.(NNT)