SCGC Receives Awards from BEDO for Promoting Biodiversity towards Sustainable Ecosystems from Khao Yai Da Watershed Restoration Project in Rayong Province

Bangkok — 11 July 2023 : SCG Chemicals, or SCGC, Chemicals Business for Sustainability, which conducts its operations in line with ESG (Environmental, Social, and Governance) principles, has been honored with an award from the Biodiversity-Based Economy Development Office (BEDO), a public organization under the Ministry of Natural Resources and Environment. This recognition stems from SCGC's implementation of the Payment for Ecosystem Services (PES) concept, which is part of the biodiversity value assessment. The PES concept was applied in the watershed restoration project at Khao Yai Da, Rayong Province, demonstrating the value and benefits derived from a sustainable ecosystem. Jatuporn Burusphat, Permanent Secretary of the Ministry of Natural Resources and Environment, presented the award at the event "Biodiversity Resources and Market Opportunities Expo."

Namthip Samphowprasert, Brand Management and CSR Director of SCGC said, "The climate emergency profoundly impacts both society and the environment, including a reduction in biodiversity which could ultimately lead to species extinction and a food crisis. As such, SCGC has undertaken projects to restore biodiversity based on international standards through initiatives such as the 'Khao Yai Da Watershed Restoration Project in Rayong Province' and the 'SCGC Fish Home Project,' which have been ongoing for over a decade. These projects have successfully enriched biodiversity in terrestrial and marine ecosystems in a tangible way, with the core goal of sustainable development. Key elements of these efforts include innovations for society and the environment and collaboration among all sectors, such as the government, private sectors, and civil society. For instance, the Watershed Restoration Project is a result of the collaborative efforts of communities around Khao Yai Da, which serves as a model for collaborative watershed conservation of the local administrative organization of Klaeng Subdistrict, the Eastern Watershed Research Station, under the Ministry of Natural Resources and Environment, and the Biodiversity-Based Economy Development Office.

The concept of Payment for Ecosystem Services (PES) emerged from the collaboration between SCGC, the communities around Khao Yai Da, local government agencies, and the Biodiversity-Based Economy Development Office (BEDO). The partnership seeks to restore and conserve the watershed forest in the Khao Yai Da area. This collaborative effort involves various activities, including calculating the value of the ecosystem based on international standards so that beneficiaries can understand the value of the restored ecosystem. In 2022, the value of the ecosystem services, or PES, of Khao Yai Da watershed forest amounted to over 200 million baht per year.

The Biodiversity Resources and Market Opportunities Expo, organized by BEDO, has a mission to support the development of a bio-economy. This year's event was held under the theme "BEDO-BGC Society Forum: Bio-Economy, Creativity, Future," and gathered over 5,000 people from government agencies, private businesses, educational institutions, collaborative networks, and community enterprises. Participants exchanged knowledge on developing the bio-economy along with conservation for future sustainability. BEDO plans to expand the concept of Payment for Ecosystem Services (PES) to other areas through community networks in the future.