Mitsubishi Electric Corporation and Charoen Pokphand Group (CP Group) have signed a memorandum of understanding (MOU) to promote sustainability in Thailand and the ASEAN region. The collaboration focuses on achieving carbon neutrality and fostering a circular economy by combining the technological strengths and business infrastructure of both companies.
Under this partnership, Mitsubishi Electric and CP Group aim to achieve net-zero greenhouse gas (GHG) emissions in their factories and offices by 2030, and across their entire value chains by 2050. The initiative also includes efforts to reduce waste and environmental impact through the efficient use and recycling of resources.
Key Collaboration Initiatives
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Carbon Neutrality
- CP Group has implemented Mitsubishi Electric’s SCADA systems in food factories and farms in Thailand to monitor and improve energy consumption efficiency.
- Energy-saving solutions from Mitsubishi Electric’s air conditioning and refrigeration expertise are being tested in CP Axtra retail stores in Bangkok, with the goal of reducing energy consumption by more than 20%.
- Both companies will expand these solutions to CP Group’s retail stores, factories, data centers, and other facilities.
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Circular Economy
- The two companies will explore a plastic recycling business in Thailand, combining Mitsubishi Electric’s recycling technology with CP Group’s business network. This feasibility study involves collaboration with various stakeholders in the plastic supply chain, including industry associations and government agencies.
Quotes from Key Leaders
Soopakij Chearavanont, Chairman of CP Group, emphasized the importance of this initiative, stating, “Sustainable development is not just our goal, but a shared responsibility across all sectors. Our collaboration with Mitsubishi Electric will help CP Group achieve carbon neutrality and promote a circular economy, creating positive impacts on the environment, society, and the economy of Thailand and ASEAN.”
Kei Uruma, President & CEO of Mitsubishi Electric, expressed enthusiasm for the partnership, saying, “We are eager to work with CP Group, a company that shares our vision for contributing to society. By leveraging our technology and experience, we can support the reduction of GHG emissions throughout Thailand and ASEAN and promote plastic recycling without relying on carbon credits.”
About the Collaboration
The partnership will also focus on developing advanced technologies, including AI and robotics, to address social challenges and create new solutions for sustainable business models.
