Electricity Generating Authority of Thailand

EGAT has no climate governance in place, no transition plan and no meaningful targets to drive change. The company does explicitly acknowledge that climate change is an issue and has plans to develop floating solar, yet little evidence exists regarding the feasibility of these plans. Besides, hardly any other evidence of engagement with the low-carbon transition exists.

EGAT aims to triple coal capacity and double gas by 2030. The accompanying increase in renewable generation is insignificant. EGAT’s emissions intensity will increase by the end of this decade as will its absolute emissions. The company should pursue alternatives to highly polluting lignite and increase its research and development (R&D) spending on integrating renewables onto the grid. Its plans for floating solar are innovative but too long term. EGAT risks reputational damage, loss of access to funding and stranded assets if it does not undertake a transition to low-carbon generation.

EGAT acknowledges the reality of climate change and this also features as a priority for stakeholders and the business. However, its actions are inconsistent with these beliefs. EGAT should engage in scenario planning to explore the impacts of climate change on the company and the wider Thai economy and society. Based on the findings of EGAT’s assessment, the company should develop a detailed transition plan and targets that are aligned with climate science.

EGAT has no plans or targets beyond installing 2.7 GW of floating solar by 2038. Currently this is at a pilot stage. Absolute emissions are still increasing and the company does not track the scope 3 emissions from the 67% of power it purchases from third parties.

EGAT does not have a transition plan. By 2030 the company forecasts tripling its coal generation and doubling gas. EGAT does not believe renewables can replace fossil fuels as main power sources.

EGAT is engaging in R&D into floating hydro and the use of electricity to replace some fossil fuel use in transport. Fossil fuel capacity is set to increase significantly this decade.

Emissions intensity has decreased in recent years but these reductions will reverse due to significant amounts of new fossil fuel capacity coming onstream this decade.

EGAT’s risk and priorities matrix shows climate change as one of the most important issues to stakeholders and the business. However, EGAT remains wedded to fossil-fuel generation and is only taking tentative steps to grow its renewables capacity.