CP, Toyota, And CJPT Sign An MOU Towards Achieving Carbon Neutrality In Thailand

The parties are to implement initiatives in the three areas of energy, mobility, and data towards producing happiness for all in Thailand

TOKYO, Apr 3, 2023 - (JCN Newswire) - Charoen Pokphand Group (CP), Toyota Motor Corporation (Toyota), and Commercial Japan Partnership Technologies Corporation (CJPT) have signed a Memorandum of Understanding (MOU) to collaborate towards achieving carbon neutrality in Thailand.

Based on an agreement in December last year that was built on the deep trusting relationship between Dhanin Chearavanont, CP's Senior Chairman, and Akio Toyoda, Toyota's President (then), CP, Toyota and CJPT have been aiming for achieving results from social implementation by the end of this year, considering how they can contribute to the happiness of the 67 million Thai citizens under the concept of "doing what can be done now, together with partners who share the same view" towards carbon neutrality in Thailand . This time, the three companies have reached an agreement to expand the scope of their collaboration to promote initiatives for carbon neutrality suited to Thailand in the three areas of energy, data and mobility, taking advantage of the country's resources, while producing hydrogen from poultry farm's biogas and conducting Carbon Neutrality Mobility Event in Thailand.

In order to immediately start working on the three areas, CP, Toyota and CJPT will conduct social implementation projects throughout the self-supporting cycle of producing, transporting and using energy in some special economic zones in Thailand. Thereafter they will verify the outcome; and try to create the basic unit which can be deployed to other regions. The three companies will also take on the challenge of visualizing actions and effects toward carbon neutrality, such as by calculating the potential effect in case of expanding this collaboration throughout Thailand, based on the amount of CO2 reductions achieved through the initiatives announced today.

Satoshi Ogiso, President and CEO of Hino Motors Ltd., Masanori Katayama, Chairman and Representative Director, CEO of Isuzu Motors Limited, Hiroki Nakajima, President of CJPT, Koji Sato, President and CEO of Toyota, Dhanin Chearavanont, Senior Chairman of CP, Soopakij Chearavanont Chairman of CP, Kachorn Chiaravanont, President of True Leasing and Member of Executive Committee of CP, Narong Chearavanont Senior Vice Chairman of CP, Supachai Chearavanont, Chief Executive Officer of CP

CP Chairman Soopakij Chearavanont said, "We are very encouraged by the consistent progress of what we have been considering with the strong desire to give back to Thailand. We will steadily implement the projects we have agreed upon and would like to openly work with any like-minded partners who wish to join us."

Koji Sato, President of Toyota, commented, "Since the time of the agreement between the top management of CP and Toyota in December last year, we have been studying this matter deeply, while keeping in mind the original purpose of the collaboration, which is "Let's all proceed with what we can do now." I am very pleased that we are now able to take the collaboration to the next stage, in less than four months after the previous announcement. We will work with partners to explore a variety of options and pathways toward carbon neutrality that are suited to the actual situation in Thailand, for bringing happiness to the people of Thailand."

Hiroki Nakajima, President of CJPT, said, "Through this collaboration, CJPT will join hands with various partners to drastically strengthen the movement of people and goods in Thailand while taking on what we can do now to reduce CO2 emissions. We would like to help enhance people's quality of life, in our effort to repay our gratitude to the Thai society."

This collaboration will be promoted with the participation of True Leasing Co., Ltd., CP's transportation service business. CJPT, which joined the agreement, is capitalized by Isuzu Motors Limited, Suzuki Motor Corporation, and Daihatsu Motor Co., Ltd. in addition to Toyota, and is promoting initiatives centered on logistics efficiency and electrification. A new company "CJPT-Asia" (tentative) will be established in Thailand as soon as the necessary procedures and preparations are in place, to further accelerate CJPT's carbon neutrality initiatives in Asia, including this collaboration. As part of CJPT's efforts in Asia, Hino Motors, Ltd. is also participating in exploring areas of contribution towards this collaboration. Since carbon neutrality should be tackled by all industries and all people in a joint manner, the three companies of CP, Toyota and CJPT would like to further collaborate widely with partners who share the same view and intention towards Carbon Neutrality and giving back to Thailand.

For more information, visit https://global.toyota/en/newsroom/corporate/39033246.html.

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