“TAT” joins “AWC” and partners to drive sustainable tourism and enhance Thailand as a "Global Sustainable Tourism Destination"

28 October 2022

Bangkok, 28 October 2022 – The Tourism Authority of Thailand (TAT), which is driving the sustainable tourism concept for the Thai tourism industry through uplifting the "Amazing Thailand Safety and Health Administration or SHA" standard, is joining forces with Asset World Corp Public Company Limited (AWC), Thailand’s leading integrated lifestyle real estate group, and its partners to enhance Thailand as a global sustainable tourism destination, together with the announcement of AWC’s sustainability framework and goals, reinforcing the company’s commitment of "Building a Better Future".

Mr. Yuthasak Supasorn, Governor of the Tourism Authority of Thailand (TAT), revealed that "TAT recognizes the importance of enhancing the Thai tourism industry’s sustainable growth in the long term, which is in line with modern sustainable tourism. TAT will drive sustainable tourism on our existing strength by enhancing the "Amazing Thailand Safety & Health Administration or SHA" standard to promote sustainable tourism as we aim to be a synergy center to support Thai entrepreneurs to operate sustainably. We will also set new standards for them to implement in accordance with the United Nations Sustainable Development Goals (SDGs), the international sustainable development framework that focuses on growth in the environmental dimension (carbon emission reduction, water management and waste management), community economy, as well as local culture to promote Thailand as a global sustainable tourism destination."

TAT is in the process of establishing a framework to enhance the "SHA" standard to promote sustainable tourism and aims to invite and support entrepreneurs in the Thai tourism industry to join this collaboration in accordance with the framework of sustainable tourism development. This will be the foundation for Thailand to become a global sustainable tourism destination in a concrete and quality way in accordance with international standards in the future.

Mrs. Wallapa Traisorat, CEO and President, Asset World Corp Public Company Limited or AWC, revealed that "AWC is committed to its mission of "Building a Better Future" to create value for all stakeholders and Thailand's tourism industry in a sustainable manner. We believe that the cooperation from all sectors can contribute and drive Thailand to become a global sustainable tourism destination. AWC has cooperated with TAT, our government partner, which is an important part in driving and being a center for all entrepreneurs to build sustainable value in tourism together. We also share sustainability goals with our private sector partners, leading financial institutions and international hotel chains such as Marriott, Banyan Tree, Okura, Hilton, IHG and Melia, which all emphasize the importance of sustainable tourism to drive Thailand’s sustainable economic growth, including the people and communities in our ongoing projects for long-term sustainability.”

Throughout its milestone, AWC has been committed to implementing its sustainable development strategy throughout its operations and projects. The Athenee Hotel Bangkok, A Luxury Collection Hotel under AWC, for example, is the first hotel in the world to be certificated ISO 20121, a sustainable management standard. AWC and its partners from various sectors will also join forces to create sustainable value together under the 3 pillars of the sustainable development framework in 6 dimensions, names 3BETTERs including:

  1. BETTER PLANET - A transition towards Carbon Neutrality and Circular Economy business operations from planning, construction, management, and administration processes. AWC collaborates with partners to integrate the international framework into the project development in accordance with green building standards, including materials manufacturers, contractors, project consultants, etc. and works with partners in operational management to efficiently reduce its environmental impact.
  2. BETTER PEOPLE – The improvement in livelihoods through people development, both internal and external, of the organization to enhance Occupational Health and Safety Operations and promote the well-being of society and communities. AWC cooperates with local communities to enhance knowledge and career development to generate sustainable income through "The GALLERY" a project that provides a marketplace to feature the products created by Thai artists in the local community. AWC intends to invite partners and communities to contact "The GALLERY" to feature more artistic creations as a distribution channel, reaching customers from around the world.
  3. BETTER PROSPERITY – Stimulating the broader economy by planning corporate strategies in line with the National Economic and Social Development Plan. Through investment and management of various real estate projects of AWC, building more careers for people, generating income for communities and local businesses, creating more value and strong ecosystems to elevate Thailand as a global sustainable tourism destination and promote the country's exponential economic growth.

"AWC recognizes the importance of sustainable tourism and is pleased to join forces with TAT and partners across the value chain to drive sustainable tourism, elevating Thailand as a global sustainable travel destination, and “Building a Better Future” for the country. AWC, together with partners from all sectors and international hotel chains, aim to bring all properties to TAT’s “SHA” standard certification – sustainable tourism category, reaching the goal of Carbon Neutrality and reducing waste to landfill from its operations to zero by 2030", Mrs. Wallapa concluded.

Currently, AWC's portfolio consists of 19 hospitality, 9 retails, 4 commercials and 2 wholesale businesses, totaling in 34 projects. There are 15 new projects under the development including the InterContinental Chiang Mai Mae Ping Hotel and Innside Bangkok Sukhumvit. These projects, which are being constructed according to the green building standards and have received EDGE certification, which will be open by early 2023. AWC is committed to develop the projects under the sustainable development strategy in accordance with the green building certification standards that prioritize resource efficiency. Aquatique the Beachfront Pattaya, for example, aims to achieve LEED certification by 2026, while the extension of Asiatique The Riverfront aims to achieve LEED & WELL certification by 2029.

AWC continues to operate under the framework of sustainable development and has been involved in Sustainability Index both nation and international scales, listed on the Thailand Sustainability Investment (THSI) of the Stock Exchange of Thailand, rated AA in the MSCI ESG Ratings and listed in the S&P Global Sustainability Yearbook 2022 as a member in the Hotels, Resorts & Cruise Lines sub-industry index, rated “Excellence CG Scoring” in the Corporate Governance Report and certified by the Thai Private Sector Collective Action Against Corruption (CAC).