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Food & Beverage

Thailand's CP Foods goes coal-free as EU readies carbon tax

Coal phaseout saves $10.5 million while input costs have risen 10%

CP Group is Thailand's largest conglomerate, with businesses ranging from retail to telecommunications. Agribusiness is one of the conglomerate's main pillars. (Photo by Yumi Kotani)

BANGKOK -- Thai agribusiness giant Charoen Pokphand Foods says it has eliminated coal power from its domestic operations, laying the groundwork to reduce emissions at its overseas farms and food processing plants and taking precautions against rising energy costs and future European carbon tariffs.

While a third-party audit is still underway, the company says it has stopped purchasing coal, on which it previously spent about 350 million baht ($10.5 million) a year. Renewable energy from biomass and solar power rose to 30% of CP Foods' energy use last year, while that from fossil fuels like oil and natural gas fell to 26%.

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