BIG Highlights 3 Key Factors to Driving Up Energy Costs and Global Competition for Clean Energy

Mr. Piyabut Charuphen, Managing Director of BIG, delivered a speech at the “ASEAN Economic Outlook 2025: The Rise of ASEAN, A Renewing Opportunity” event, organized by Bangkok Biz News. In his speech titled “Energy Transition Towards A New Green Economic,” he discussed the challenges businesses currently face, including intense competition and rising production costs.

Piyabut identified three primary challenges:

1. Geopolitics: Trade disputes and geopolitical tensions are driving up energy costs.
2. Technology: The rapid advancement of technologies like AI is creating a competitive landscape where companies with early access to these technologies gain a significant advantage.
3. Climate Change: The increasing frequency and severity of natural disasters worldwide are putting immense pressure on businesses and economies.

Piyabut further emphasized the growing importance of clean energy solutions and noted that global leaders, NGOs, and businesses are collaborating to address the challenges of increasing energy demand, particularly for energy-intensive technologies like AI, while simultaneously reducing greenhouse gas emissions.

Futhermore, he highlighted the role of hydrogen in the transition to a low-carbon economy. With the increasing focus on decarbonization, companies are exploring energy mixes that include clean fuels like hydrogen. BIG, being a major producer of hydrogen, is well-positioned to capitalize on this trend. The parent company, Air Products, has invested significantly in hydrogen production projects worldwide.