In an era when climate change and environmental degradation dominate global headlines, businesses are under increasing pressure to adapt.
For WHA Corporation Plc, one of Thailand's leading industrial estate and infrastructure developers, the challenge has become an opportunity.
The company is reimagining its role in the industrial sector by weaving sustainability into the fabric of its operations.
Chief executive Pajongwit Pongsivapai introduced a bold vision called "Turning Green to Growth", a concept that positions environmental responsibility as a driver of long-term profitability.
In his view, the industrial sector must evolve beyond traditional models of expansion and embrace innovation that reduces carbon emissions, conserves resources and restores ecosystems.
"Turning Green to Growth must contribute and create more business opportunities that support WHA's revenue growth in the future," Mr Pajongwit said, emphasising the company's green transition is inseparable from its financial ambitions.
The company is not only building industrial estates, but also cultivating ecosystems where clean energy, electric vehicles (EVs) and biodiversity restoration coexist with manufacturing and logistics.
TURNING GREEN TO GROWTH
The initiative must contribute to environmental stewardship and create new avenues for revenue growth, ensuring WHA remains competitive in the global marketplace, he said.
By adopting technologies and innovations that reduce carbon emissions, improve resource efficiency and promote circularity, WHA is aligning itself with Thailand's transition to a low-carbon, circular economy.
Beyond internal changes, the company is building an ecosystem that supports green technologies across its value chain, said Mr Pajongwit.
This ecosystem is intended to tackle global challenges ranging from climate change and biodiversity loss to increasingly stringent sustainability standards imposed by international markets.
WHA expects revenue from green businesses to rise from 1 billion baht in 2025 to 1.5 billion this year, with a long-term target of 10 billion by 2030.
Several business units are expected to drive this growth. Mobilix promotes EV adoption among its industrial logistics customers.
In 2025, WHA leased 387 EV units generating 71 million baht in revenue. By 2030, the company aims to expand its EV fleet to 10,000 units, contributing 5.5 billion baht in revenue.
POWER AND WATER
The renewable energy business is also expected to play a major role.
WHA plans to expand clean power generation capacity from 498 megawatts in 2025, with expected revenue of 595 million baht, to 1,222MW by 2030, generating 5.6 billion baht.
This expansion will support manufacturers' decarbonisation plans and strengthen WHA's position in the energy transition, he said.
Meanwhile, water reclamation is emerging as another growth engine. Water reclamation or water recycling captures and treats wastewater so it can be reused safely.
In 2025, WHA sold 8.8 million cubic metres of reclaimed water, generating 301 million baht. By 2030, sales are projected to reach 24.3 million cu m, with revenue climbing to 750 million baht annually.
Subsidiary WHA Utilities and Power Plc adds value by turning wastewater into demineralised and premium clarified water, which is sold to factories at a lower cost but with higher quality.
NATURE POSITIVE
WHA is pioneering biodiversity conservation in Thailand's industrial estate sector by launching a "nature positive" project that goes beyond reducing environmental harm to actively restoring ecosystems.
Nature positive is a concept aimed at restoring and regenerating ecosystems, supporting human activities that leave the planet better off, not just less damaged.
The company set its sights on becoming nature positive by 2050, pledging measures that extend well beyond cutting carbon emissions, said Mr Pajongwit.
At WHA Eastern Seaboard Industrial Estate 2 (WHA ESIE 2) in Chon Buri, the company is transforming a hill into a green area by planting trees and restoring biodiversity, he noted.
Initial surveys in 2025 identified 89 plant species and 31 bird species, along with detailed soil data to guide restoration efforts. This project not only supports biodiversity, but also enhances the area's ability to absorb carbon dioxide.
WHA is considering measuring carbon credits from the site, which could be traded to other companies.
Carbon credits represent the reduction of greenhouse gas emissions achieved by environmental projects. These credits can be traded to companies seeking to offset their own emissions, making them a vital tool in global climate strategies.
To accelerate restoration, WHA is working with the Mae Fah Luang Foundation under Royal Patronage, a respected leader in environmental projects.
Mr Pajongwit said the company plans to expand biodiversity restoration to WHA ESIE 3 in Chon Buri and WHA Rayong 36, targeting a combined 150 rai of green areas across three estates.
WHA aims to eventually cover 233 rai across eight industrial estates, he said.
With 15 estates in Thailand and two in Vietnam, the potential scale of impact is significant, said Mr Pajongwit.
BIODIVERSITY
WHA's biodiversity projects are designed to qualify as Other Effective Area-based Conservation Measures (OECMs) and support its efforts to reduce greenhouse gases.
Introduced by the Convention on Biological Diversity in 2010, OECMs are areas outside official protected zones such as national parks that still deliver long-term conservation benefits.
They are tracked globally by the UN Environment Programme World Conservation Monitoring Centre and are central to the "30x30" goal of conserving 30% of Earth's land and oceans by 2030.
"WHA's biodiversity restoration projects are definitive examples of applying nature-based solutions to enhance the quality and biodiversity of green spaces within industrial estates," said Smitthi Harueanphuech, chief nature-based solutions officer at the Mae Fah Luang Foundation.
Pilot projects for soil enhancement and regenerative practices are already underway at WHA ESIE 3 and WHA Rayong 36, preparing land for future planting and biodiversity restoration, he said.
The company's sustainability journey is not limited to biodiversity, as it aims to achieve net-zero greenhouse gas emissions by 2050, said Mr Pajongwit.
As part of this plan, WHA aims to reduce Scope 1 and Scope 2 emissions by 42% by 2030, he said.
Scope 1 emissions are direct emissions from company-owned sources, such as vehicles, while Scope 2 emissions are indirect emissions from purchased electricity and energy.
By tackling both, WHA is addressing its most immediate carbon footprint while preparing for deeper reductions in the long term, said Mr Pajongwit.
To achieve its ambitious goals, he said the company outlined five sustainability strategies: environmental stewardship, social empowerment, responsible governance and innovation, leadership for the green economy, and acting as an enabler for a sustainable Thailand.
Mr Pajongwit said these strategies reflect WHA's core mission: "We shape the future".
SHAPING INDUSTRY
He said the company's approach demonstrates how industrial estate developers can play a transformative role in sustainability.
By integrating green technologies, biodiversity restoration and circular economy practices, WHA is positioning itself as a leader in Thailand's green transition, according to Mr Pajongwit.
The projects not only promise financial growth, but also contribute to global efforts to combat climate change and biodiversity loss.
Industrial estates were once seen as symbols of environmental strain, but WHA is working to redefine them as hubs of innovation and ecological responsibility, he noted.
The transformation is not without challenges, but the company's willingness to invest in long-term solutions signals a new era for Thailand's industrial sector, said Mr Pajongwit.
