WHA Corporation Plc, a prominent Thai industrial estate and infrastructure developer, is strategically integrating sustainability into its core operations, transforming environmental responsibility into a driver for future profitability. The company’s forward-thinking initiative, dubbed “Turning Green to Growth,” aims to redefine the industrial sector by prioritizing innovation that reduces carbon emissions, conserves resources, and actively restores ecosystems. This approach is designed not only to meet environmental goals but also to unlock significant new business opportunities and bolster WHA’s revenue streams.
From Industrial Estates to Green Ecosystems
Under the leadership of Chief Executive Pajongwit Pongsivapai, WHA is moving beyond traditional industrial development. The company is cultivating integrated ecosystems where clean energy, electric vehicle (EV) adoption, and biodiversity restoration are central components alongside manufacturing and logistics. This holistic strategy is intended to ensure WHA remains competitive in a global market increasingly focused on sustainability and environmental, social, and governance (ESG) standards.
By adopting advanced technologies and innovative practices that enhance resource efficiency and promote circular economy principles, WHA is aligning itself with Thailand’s national objectives for a low-carbon and circular economy. This commitment extends across WHA’s value chain, fostering an environment that supports green technologies and addresses pressing global challenges such as climate change and biodiversity loss.
Projected Revenue Growth from Green Initiatives
WHA has set ambitious financial targets driven by its green transition. The company anticipates revenue from its green business segments to increase substantially, projecting a rise from 1 billion baht in 2025 to 1.5 billion baht in the current year, with a long-term goal of reaching 10 billion baht by 2030. Several key business units are expected to spearhead this growth:
- Electric Vehicle (EV) Solutions: Through its subsidiary Mobilix, WHA is promoting EV adoption among its industrial logistics clients. In 2025, WHA leased 387 EV units, generating 71 million baht in revenue. The company aims to significantly expand its EV fleet to 10,000 units by 2030, forecasting a contribution of 5.5 billion baht to revenue.
- Renewable Energy: WHA plans to substantially increase its clean power generation capacity. This expansion is slated to grow from 498 megawatts in 2025, with an expected revenue of 595 million baht, to 1,222 MW by 2030, generating an estimated 5.6 billion baht. This growth will support manufacturers’ decarbonization efforts and solidify WHA’s role in the energy transition.
- Water Reclamation: The water utilities business is emerging as another significant growth area. WHA focuses on water reclamation, which involves capturing and treating wastewater for safe reuse. In 2025, the company sold 8.8 million cubic meters of reclaimed water, generating 301 million baht. Projections for 2030 indicate sales reaching 24.3 million cubic meters, with annual revenue climbing to 750 million baht. WHA Utilities and Power Plc enhances this by processing wastewater into demineralized and premium clarified water, offering a cost-effective, high-quality solution to factories.
Pioneering ‘Nature Positive’ Biodiversity Conservation
WHA is taking a leading role in biodiversity conservation within Thailand’s industrial estate sector by implementing a “nature positive” project. This initiative goes beyond merely minimizing environmental impact; it actively seeks to restore and regenerate ecosystems, aiming to leave the planet in a better state. WHA has set a target to achieve nature positive status by 2050, with measures extending beyond carbon emission reductions.
At the WHA Eastern Seaboard Industrial Estate 2 (WHA ESIE 2) in Chon Buri, the company is transforming a degraded hill into a thriving green space through extensive tree planting and biodiversity restoration. Initial ecological surveys conducted in 2025 identified 89 plant species and 31 bird species, providing crucial data to guide restoration efforts. This project not only enhances local biodiversity but also improves the area’s capacity for carbon sequestration.
WHA is exploring the potential to measure and trade carbon credits generated from these restoration sites, offering a financial incentive for environmental stewardship. To accelerate these efforts, WHA is collaborating with the Mae Fah Luang Foundation under Royal Patronage, a respected organization in environmental conservation. 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 these three estates. Ultimately, WHA aims to cover 233 rai across eight industrial estates, leveraging its significant footprint of 15 estates in Thailand and two in Vietnam.
OECMs and Global Conservation Goals
WHA’s biodiversity projects are designed to qualify as Other Effective Area-based Conservation Measures (OECMs). OECMs, recognized by the Convention on Biological Diversity, are areas outside traditional protected zones that deliver significant, long-term conservation benefits. These areas are globally tracked by the UN Environment Programme World Conservation Monitoring Centre and are vital for achieving the international “30×30” goal, which aims to conserve 30% of the Earth’s land and oceans by 2030.
Smitthi Harueanphuech, chief nature-based solutions officer at the Mae Fah Luang Foundation, highlighted the significance of WHA’s work: “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.” Pilot projects focused on soil enhancement and regenerative agriculture are already underway at WHA ESIE 3 and WHA Rayong 36, preparing the land for future planting and ecosystem restoration.
Commitment to Net-Zero Emissions
WHA’s sustainability journey also includes a strong commitment to achieving net-zero greenhouse gas emissions by 2050. As part of this overarching goal, the company aims to reduce its Scope 1 and Scope 2 emissions by 42% by 2030. Scope 1 emissions encompass direct emissions from company-controlled sources, while Scope 2 covers indirect emissions from purchased energy. By addressing both, WHA is actively managing its immediate carbon footprint while laying the groundwork for more profound reductions in the future.
To guide its comprehensive sustainability efforts, WHA has outlined five key strategies: environmental stewardship, social empowerment, responsible governance and innovation, leadership for the green economy, and acting as an enabler for a sustainable Thailand. These strategies underscore WHA’s mission to “shape the future” by demonstrating how industrial developers can play a transformative role in advancing sustainability, turning industrial estates from potential environmental burdens into centers of innovation and ecological responsibility.
While acknowledging the inherent challenges, WHA’s dedication to investing in long-term, sustainable solutions signals a new, promising era for Thailand’s industrial sector.
