CROSSROADS Maldives: Singha Estate Pioneers Environmental Success with 'UN Ocean Decade Regional Project Model' for Sustainable Development

10 Jul 2024

Singha Estate Public Company Limited (SET:S), a leading conglomerate in real estate investment and development, operating both in Thailand and internationally, emphasizes its vision and success philosophy of "Go Beyond Dreams" through its strategic approach "Go Exceed, Go Exist", aimed at sustainable growth across all dimensions: community, society, and environment. Recently, Singha Estate's CROSSROADS Maldives project by S Hotels and Resorts PCL (SET: SHR), an entity under Singha Estate's umbrella, has underscored its environmental success by being recognized as a pioneering 'sustainable marine resource utilization model " at the 2nd UN Ocean Decade Regional Conference and the 11th WESTPAC International Marine Science Conference, hosted by Thailand's Ministry of Natural Resources and Environment, Department of Marine and Coastal Resources, and the IOC/WESTPAC.

CROSSROADS Maldives: Singha Estate Pioneers Environmental Success with 'UN Ocean Decade Regional Project Model' for Sustainable Development

Mrs. Thitima Rungkwansiriroj, Chief Executive Officer of Singha Estate Public Company Limited (SET: S), highlighted: "The CROSSROADS Maldives project is a globally renowned, all-encompassing tourism destination managed by S Hotels and Resorts PCL (SHR) under Singha Estate. We prioritize maintaining a balance between business expansion and the preservation of nature and the environment in the region. This commitment embodies our core philosophy of 'Go Beyond Dreams' and is a pivotal strategy in sustainability through 'Go Exceed, Go Exist.' It underscores our dedication to 'Nature-Based Solutions,' ensuring the conservation of terrestrial and marine biodiversity and establishing a Key Biodiversity Area. This enhances credibility among stakeholders, including local communities and investors, while attracting eco-conscious customers and tourists. Ultimately, it transforms our environmental and biodiversity focus into significant business opportunities."

Currently, the CROSSROADS Maldives project is actively implementing the SINGHA Marine Conservation Area initiative, which aims to register as an Other Effective Area-Based Conservation Measure (OECMs). This initiative, supported by a Memorandum of Understanding (MOU) with the Ministry of Climate Change, Environment & Energy of the Republic of Maldives, covers a water area spanning 3.15 square kilometers, which constitutes 31.56% of the entire CROSSROADS Maldives project area. This marine zone is renowned for its rich biodiversity, including pristine coral reefs and rare marine species like dolphins, rays, and sea turtles. Many of these species are critically endangered according to the IUCN Red List. The conservation efforts focus on preventing, avoiding, mitigating, restoring, and compensating for environmental impacts, ensuring their long-term sustainability and growth in harmony with the environment.

Assist.Prof.Dr.Thon Thamrongnawasawat, Deputy Dean for Special Affairs, Faculty of Fisheries, Kasetsart University, stated: The current UN Ocean Decade Regional Conference is a collaboration of global experts, marking a pivotal effort to sustainably preserve the richness of our seas. It highlights Thailand's potential as a central hub and leader in marine science and oceanography in the Western Pacific region. Moreover, it aims to unite marine scientists, stressing the urgency and significance of expanding marine conservation efforts. It seeks to raise collective awareness about the diverse challenges facing our oceans and represents a crucial step forward in advancing marine science education and ensuring the long-term sustainability of marine and ocean resources.

"The importance of private sector collaboration is crucial, particularly in today's world where global expectations are rising rapidly. It goes beyond merely supporting scientific research and conservation efforts; it involves active engagement in genuine marine conservation. This includes fostering scientific knowledge and playing a pivotal role in global exploration, as well as collaborating with communities to ensure the sustainable preservation of local resources for the benefit of all future generations. This cooperative effort aims to achieve a harmonious coexistence between humanity and nature." Assist.Prof.Dr.Thon Thamrongnawasawat added.