The Circular Economy: A Sustainability Journey at PTTGC
PTT Global Chemical (PTTGC) aims to become the company of choice for our stakeholders, so we place considerable emphasis on sustainability practices. Sustainability is a core business priority for PTTGC and an integral part of our corporate strategy.
Adapting the principles of the “Circular Economy” is the foundation for our sustainability efforts. Society has traditionally been dominated by a linear economy of making, using, and disposing of products. Now, there is a clear global shift to the circular economy as the preferred alternative.
The circular economy is a regenerative system in which products and services are traded in closed loops or ‘cycles’ to cut down the demand for resources. With a circular economy, the initial use of resources is reduced as much as possible. Resources in actual use are carefully managed and extended to extract their maximum value. Once these resources reach the end of their useful life, they are recovered and regenerated for further use. This approach encourages sustainability while reducing environmental impacts.
As part of our commitment to sustainability, PTTGC is integrating the circular economy concept into our company in three ways:
Implementing a Circular Business Model
To implement a circular business model, PTTGC conducts process optimization as well as uses raw materials in the most efficient and responsible manner. The company is fully committed to the 5Rs: Reduce – Reuse – Repair – Recycle – Reject.
Establishing Circular Systems
PTTGC is focused on developing solutions with better ecological performance over the lifecycle of plastic products in our value chain. We are also relying more on strategic alliances for improved collaboration. One example is the Upcycling the Oceans, Thailand project, which restores natural marine resources by collecting plastic waste from the sea and upcycling it into fabrics and fashionable items.
Developing Circular Solutions
Our research & development teams, business unit product developers, and marketers follow our Product Stewardship Framework to implement eco-design principles.
PTTGC is strategically focused on the circular economy throughout our value chain, from initial design to end use. We aim for the highest efficiency in the use of all our products.