DRIVING BUSINESS TOWARDS SUSTAINABILITY GC’s business direction focuses on creating and retaining competitiveness. We stand ready to expand our business to the international level which will contribute to the achievement of our sustainability. Such efforts are in accordance with the “Step Up” strategy and are based on finding a balance between three aspects, namely economy, society and environment. This strategy is applied to all activities throughout our supply chain with special emphasis on circular economy and decarbonization in order to attain sustainability leadership. SUSTAINABILITY MANAGEMENT POLICY AND GOALS GC continues to pursue our aspiration “To be a leading Global Chemical Company for Better Living”. We fully support the United Nations Sustainable Development Goals (UN SDGs) and apply them to all company activities through the following strategies: Strategy 1 Managing Climate Change with Circular Economy This strategy stresses on the integration of resource efficiency and effective waste management. This is coupled with the management of our portfolio towards low-carbon businesses and the establishment of cooperation with stakeholders across the supply chain to facilitate the utilization of low-carbon products. It also includes the creation of product circularity to curb greenhouse gas emissions and reduce used plastic waste while heading towards the goal to attain net zero emissions for scopes 1 and 2. Meanwhile, the strategy aims to build cooperation with suppliers and customers to cut down scope 3 emissions by 50 percent within 2050. Strategy 2 Decarbonization via Compensation To support the Net Zero Goal, the remaining amount of carbon emissions is offset with the Carbon Capture: Utilization and Storage (CCUS), which is a highly efficient carbon storage technology with competitive cost, and nature-based solutions, such as forestation, reforestation, etc. Our actions towards the Net Zero Goal using Strategies 1 and 2 are implemented under the Low Carbon Transition Framework: Efficiency-Driven: Enhancing process efficiency, shifting to renewable energy or low-carbon energy, and developing and applying new low-carbon technology in the production process in order to reduce greenhouse gas emissions with more efficiency. Portfolio-Driven: Adjusting portfolio towards low-carbon businesses, such as High Value Business (HVB) and Green Chemical Business. GC also focuses on development of High Value Plastic (HVP) products and promotes the application of low-carbon products. Investing in a new portfolio with lower greenhouse gas emissions index will enable the company to retain our competitiveness and grow continuously without producing significant impact on the net greenhouse gas emissions. It also allows customers to benefit from our low-carbon products. Additionally, product circularity is also implemented to reintroduce used plastics into recycling and upcycling processes. Compensation-Driven: Using high performance carbon capture technology as well as compensation through nature-based solutions such as afforestation, reforestation, etc. Strategy 3 Leadership To become the leader in sustainability development, GC integrates Environmental, Social and Governance dimension (ESG) into the company business practices and expanding the results of such efforts to relevant stakeholders. Details are as follows: Environmental: Focus on complying with the Decarbonization Roadmap to achieve Net Zero Goal in 2050. Social: Emphasize on continuously creating value for a sustainable society by increasing the proportion of Social Enterprise (SE) and Creating Shared Value (CSV). This also includes combining such efforts into projects on circularity and forestation under the Decarbonization Roadmap. Furthermore, 88 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
RkJQdWJsaXNoZXIy ODg4NTI=