Definition and goal

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Definition and Goals

Thaioil aims for sustainable growth and long-term persistence, operational excellence, as well as a focus on economic development coupled with social responsibility and environmental protection to create values for all stakeholders.

 

Goals

To achieve the corporate vision "Empowering human life through sustainable energy and chemicals",
Thaioil Group has set a sustainability goal to become a 100-year organization and a global sustainability leader
in the international level through Environment, Society and Governance (ESG) management that create long-term
value to the stakeholders across the business value chain and respond to the national policies and global trends.

In 2023, Thaioil Group has reviewed the sustainability strategies which aligned with the systematically advocate
business strategies to properly manage ESG risks. The details of the Company’s sustainability strategic directions
are as follows:

Sustainability
Dimension

E: Environment

S: Society

G: Governance

Strategy

Enhance Clean Environment
Enhancing environmental management in line with
global trends

Engage Society
Engaging with community and society to build long-term social value creation

Ensure Good Governance
Ensuring trust in corporate governance and transparency
within the organization

Target

Net Zero GHG Reduction:

Reduce greenhouse gas emissions by 15% in 2035 from the base year of 2026 to achieve the Carbon
Neutrality in 2050 and Net Zero GHG Emissions target in 2060 through the implementation of Net Zero GHG Emissions.

Creating Social Value:
Develop quality of life to the
society in alignment with the company's strategic direction
to become petrochemical and innovative business and
contribute to net zero
greenhouse gas emissions

Zero Case of Non-Compliance
and Fraud Incidents:
No cases of non-compliance
with laws, regulations, and the Company’s code of conduct

Strengthen Community Engagement:
Maintain community engagement score at 90 percent or above

Good Governance Recognition:
Being a recognized organization
for good corporate governance

 

Nature-based Solution:
Support zero greenhouse
gas emissions target through the forest conservation, reforestation, and
afforestation initiatives

 

Update : February 2024