Performance Highlight
Performance Highlight
" Thaioil Group focuses on economic, social
and environmental development for sustainable growth "
Maintaining transparency in demonstrating its performance through appropriate reporting and monitoring against the targets is the key for Thaioil business to increase stakeholders’ and customers’ trust. As materiality assessment, Thaioil has set the long term target of the top three material issues which have greatest impacts on our business and the creation of long-term value as follows.
| Materia Issues |
|
Net Zero GHG Emissions | Health and Safety |
| Long term value | Thaioil Group’s strategy focuses on business expansion from the petroleum business to other businesses in both domestic and international markets such as the petrochemical and power businesses. For this reason, the Company needs high-potential human capital to prepare for steering both the current businesses and new businesses in the future. This will enable the Company to maintain competitive workforce in amidst of future business expansion and future challenges, while drive towards sustainable growth | The climate change topic has received strong attention from the stakeholders. Noticeably, social movement has increased among the civil sector, investors, and other agencies. Such stakeholders have expectations towards oil and gas businesses to tackle the climate-related risks. The Company has acknowledged the importance of the future business directions towards clean energy businesses and the low-carbon economy, process optimization for maximum efficiency, and determining tangible strategies as well as setting long-term targets in line with the national targets. | Thaioil Group has committed to establishing the foundation of management systems for personal safety and process safety to enhance operational reliability and protect human assets. In relation to the business plan, Thaioil Group is now expanding the production capacity through several projects, such as the Clean Fuel Project (CFP), of which is now under the construction therefore this had led to some challenges that require the Company to increase safety control measures to ensure business continuity without severe incidents that lead to business disruption and increase trust from surrounding communities and stakeholders. |
| Long-term Target | Human Capital Index (HCI) at 90 score by 2030 | • Reduce 15% of GHG emission by 2035 compared with the base year in 2026 • Carbon neutrality by 2050 • Net zero GHG emission by 2060 |
• Total recordable work-related injury rate (TRIR) for all workers (employees and contractors) less than 0.10 cases per million hours worked by 2030 • Safety Maturity Level at Level 4.5 by 2030 |
| Target 2023 | Human Capital Index at no less than 80 score | GHG emissions (Scopes 1 and 2) less than 3,530,000 tons of carbon dioxide equivalent (tCO2e) | Total recordable work-related injury rate (TRIR) for all workers (employees and contractors) within Top the 10% of companies in oil and gas industry by the International Association of Oil & Gas Producers (IOGP) criteria. |
| Performance 2023 | Human Capital Index (HCI) at 83 score | Emitted GHG emissions (Scopes 1 and 2) 3,380,000 tons of carbon dioxide equivalent (tCO2e) | Thaioil Group’s Total Recordable Injury Frequency Rate (TRIR) of employees and contractors was on par within the Top 10% of companies in oil and gas industry by the International Association of Oil & Gas Producers (IOGP) criteria. |
Update : February 2024
