Nowadays, the world is experiencing a significant loss of biodiversity. Massive climate changes and human activities have continuously accelerated the decline in the quantity and variety of plants and animals, impacting High-Biodiversity Wilderness Areas. These situations pose significant challenges to Thaioil Group, as the Company must operate the business in line with biodiversity agreements and prevent biodiversity loss on land, in water, and through deforestation. Recognized the significant impacts on biodiversity and impact on the business operation of Thaioil Group, the Company has not only established has not only determined strong commitments and targets on biodiversity but has also conducted a biodiversity risk assessment, developed an action plan, and implementation to achieve the target. Moreover, Thaioil Group strives to create partnership networks with several sectors, including the educational institutions, communities, and government agencies, to collaboratively prevent and restore biodiversity in both terrestrial and aquatic ecosystems.

Commitment

Thaioil Group is committed to conduct business with responsibility for society, environment, biodiversity, and ecosystem preservation. The Company has integrated the environmental impact assessment on biodiversity and forest areas into the business operations. The commitment is to avoid and reduce potential risks while supporting sustainable development in all dimensions: economic, environmental, and social dimensions. The Company has committed to No Net Deforestation by implementing reforestation and tree planting to compensate for any loss of forest from the business activities. Furthermore, this commitment ensures that the Company has controlled and minimized environmental impacts and drives the business towards No Net Loss (NNL) of terrestrial and aquatic biodiversity. Thaioil Group recognizes the invaluable nature of biodiversity as a shared resource and strives to contribute to its preservation for the benefit of all.

In 2023, Thaioil Group elevated the policy commitment in “Thaioil and Subsidiaries’ Quality, Security, Safety, Occupational Health, Environment, and Energy Management Policy” and “Thaioil and Subsidiaries’ Biodiversity Statement”  through the approval of the Board of Directors to consistently drive the most efficient environmental management practices.

Click Here Thaioil and Subsidiaries’ Quality, Security, Safety, Occupational Health, Environment, And Energy Management Policy

Click Here  Thaioil and Subsidiaries’ Biodiversity Statement 

Management Approach

Thaioil Group has applied the Biodiversity and Ecosystem Service Manual that had been reviewed together with PTT Group Biodiversity and Ecosystem Service. This manual was developed from the integration of various national and international standards such as the Thailand’s Master Plan for Integrated Biodiversity Management, the GRI Standard, IPIECA, and others. The Company uses this manual to perform a biodiversity risk assessment within business operations. In addition, the Company commits to No Net Deforestation by implementing reforestation and tree planting to compensate for any forest loss from our business activities and drives the business towards No Net Loss (NNL) of terrestrial and aquatic biodiversity.

Biodiversity Risk Assessment 

Thaioil Group has adopted the PTT biodiversity risks assessment tool, which has been developed in alignment with the GRI Reporting Protocol. The tool has determined the procedure and guidelines for assessing biodiversity and ecosystems risks. To conduct the assessment, the Company has utilized reliable data from various sources, including the Integrated Biodiversity Assessment Tool (IBAT) and Protected Planet. 

Click Here  Biodiversity Risk Assessment Process

In 2023, the biodiversity risk assessment results revealed that the business operational areas are located outside the High-Biodiversity Wilderness Areas. Therefore, the risk is low because the distance between business operational areas and High-Biodiversity Wilderness Areas exceeds 5 kilometers. The biodiversity assessment results for Thaioil Group are illustrated in the table below: 

Remark: Thaioil Group’s operational site covers TOP, TLB, TPX, LABIX, TOPSPP in Si Racha District Chonburi Province

Mitigation Hierarchy

Thaioil Group has adopted the PTT Group Biodiversity and Ecosystem Service Manual to manage biodiversity and ecosystem services and conduct biodiversity risk assessments. The Company also applies the Mitigation Hierarchy Principle to prevent, avoid, mitigate, restore, and offset for environmental impacts on biodiversity throughout the value chain.

The Participation Network on Biodiversity to mitigate impacts on ecosystem

Key Highlighted Performances

Performances 2023

In 2023, Thaioil Group implemented biodiversity projects as follows:

Update : February 2024