GC Tops S&P Global ESG Scores, Ranks No.1 Among 355 Chemical Companies

BANGKOK, THAILAND – 14 March 2024 – Dr. Kongkrapan Intarajang, CEO and President of PTT Global Chemical Public Company Limited or GC, revealed that GC has been ranked in the global sustainable company with a Top 1% S&P Global ESG Score, securing the No. 1 with the highest score among over 355 companies in the global chemicals sector. This reinforces the company’s reputation as a global sustainability leader.

Dr. Kongkrapan

Dr. Kongkrapan Intarajang, CEO and President of GC

GC has set a strategy to become a low-carbon organization, with the goal of achieving Net Zero by 2050. This aligns with the Paris Agreement under the United Nations Framework Convention on Climate Change. The approach is executed through three clear and measurable core strategies.

Efficiency-driven: Enhancing efficiency and reducing energy use while increasing the proportion of environmentally friendly renewable energy. In 2023, there were a total of 194 energy conservation projects, reducing energy consumption by over 1.84 million gigajoules.
Portfolio-driven: Restructuring the business towards low-carbon businesses and aligning with bio-based products and circular economy principles (Bio & Circularity Business). This includes ENVICCO, the first high-quality, food-grade recycled plastic resin manufacturing plant in Thailand certified by the Thailand Food and Drug Administration (FDA), the U.S. Food and Drug Administration (US FDA), and the European Food Safety Authority (EFSA). This effort can reduce plastic waste in Thailand by more than 60,000 tons per year, reducing greenhouse gas emissions by 75,000 tons of carbon dioxide equivalent.

Compensation-driven: Forestation of terrestrial and mangrove forests for carbon absorption from nature and ecosystem restoration has been ongoing for over 10 years (2013-present). This is in collaboration with government agencies, trading partners, business partners, and allies, from upstream to downstream, to foster positive biodiversity conservation. Additionally, agricultural products help create jobs and income for the community.

GC is committed to operating business under the principles of Environmental, Social, Governance, and Economic (ESG) balance, focusing on promoting sustainability throughout the business chain. The company extends collaboration to all sectors to facilitate a tangible transition towards sustainability nationally and globally. GC is always mindful that as global citizens, the company has a responsibility to care for and create a sustainable balance for all lives, aiming to pass on a better world to future generations.

“The Sustainability Yearbook” is a ranking of sustainable companies based on global sustainability assessments by S&P Global. In 2024, over 9,400 companies worldwide participated in the evaluation, with only 759 companies achieving the scores necessary to be included as Yearbook Members across 62 industry sectors. S&P Global is considered an index that evaluates the performance of companies in line with leading global standards for sustainable development, ensuring that companies manage all aspects according to ESG principles. This enables them to generate sustainable returns for investors and create long-term value for stakeholders. The results of this assessment are also used in the consideration for membership in the global sustainability index, the Dow Jones Sustainability Indices (DJSI). GC is a member of the DJSI World Index, achieving the world’s No. 1 ranking in the chemicals sector for five consecutive years.

Leave a Reply

Your email address will not be published. Required fields are marked *