Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Governance
• Business Ethics and Anti-Corruption
• Risk Management
• Customer Relationship Management
• Supply Chain Management
• Reliable Production and Availability
• Innovation
• Environmental Management and Resources Efficiency
• Climate Change and Energy Management
• Biodiversity
• Employee Readiness and Well-Being
• Human Rights
• Occupational Health and Safety and Well-Being
• Sustainable Community

Environmental Achievements

• Achieved zero waste to landfill.
• Reduced GHG emissions by 227,000 TonCO2e per year.
• Reduced energy consumption at three cogeneration plants resulting in cost savings.
• Reused, reduced, and recycled 55.90% of total water use (4,582,002.35 m³).

Social Achievements

• Employee engagement increased to 57%.
• Zero complaints related to human rights violations.
• Achieved six consecutive years (2013-2018) of zero Lost Time Injury Frequency (LTIF) and zero Total Recordable Injury Rate (TRIR).
• Invested more than THB 29.7 million in community and social development projects (0.94% of net profit).

Governance Achievements

• Received an “Excellent” level for the Corporate Governance Report (CGR) of Thai Listed Companies.
• Received the ASEAN Corporate Governance Awards (Top 50 ASEAN PLCs).
• Maintained the 5-Star certificate of Thailand’s Private Sector Collective Action Coalition Against Corruption (CAC).

Climate Goals & Targets

Environmental Challenges

• Rapid digital technology transformation.
• Ever-changing consumer behaviors.
• Increased demands for clean energy.
• Climate change risks (extreme weather, regulatory changes, market shifts).
• Disruptive technology risks.

Mitigation Strategies

• Potential risk and impact management strategies (short-term and long-term).
• Expanded organization to include Product and Technology Development Department and New Business Strategic and Project Management Office (PMO).
• Environmental Impact Assessment (EIA) for new projects.
• Investment in renewable energy.
• Participation in Thailand Voluntary Emission Reduction Program (T-VER).
• Energy conservation programs.
• Risk management training for employees and contractors.
• Risk management standard relating to Anti-Corruption.

Supply Chain Management

Supplier Audits: 8 Tier 1 suppliers received ESG audits in 2018.

Responsible Procurement

• Supplier Sustainable Code of Conduct
• ESG audits
• Sustainable procurement and supplier management policy

Climate-Related Risks & Opportunities

Physical Risks

• Storms, floods, drought

Transition Risks

• Government's enforcement of greenhouse gas emission reduction policy

Opportunities

• Investment in renewable energy
• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001:2015, ISO 45001:2018, TIS/OHSAS 18001

Third-party Assurance: KPMG Phoomchai Audit Limited (limited assurance)

UN Sustainable Development Goals

• Goal 7: Affordable and Clean Energy
• Goal 8: Decent Work and Economic Growth
• Goal 9: Industry, Innovation and Infrastructure
• Goal 12: Responsible Consumption and Production
• Goal 13: Climate Action
• Goal 16: Peace, Justice and Strong Institutions

GPSC's initiatives contribute to these goals through renewable energy investments, employee well-being programs, community development projects, and responsible resource management.

Sustainable Products & Innovation

• Lithium-ion batteries
• Energy storage systems

Awards & Recognition

• Green Industry Award Level 4
• 3Rs Award
• Zero Waste to Landfill Award
• Top Innovative Organization 2018
• Most Innovative Power Company 2018
• CFO Innovation Awards
• ASEAN Corporate Governance Awards

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Reduced GHG emissions intensity by 0.039 tCO2e/MWh from 0.435 tCO2e/MWh in 2020 to 0.396 tCO2e/MWh in 2021

Governance Achievements

• Fully integrated TCFD framework to address climate risks and opportunities

Climate Goals & Targets

Environmental Challenges

• Physical risks including floods, drought, lightning strikes, and tropical storms, and rises in temperature.
• Transition risks including changes in policies, laws, requirements, technological shifts, and consumers’ behavioral shift.
• Increased stakeholder concern and negative feedback regarding GHG emissions from fossil fuels.
• Increased technological competition.
• Changing customer behavior towards lower-emission electricity generation.
• Changes in climate-related regulations, including potential carbon taxes and cap-and-trade schemes.

Mitigation Strategies

• Formulated climate change strategies embracing GHG reduction and future handling.
• Developed adaptation plans for physical risks (e.g., backup procedures, lightning protection, flood barriers, water management plans).
• Investing in low-carbon products and technologies (e.g., CCS, blue/green hydrogen, renewable energy).
• Business model transformation to diversify and adapt to changing customer preferences.
• Compliance with regulations and participation in initiatives like Environment Attribution Certificates (EAC).

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Floods
• Droughts
• Lightning strikes
• Tropical storms
• Increased mean temperature

Transition Risks

• Changes in policies and regulations
• Technological shifts
• Changing customer behavior
• Increased technological competition

Opportunities

• Enhance business adaptation and resiliency
• Scale up renewable power
• Diversify business
• Adopt new technologies (e.g., CCS, blue/green hydrogen)
• Participate in EAC

Reporting Standards

Frameworks Used: TCFD

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Increased renewable energy capacity by 45.45% in 2023, reaching 4,884 MW (52% of overall capacity)
• Reduced GHG emission intensity by achieving 0.380 tCO2e/MWh in 2023

Social Achievements

• Not disclosed

Governance Achievements

• Established a comprehensive climate framework encompassing climate-related risk and opportunity integration into risk management, measurable metrics and targets, a well-defined strategy, and strong governance processes.
• Voluntarily adopted the IFRS S2 standard for climate-related disclosures, integrating TCFD recommendations and SASB Standards.

Climate Goals & Targets

Environmental Challenges

• Water stress, drought, and extreme heat significantly impacting cogeneration, coal, solar, and waste-to-energy power plants, particularly in Rayong and Chonburi.
• Mandatory carbon pricing posing a significant risk to cogeneration power plants due to high GHG emissions.
• Technological modernization and operational risks impacting cogeneration plants due to shifting market demands for efficiency and environmental standards.

Mitigation Strategies

• Implementing a multi-pronged management approach for water security, including redundancy in water supply, backup electricity, alternative water sources, and long-term solutions like water storage ponds.
• Expanding renewable energy generation capacity to meet growing demand for clean energy and leveraging this transition by certifying Renewable Energy Certificates (RECs).
• Diversifying revenue streams by adapting the business model to offer a wider range of products and services.
• Exploring the installation of solar floating systems and conducting a feasibility study on implementing a smart grid.
• Allocating budget towards renewable energy expansion, setting an internal carbon price, and reducing greenhouse gas intensity.
• Investing in CO2-saving initiatives, participating in the Thailand Voluntary Emission Reduction Program (T-VER), decarbonizing business through renewable energy expansion, and implementing an internal carbon price.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme heat
• Water stress
• Drought

Transition Risks

• Mandatory carbon pricing
• Technological modernization and operational risks
• Demand change

Opportunities

• Policy change, incentives, and carbon market
• Enabling clean energy technologies
• Technology innovation and integration with other renewables

Reporting Standards

Frameworks Used: IFRS S2, TCFD, SASB

Certifications: Null

Third-party Assurance: Third-party experts (for GHG emissions data)

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 13 (Climate Action)

Initiatives such as renewable energy expansion, GHG emission reduction, and participation in the T-VER program contribute to these goals.

Sustainable Products & Innovation

• Green hydrogen for steel production
• Solar floating systems

Awards & Recognition

• Not disclosed