Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Certified ISO 14001:2015 for Environmental Management Systems
• Developed a carbon management plan including monitoring, reporting, and verification (MRV)
• Reduced electricity costs by 1,739.96 KWH (1,040.34 MtCO2e) through solar power
• Improved water use efficiency through reduction, reuse, and recycling measures
• Established waste disposal regulations and implemented 5S and Big Cleaning Day activities
• Supported Care the Wild: Plant & Protect forest planting project

Social Achievements

• Complied with the Promotion and Development of the Quality of Life of Persons with Disabilities Act 2007
• Established a Welfare Committee to oversee employee welfare, including provident funds and health insurance
• Provided 24 training/seminars courses totaling 3,312 hours for 565 employees
• Established a “Prevent and Stop Violence in the workplace” Policy
• Organized CSR activities such as building a walkway roof at Ban Thonglang School and supporting Wat Pa Sadao temple repairs
• Participated in the Thai Labor Standard (TLS) Project

Governance Achievements

• Received an excellent corporate governance assessment (5 stars) for 2022
• Established clear leadership roles and responsibilities for the Board of Directors
• Implemented a comprehensive risk management system
• Established an anti-corruption policy
• Improved transparency through regular reporting and stakeholder engagement
• Complied with the CG Code (with minor exceptions noted in the report)

Climate Goals & Targets

Environmental Challenges

• Revenue fluctuation from project-based operations
• Customer concentration
• Dependency on large projects
• Foreign exchange risk
• Project cost overruns
• Risk of labor shortage
• Risk of steel price fluctuation
• Risk of non-renewal of land lease agreement for Sattahip Workshops and Yards
• Expiry of tax benefits from investment promotion certificates
• Impact of the COVID-19 pandemic

Mitigation Strategies

• Proactive customer base expansion and new business opportunities
• Diversification of customer base into various industries and regions
• Pre-project screening of customers
• Contractual pricing accommodating currency rate changes and forward transactions
• Efficient cost control systems and stringent quality control
• Effective labor management and recruitment through multiple labor agents
• Steel purchase agreements fixing steel price per unit
• Continuous negotiation and good tenant relationship with Sattahip Commercial Port
• Transfer of investment promotion certificate to Best Tech
• Infection prevention measures for employees and customers

Supply Chain Management

Responsible Procurement

• Selection of vendors considering quality, safety, environment, and occupational health
• Preference for service providers with human rights and environmental considerations
• Use of green label products

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SET's reporting framework

Certifications: ISO 9001:2015, ISO 14001:2015, ASME U Stamp, ASME PP Stamp, ASME S Stamp, National Board R, ASME U2 Stamp, EN 1090-1:2009 +A1:2011, DIN EN ISO 3834-2, JIS-H Grade

Third-party Assurance: EY Office Limited

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Greenhouse gas emissions decreased from 2022 due to reduced production activities. In 2023, Best Tech & Engineering Ltd. established a "Greenhouse Gas Management Policy" and appointed a working team.
• Cost of electricity saved from solar was 1,277.20 KWH, or 764.53 Mtco2e.
• ISO 14001:2015 certified.

Social Achievements

• No significant labor disputes in 2023.
• 774 employees attended 21 training/seminars courses (4,579 hours).
• Established "Prevent and Stop Violence in the workplace Policy."
• Received a customer satisfaction assessment of 38.0 (out of 40).

Governance Achievements

• Received an excellent corporate governance assessment for 2023 (5 stars).
• The Audit Committee held 4 meetings in 2023.
• The Nomination & Remuneration and Good Governance Committee held 4 meetings in 2023.

Climate Goals & Targets

Environmental Challenges

• 2023 economic stagnation and high interest rates significantly impacted the construction sector, leading to intense competition and higher operation costs.
• Liquidity challenges due to inability to collect payments from customers.
• Negotiations for debt repayment waivers with financial institutions and trade creditors.
• Material uncertainty related to going concern due to the global and domestic economic downturn.
• Significant accumulated losses.

Mitigation Strategies

• Adjusted business strategies, including exploring new clients, attending international and domestic biddings, adjusting the organization chart, reducing labor force, shrinking rented space, and selling unnecessary assets.
• Implementing various measures to modify business plans, seek additional sources of funds, negotiate with business partners and financial institutions to extend debt payment settlement periods, and reduce expenses to manage liquidity and cash flows.
• Negotiating for debt repayment waivers and installments with creditors.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Selecting quality vendors/subcontractors; considering quality, safety, environment, and occupational health; choosing service providers that consider risk reduction caused by toxic waste disposal mistakes; hiring service providers that take human rights into account.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SET's reporting framework

Certifications: ISO 9001:2015, ISO 14001:2015, EN 1090-1:2009, DIN EN ISO 3834-2, ASME R STAMP, ASME PP STAMP, ASME S STAMP, ASME U STAMP, ASME U2 STAMP, National Board R

Third-party Assurance: EY Office Limited

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed