Thai Plaspac Public Company Limited
Climate Impact & Sustainability Data (2021, 2022-07 to 2022-09, 2023, Q2 2020)
Reporting Period: 2021
Environmental Metrics
Waste Generated:335,830 kg/year
ESG Focus Areas
- Environmental sustainability
- Social responsibility
- Good corporate governance
Environmental Achievements
- Launched numerous projects using rPET for the personal care segment in 2021
- Converted packaging from less sustainable plastics such as Polystyrene into PET
- Reduced waste volume to 335,830 kilograms in 2021
- TPAC Packaging India Private Limited commissioned its 1120 KVH Roof Top Solar at 3 manufacturing locations and achieved generation of 0.3 mn units for the quarter Q4’21. This is equivalent to saving of 246 Ton Co2 or 11,300 Trees.
Social Achievements
- Employee turnover rate decreased to 1.7% in 2021
- Provided employee training totaling 306 hours
- Offered scholarships to employees’ children
- Donated THB 25,000 to Baanphrapradaeng Home for Protection & development for Persons with Disabilities
Governance Achievements
- Achieved a “Very good - 4 Star” CG Score in the practice of Corporate Governance of Thai Listed Companies
- Consecutive upgrades to CG rating from '17 to '20, reaching a 4-star (Very Good) rating.
- Established an executive Risk Management Committee
- Implemented a Whistleblower Policy
Climate Goals & Targets
Environmental Challenges
- Raw material price risk (polyolefins)
- Business operation risk
- Security of property risk
- Overstocking of inventory risk
- Foreign exchange risk
- Interest rate risk
- Corruption risk
- Merger & Acquisition risk
- Customer perception in plastic risk
Mitigation Strategies
- Negotiated with customers for price adjustments based on polyolefins price movements
- Sourced polyolefins from multiple domestic suppliers
- Obtained all-risk insurance coverage
- Implemented management information systems for inventory control
- Utilized forward exchange contracts
- Forecasted market interest rate trends
- Established an audit committee, internal auditor, and external auditor
- Comprehensive due diligence on acquisition targets
- Worked with customers to develop recyclable products
Supply Chain Management
Responsible Procurement
- Selecting suppliers through a bidding process with at least 3 companies
Climate-Related Risks & Opportunities
Sustainable Products & Innovation
- rPET projects
- Conversion of Polystyrene to PET packaging
Reporting Period: 2022-07 to 2022-09
Environmental Metrics
ESG Focus Areas
- Sustainability
- Renewable Energy
- CO2 emissions
Environmental Achievements
- Initiated a rooftop Solar Project in Malaysia expected to generate ~1,500 MWh of electricity per annum, sufficing ~8% of existing requirement.
Social Achievements
- Opened new Bangkok corporate headquarters to attract top talent.
- Showcased portfolio at CPHI (Korea) and FHA (Singapore) exhibitions, leading to multiple inquiries.
Governance Achievements
- Maintained a Very Good level (4 Stars) CG rating with 88% score from the Thai Institute of Directors (IOD).
Climate Goals & Targets
Environmental Challenges
- Slight decline in India business volumes due to seasonality and regulatory changes.
- Cost escalations in the first half of the year.
Mitigation Strategies
- Management passed through some cost escalations to customers.
- Aggressive cost optimization measures in Thailand.
- Price revisions targeted for India business in coming quarters.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:55,296 tCO2e/year
Scope 1 Emissions:387 tCO2e/year
Scope 2 Emissions:13,160 tCO2e/year
Scope 3 Emissions:41,749 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:27,003 MWh/year
Water Consumption:63,332 m3/year
Waste Generated:469.67 tons/year
Carbon Intensity:0.90 tCO2e/Ton of production
ESG Focus Areas
- Climate Change
- Water and Wastewater Management
- Operational Waste Management
- Air Pollution
- Energy Management
- Circular Economy
- Occupational Health and Safety
- Human Rights Practices
- Social & Community Relationship
- Labor Management
- Customer Relationship Management
- Product Quality & Safety
- Corporate Governance
- Risk and Crisis Management
- Supply Chain Management
- Innovation & Technology-Driven Solutions
- Cyber Security and Data Protection
Environmental Achievements
- Reduced total electricity consumption by 5.64% compared to 2022
- Reduced hazardous waste by 7.72% compared to 2022
- Reduced non-hazardous waste by 31.22% compared to 2022
- Reduced total water consumption by 11.98% compared to 2022
- Used 5.4 tons of Post Consumer Recycled resin (PCR)
- Achieved Green Industry Certificate Level 2 from Ministry of Industry
Social Achievements
- 0 work-related fatalities for employees and subcontractors
- Overall customer satisfaction rate of 92.5%
- Community satisfaction rate of 78.3%
- Employee satisfaction rate of 71%
- Employees engaged in 540 hours of training
- Launched Employee's Child Education Fund Project
Governance Achievements
- Received three stars for Corporate Governance Report of Thai Listed Companies from THAI IOD
- Received AGM Level 5 for its Annual General Meeting, signifying high standards in corporate governance
- Engaged with the Private Sector Thai Collective Action Against Corruption (Thai CAC)
- Revised TPAC’s Anti-Corruption Policy
Climate Goals & Targets
Long-term Goals:
- Carbon Neutrality by 2050
- Net Zero Emissions for scope 1 and 2 by 2065
Medium-term Goals:
- Solar power all plants within group by 2025
Short-term Goals:
- Reduce energy consumption by 2% compared to 2023
- Reduce greenhouse gas emissions Scope 1 by 2% compared to 2023
- Reduce greenhouse gas emissions Scope 2 by 2% compared to 2023
- Decrease water consumption by 1% compared to 2023
- Reduce production waste by 5% compared to 2023
- Develop an environmentally friendly product (3 projects)
- Reduce the amount of industrial non-hazardous waste by 3% compared with 2023
- Reduce the amount of industrial hazardous waste by 3% compared with 2023
- Control the amount of nitrogen dioxide emissions not to exceed the standard value of 5 ppm
- Control the amount of sulfur dioxide emissions not to exceed the standard value of 5 ppm
- Control the amount of particulate matter not to exceed the standard value of 15 mg/m3
- The Lost Time Injury frequency rate (LTIFR) per 1 million hours worked is less than 0.79
- Community Satisfaction rate is more than 80%
- Customer Satisfaction rate more than 90%
- Environmentally friendly product development projects with customers (3 projects)
- 100% of employees are trained in Human Rights practices
- No complaint issues or human rights violations from internal and external
- Employee turnover rate is less than or equal to 3%
- The average of training hours for employees is more than 10 hours per person
- Employee engagement level is 75%
- No complaints from customers of violating quality and safety of products in compliance with the related law and regulation
- All personnel are trained about risk culture
- At least 80% of suppliers acknowledge/accept the Supplier Code of Conduct
- Conduct on-site audits for 3 suppliers
- 100% of employees have received communication on the organization’s anti-corruption policies and procedures
- 100% our project/innovations will be environment friendly projects
Environmental Challenges
- Climate change impacts on operations
- Raw material price fluctuations
- Operational risks in processes, inventory, and corruption
- Financial risks concerning property, foreign exchange, interest rates, and M&A activities
- Compliance risks over laws and regulations
- ESG risks around customer perception of plastics
Mitigation Strategies
- Environmental policies
- Supplier management
- System enhancements
- Insurance
- Hedging
- Due diligence
- Regulatory monitoring
- Sustainable product development initiatives aligned with circular economy trends
Supply Chain Management
Supplier Audits: 3/year
Responsible Procurement
- Fair procurement processes
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Physical Risks
- Severe global climate change crisis
Transition Risks
- Customer shifts towards environmental consciousness
- New policies for emissions reduction
Opportunities
- Environmentally responsible business operations
- Eco-friendly product development
- Energy-saving investments like solar power
- Initiatives to reduce greenhouse gases, water, and energy consumption
Reporting Standards
Frameworks Used: GRI Standards
Certifications: Green Industry Certificate Level 2, ISO 9001:2015, FSSC 22000, ISO 22000:2018, Codex HACCP and GHPs, Thai Industrial Standards (TIS)
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- SDG 3
- SDG 4
- SDG 5
- SDG 6
- SDG 7
- SDG 8
- SDG 9
- SDG 10
- SDG 11
- SDG 12
- SDG 13
- SDG 16
- SDG 17
Not disclosed
Sustainable Products & Innovation
- Products made from recycled rPET, rPP & rHDPE, Bio-PP, and chemically recycled materials
- UV printing ink washable for PET bottles
Awards & Recognition
- Green Industry Certificate Level 2
- Three stars for Corporate Governance Report of Thai Listed Companies from THAI IOD
- AGM Level 5
Reporting Period: Q2 2020
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Sustainability
Environmental Achievements
- Our packaging solutions are all recyclable and / or made from recycled material.
Social Achievements
- Not disclosed
Governance Achievements
- 2 consecutive Corporate Governance upgrades to 3* and then to 4*.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- There will be winners and losers from sustainability push.
Mitigation Strategies
- TPAC portfolio consists of only recyclable or already recycled raw materials, well positioned for future.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed