Syntec Construction Public Company Limited
Climate Impact & Sustainability Data (2020, 2021, 2022, 2023)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Sustainable company growth
- Employee potential development
- Good corporate governance
- Partner relations
- Supply chain management
Environmental Achievements
- Reduced carbon dioxide emissions by 707 kilograms
- Reduced water usage by 27,040 liters
- Reduced fuel consumption by 1,456 liters
- Reduced energy usage by 4,160 kilowatts
- Recycled 1,040 kilograms of paper
Social Achievements
- Improved safety of living conditions in worker camps
- Improved waste management and sanitation in worker camps
- Provided child development activities in worker camps
- Supported 100% of children in worker camps to enroll in school
- Supported the Cerebral Palsy Sports Association of Thailand
Governance Achievements
- Received a full score of 100 from the Thai Investors Association for the quality assessment of the 2020 Annual General Meeting of Shareholders
- Received a five-star rating for corporate governance from the Thai Institute of Directors Association
- Renewed membership of Thailand's Private Sector Collective Action Coalition Against Corruption (CAC)
Climate Goals & Targets
- Not disclosed
- Not disclosed
- Not disclosed
Environmental Challenges
- Higher competition in the construction industry due to economic slowdown and COVID-19
- Risk of talent shortage
- Labor shortage
- Rising construction material costs
- Risk of inability to collect payments
- COVID-19 outbreak impacting operations and tourism-related businesses
Mitigation Strategies
- Bidding for jobs where the company has expertise and competitiveness
- Participating in construction bidding in both private and government sectors
- Continuously developing employee capabilities
- Offering competitive compensation and benefits
- Employing labor directly and relying on multiple subcontractors
- Strict customer selection policy
- Monitoring construction material prices and ordering in bulk
- Developing alternative sourcing strategies
- Implementing COVID-19 prevention measures
- Adjusting sales and marketing plans to focus on long-term stays and domestic travelers
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Fair and transparent supplier selection
- Sustainability assessment criteria applied to procurement
- Emphasis on fair labor practices and compliance with human rights principles
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Stock Exchange of Thailand criteria
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Goal 3: Good Health and Well-being
- Goal 16: Peace, Justice and Strong Institutions
Initiatives related to employee well-being, child development, and anti-corruption contribute to these goals
Sustainable Products & Innovation
- WOLF Approve software
- Syntec Work Life HR system
Awards & Recognition
- 2020 Sustainable Stocks
- Excellent Corporate Governance Score (5 stars)
- Quality Assessment of the Meeting of Shareholders (100 points)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Corporate Governance
- Health and safety
- Waste management and environmental impact
- Customer relationship management
- Relationship management with partners
Environmental Achievements
- Reduced electricity consumption by 8%
- Recycled 6,310 kg of paper
- Installed solar rooftop system at Bangtai Machinery and Plant Warehouse, reducing electricity consumption by 19%
Social Achievements
- Employed 21 people with disabilities
- Constructed 50 employee welfare rooms
- Achieved 85.82% employee satisfaction with training courses
- Maintained a lost-time injury rate (LTIR/LTIFR) of 0.01 accidents per million hours
Governance Achievements
- Received a full 100 points from the Thai Investors Association for AGM quality
- Achieved an "excellent" or five-star corporate governance rating from the Thai Institute of Directors Association
- Received Outstanding Investor Relations Awards 2021
Climate Goals & Targets
- Transition to a circular economy by 2030
- Reduce electricity consumption by 5%
Environmental Challenges
- Higher competition in the construction industry
- Risk from non-diversified work
- Talent shortage
- Labor shortage
- Rising wages
- Rising construction material costs
- Risk of being unable to charge
- Compliance risk from changes in rules and regulations
- Social and/or environmental risks from construction
- COVID-19 pandemic impact
Mitigation Strategies
- Bidding on projects within the company's expertise
- Diversifying into related businesses
- Continuously developing personnel and offering competitive compensation
- Directly employing workers and using multiple subcontractors
- Using new technologies to replace labor and managing construction costs
- Bulk ordering of materials and advance purchasing agreements
- Strict customer selection criteria
- Establishing guidelines and an agency to track changes in regulations
- Controlling pollution and building relationships with communities
- Implementing Business Continuity Planning (BCP) for COVID-19, providing worker support, and establishing a COVID-19 isolation center
Supply Chain Management
Supplier Audits: ESG Partner Self-Assessment conducted for 65 suppliers (100% passed evaluation criteria)
Responsible Procurement
- Supplier Code of Conduct for Sustainable Development
- Fair procurement process
- Diversified sourcing to reduce risk
Climate-Related Risks & Opportunities
Physical Risks
- Flooding affecting transportation of construction materials
Opportunities
- Promoting the use of renewable energy (solar panels)
Reporting Standards
Frameworks Used: GRI, SET guidelines
Certifications: ISO 9001:2008
UN Sustainable Development Goals
- Goal 1 (No Poverty)
- Goal 3 (Good Health and Well-being)
- Goal 8 (Decent Work and Economic Growth)
- Goal 13 (Climate Action)
- Goal 16 (Peace, Justice and Strong Institutions)
The company's initiatives contribute to these goals through various ESG practices.
Sustainable Products & Innovation
- Prefabricated housing and toilets
Awards & Recognition
- THSI 2021
- SET Awards 2021 (Outstanding Investor Relations)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Good corporate governance
- Fair labor treatment
- Waste management and environmental impact
- Customer relationship management
- Relationship management with partners
Environmental Achievements
- Reduced electricity cost by 9% (Jan-Sept) and 46% (Oct-Dec) compared to 2021 due to office renovation and energy-saving initiatives.
- Recycled 4,400 kgs of paper, achieving 73% of the target.
- Implemented prefabricated worker housing (Camp Knock Down) for reuse, reducing construction costs.
Social Achievements
- Employed 23 people with disabilities.
- Implemented Young Engineer Trainee Program, accepting 13 new graduates.
- Built employee accommodation near the head office.
- Achieved 85.82% employee satisfaction with training courses.
Governance Achievements
- Received a full 100 points in the quality assessment of the 2022 Annual General Meeting of Shareholders.
- Ranked "Excellent" (5-star rating) in the Corporate Governance of Thai Listed Companies for 2022.
- Renewed membership in Thailand's Private Sector Collective Action Coalition Against Corruption (CAC).
Climate Goals & Targets
- Transition to a circular economy by 2030.
- Reduce indirect greenhouse gas emissions and promote renewable energy use.
Environmental Challenges
- Increased competitiveness in the construction industry.
- Labor shortage.
- Rising construction material costs due to the Russia-Ukraine conflict.
- Risk of not being able to collect payments from customers.
- COVID-19 pandemic impact on the hotel and tourism sector.
Mitigation Strategies
- Bidding on projects with construction management knowledge and competitiveness.
- Diversifying business by expanding into related sectors.
- Directly employing 2,239 employees and providing competitive remuneration.
- Offering skill training for technicians.
- Implementing new technologies and tools to replace labor.
- Bulk ordering of construction materials.
- Strict customer selection criteria.
- Implementing COVID-19 prevention measures.
Supply Chain Management
Supplier Audits: ESG Partner Self-Assessment conducted for 65 suppliers (100% passed evaluation criteria)
Responsible Procurement
- Supplier Code of Conduct for Sustainable Development
- Fair and transparent selection process
- Monitoring and evaluation of partner performance
Climate-Related Risks & Opportunities
Physical Risks
- Flooding affecting transportation of construction materials
Opportunities
- Promoting renewable energy use
Reporting Standards
Frameworks Used: GRI, SET guidelines
Certifications: ISO 9001:2008
UN Sustainable Development Goals
- Goal 1: No Poverty
- Goal 3: Good Health and Well-being
- Goal 8: Decent Work and Economic Growth
- Goal 13: Climate Action
Initiatives contributing to poverty reduction, improved health and safety, economic growth, and climate change mitigation.
Sustainable Products & Innovation
- Prefabricated worker housing
- Prefabricated toilets
Awards & Recognition
- THSI 2022
- 100 points in 2022 AGM quality assessment
- 5-star rating in Corporate Governance of Thai Listed Companies 2022
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Corporate Governance
- Social Responsibility
- Environmental Sustainability
Environmental Achievements
- Reduced CO2 emissions by 40,376.89 kg through paper recycling.
- Planted 1,000 perennial trees at Bangsai Plant.
- Reduced electricity bill by 9.13% (160,936 baht) compared to 2021 due to office renovations and energy-saving measures.
- Installed solar panels at Bangsai Plant, reducing electricity consumption.
Social Achievements
- Employed 25 people with disabilities.
- Implemented Young Engineer Trainee Program, reducing personnel shortage.
- Improved worker camp living conditions.
- Conducted employee satisfaction survey, achieving 90.04% satisfaction after training.
- Implemented a Supplier Code of Conduct for Sustainable Development.
Governance Achievements
- Received a 100/100 score on the quality assessment of the 2023 Annual General Meeting of Shareholders.
- Received a five-star rating in the Corporate Governance of Thai Listed Companies for 2023.
- Renewed membership in Thailand's Private Sector Collective Action Coalition Against Corruption (CAC).
Climate Goals & Targets
- Transition to a circular economy by 2030.
- Reduce indirect greenhouse gas emissions and promote the use of natural energy.
Environmental Challenges
- Increased competitiveness in the construction industry.
- Labor shortage.
- Rising construction material costs.
- Risk of not being able to collect payments from customers.
- Changes in rules and regulations related to building construction.
- Climate change related risks (flooding, material transportation disruptions).
Mitigation Strategies
- Diversification of construction works and business expansion into related sectors.
- Direct employment of 1,920 employees, skill training, and improved employee welfare.
- Bulk purchasing of construction materials, alternative sourcing strategies, and effective inventory management.
- Strict customer selection criteria based on financial position and reputation.
- Establishment of an agency to track and check various actions to keep up with regulatory changes.
- Purchasing sufficient inventory to mitigate material shortages due to flooding.
Supply Chain Management
Supplier Audits: Regular assessments of Environmental, Social, and Governance (ESG) performance of suppliers.
Responsible Procurement
- Supplier Code of Conduct for Sustainable Development, fair and transparent selection process, avoidance of reliance on single suppliers.
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
Opportunities
- Development of energy-efficient products and services
Reporting Standards
Frameworks Used: GRI, SET ESG Ratings
Certifications: ISO 9001:2015 (in transition)
UN Sustainable Development Goals
- Goal 1 (No Poverty)
- Goal 3 (Good Health and Well-being)
- Goal 7 (Affordable and Clean Energy)
- Goal 8 (Decent Work and Economic Growth)
- Goal 13 (Climate Action)
Initiatives contribute to these goals through various ESG programs.
Sustainable Products & Innovation
- Prefabricated worker housing, CO-Back Mortar Pipe, Iron Plate for Slip form.
Awards & Recognition
- SET ESG Ratings 2023, Investor Relations Awards 2023, CAC certification.