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Circular Economy Management

Material Topics
Material Topic: Circular Economy
Impact Materiality : Medium
Financial Materiality : Very High
Double Materiality : Very High
Stakeholders
Business Partner
Shareholders
Customer
Investor
Community
Stakeholder Type of Impact Cause of Impact
Shareholders
  • Positive
  • Negative
 Supply Chain, Operations
Business Partner
  • Positive
  • Negative
 Supply Chain, Operations
Customer
  • Positive
 Products/Services
Investor
  • Positive
 Operations
Communities
  • Positive
  • Negative
 Supply Chain, Operations

SDGs Targets

Targets Long-Term Targets Progress in 2025
Sustainable Product Portfolio Expand the revenue proportion from sustainable product portfolio to 20-30% by 2030* Expand the revenue proportion from sustainable product portfolio to 17%**

* This target is the same as the target specified under Product Stewardship, as the risks and opportunities identified under financial impacts relate to revenue changes from the sustainable product portfolio.

** The above performance results are based on operations within the year 2024. The performance results for 2025 will be compiled and updated by April 2026.

Challenges and Business Opportunities

The growing global population continues to increase the consumption rate, while business supply chains and operational efficiencies have not been optimized to address the issue of today’s resource scarcity. This result in the depletion of natural resources and abundance of waste generation. Therefore, GC is committed to be a part to promote a sustainable measure and create value in accordance with “Circular Economy” principle according to BS 8001:2017 in developing the company's core strategies and responding to its Environmental, Social, and Governance (ESG) development strategy. Additionally, the company is committed to conducting business based on the 5Rs principles throughout the value chain, while building collaborative networks with external organizations, including the public sector, private sector, and civil society, to address, prevent, and solve these issues. This also aims to raise awareness and establish appropriate practices for the efficient use of resources, as well as effective waste management, reducing plastic waste problems that impact the environment, communities, and society. Moreover, the company supports driving Thailand towards becoming a Zero Waste Society, promoting the reduction of greenhouse gas emissions in line with the United Nations’ Sustainable Development Goals (SDGs).

Management Approach GRI 3-3 (2021) GRI 306-2 (2020)

Circular Economy for Sustainable Development

GC applies the circular economy concept to create a balance between technological and biological development. The principle of circular economy is to maximize the cycle of resource utilization by shifting from the use of limited natural resources to renewable resources, or by utilizing re-materials (resources from used products) in the production process, while reducing as much waste as possible throughout the entire production process. With production capacity for Bio-based products (Chemical & Polymers) and Plastic Recycling (Mechanical & Chemical Recycling), the company aims to expand its business in Bio and Circularity products in line with its investment strategy direction, with the goal of achieving net-zero greenhouse gas emissions by 2050.

The company integrates three principles of circular economy to maximize resource utilization, minimize waste generation, and reduce environmental impacts throughout the supply chain, as follows:

  • Enhancing Production Process Efficiency – Applying innovation and new technologies to design, develop, and improve production processes in alignment with circular economy principles. This focuses on maximizing resource value and utilization, coupled with the use of renewable energy to reduce the impacts of climate change, while enhancing stability in the production process. For more information, please refer to:

    Climate Change Strategy and Target link

    Energy Management link

    Sustainable Water link

    Waste Management link

  • Developing Environmentally Friendly and Consumer-Safe Products – Developing products that are environmentally friendly and safe for consumers in accordance with circular economy principles. This involves applying Eco-design assessment approaches for product design, implemented in alignment with the Product Stewardship strategy, which includes the use of Life Cycle Assessment combined with technology and innovation. For more information, please refer to:

    Product Stewardship: link

  • Collaborating with Partners Across All Sectors Throughout the Value Chain (Loop Connecting) – Coordinating collaboration with all sectors throughout the value chain to expand success and create end-to-end business connectivity for project development and enhancement. In addition to elevating social responsibility, this strengthens the business ecosystem by focusing on maximizing resource utilization, minimizing waste generation, and transforming waste into maximum value through Loop Connecting. For more information, please refer to:

    YouTurn: link