Climate Change Strategy and Target

Climate Strategy

GC has established both short-term and long-term strategies for energy management and climate change in accordance with the Task Force on Climate-related Financial Disclosures (TCFD).

Our climate change action plan focuses on enhancing the production process, energy management and energy conservation to achieve optimal efficiency. We also consider the possibility of utilizing alternative energy to uplift our performance in greenhouse gas reduction while planning to expand the scope of operations to incorporate scope 3 value chain emissions.

1) Efficiency-Driven: Enhance process efficiency to optimize resource and energy consumption.

2) Portfolio-Driven: Adjust long-term business structure towards low-carbon business while preserving the company’s growth.

3) Compensation-Driven: Adopt nature-based solutions and explore technology for carbon absorption to support operations and achieve established goals with maximum efficiency.

GC has a clear roadmap and are increasing our medium-term targets to reduce by 20 percent within 2030 on the journey to achieving Net Zero by 2050 in line with the Paris Agreement. GC propelling our customers and suppliers to participate in this commitment together. Moreover, GC looks forward to continued engagement with various players in the global markets. With this regard, it is GC's best interest that the roadmap of the Low Carbon Transition Framework has included activities of engagement with relevant stakeholders, which is also aligned with the ambition of Paris Agreement, to push forward the company to achieve low carbon business.

GC has set climate-related targets and Key Performance Indicators (KPI) to monitor GC’s performance and support global ambition to reduce effect caused by climate change. Hence, GC’s climate-related target has set in accordance with national and global targets, for instance, Thailand’s Nationally Determined Contribution (NDC), Paris Agreement in the 26th Sessions of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) and Sustainability Development Goals (SDGs), which emphasis on reducing greenhouse gas emission from its operations by enhancing energy efficiency and encouraging alternative energy. These are aligned with the Sustainable Development Goal 7: Affordable and Clean Energy (SDG 7), and Sustainable Development Goal 13: Climate Action (SDG 13) of the United Nations, as well as Carbon Disclosure Project (CDP).

(UN SDG 7: Affordable and Clean Energy)

(UN SDG 13: Climate Action)

To achieve the mentioned target, GC has analyzed internal and external risk factors, which may affect the business operation in both short-term and long-term. Additionally, GC monitors the Emerging Risks from the Early Warning System to identify climate change risks that may cause widely impacts on GC and/or industry over the next three to five years. Therefore, GC has established risk and crisis management approaches to manage risk within an acceptable limit in response to GC’s Climate Change Strategy.