Product Stewardship Strategy
Target
- Develop sustainable product management mechanism
- 100 percent of GC products received Carbon Footprint of Product (CFP)
- Expanding long-term adjusted EBITDA in Specialty Chemicals to 30 percent by 2030.
Challenges and Opportunities
Petroleum, petrochemical, and chemical products have become the basic necessities of living while creating benefits for the country in terms of basic products and key export products which generate country’s income.
However, the problem of plastic waste has become a global concern, which requires the joint efforts of the international community to find a solution, e.g. campaigning to reduce, refrain from, and stop using plastic bags and single-use plastic, etc.
Taking this issue into account, GC is committed to develop sustainable product portfolio management to ensure compliance with legal requirements and to integrate the principles of the circular economy into its business operations. This approach aims to minimize environmental and ecological impacts while responding to the expectations of consumers and customers. By doing so, the company enhances its competitiveness, supports long-term business growth, and reduces future production costs, ultimately paving the way toward industry leadership in the petrochemical sector.
Management Approach GRI 3-3 (2021)
Product Stewardship Management Process
GC is committed to invest in research, develop, and promote the natural material and chemical-substitute innovations from reliable sources in order to create environmental-friendly and health-friendly products. In addition, GC has adopted Eco-design principles and environmentally friendly production process to reduce environmental impacts throughout the supply chain. This has enhanced competitiveness and growth opportunities for healthy and environmentally friendly chemical products. As GC determines to be a role model in product stewardship, GC has continuously set product stewardship policy and strategy plan since 2009.
Product Stewardship Policy
Product StewardshipHealth-and Environmental-Friendly Products
GC aims to develop petroleum, petrochemical, and chemical products for daily use to create a better living and respond to consumers’ needs, while at the same time, GC is also focusing on responsibility towards the environment and the society as well as create income for the country.
However, GC is also aware of the product stewardship in regard to the Genetically Modified Organisms (GMOs) by representing the statement of safety in feedstock and use of GC’s product.
Responsible Care
GC prioritizes product stewardship by ensuring that its manufacturing processes throughout the supply chain are socially and environmentally responsible, minimizing negative impacts while maintaining a strong focus on safety. The company has adopted the Responsible Care® framework, a voluntary initiative developed by the International Council of Chemical Associations (ICCA). This global commitment by the chemical industry underscores the responsibility of companies to continuously improve performance in health, safety, and environmental protection—both in business operations and for the broader society.
GC remains dedicated to integrating the principles of Responsible Care® into its operations, contributing to global challenges by continuously enhancing environmental, health, and safety measures while improving the quality of life for all.