Compensation-Driven
Carbon offsets are another important driving force in the management of residual greenhouse gases after implementing business activities align with efficiency-driven and portfolio-driven approaches. GC employs technology-based solutions for carbon sequestration, such as carbon capture and storage (CCS) technology and offsets through nature-based solutions, such as reforestation and forest restoration.
Carbon Capture Utilization and Storage (CCUS) Operations
GC is in the process of researching carbon capture storage and utilization (CCUS) technology by considering the availability of technology and business feasibility, as well as using Corporate Venture Capital (CVC) channels to gain access to new technologies. There is also an initiative to cooperate with various companies to achieve an economy of scale
with a goal of approximately
million tonnes of carbon capture with CCUS technology in 2050
CCUS Technology Examples
Nature-Based Solutions Operations
GC has continuously worked on the restoration and reinforcement of the forest ecosystem with government agencies, the private sector, and local communities to restore over 2,500 rai of forest for carbon sequestration. The creation of carbon credits aims to offset the remaining greenhouse gas emissions from the company’s operations
with a target of
million tonnes per year in 2050
In addition, GC also monitors the carbon credit market and relevant regulations to optimize carbon offsets.
Operations Example
Khao Huai Mahad Reforestation and Water Conservation Project
GC, along with government agencies, the private sector and various communities, has continually cooperated since 2013 to restore and strengthen the watershed forest ecosystem in this project areas of more than 2,500 rai in Khao Huai Mahad, Rayong Province. It has been certified by the Thailand Greenhouse Gas Management Organization, a public organization, as a project in the Low Emission Support Scheme (LESS) by the private sector for forests and green areas.
Refer to Thailand Greenhouse Gas Management Organization (Public Organization), Project Implementation Assessment (2013-2018)
Implementation of such projects
(2013-2018)
Rayong Wanarom Ecological Forest Project
GC has joined the forestation of Rayong Wanarom Ecological Forest, aimed to increase carbon sequestration through sustainable forestation according to Eco Forest principles in the area within the Asian Industrial Estate, Ban Chang Subdistrict, Ban Chang District, Rayong Province. The total forestation area of the project spans 80 rai, with an average carbon sequestration rate equivalent to 1,270 tonnes CO2 per year.
Implementation of such projects
