At present, both the private and government sectors place priority on the environment and the worsening climate change at both the national and global levels. Many governments have adjusted their policies and legislation to resolve environmental issues, such as eliminating single-use plastic, supporting the use of recycled plastic, etc., to reduce impact from the global plastic waste crisis, which has produced wide-range impact on the environment. These environmental issues have caused significant changes in consumer behaviors; the trend toward more conscious consumption has accelerate as consumers are becoming more eco-focused. At the same time, the environmental issues have also heightened stakeholders’ expectation for GC to play a leading role in the sustainable management and to disclose more details about our future sustainability action plans. Consumer demands have changed because of the trend in low-carbon economy. Consequently, GC is affected by the decreased demand for conventional plastics and chemicals as well as the rising production costs in complying with more stringent laws, rules, and regulations. Changes in consumer behavior also affects GC’s image as global leader in chemical production. Nevertheless, such factor also presents a business opportunity for GC to step up as a leader in sustainability that respond to the demand of the society, consumers and the environment, enhancing competitiveness and creating added value for stakeholders in a sustainable manner. • Reduce business risks by decreasing proportion of plastic resin production for single-use plastic, while increasing feedstock production for durable or semidurable products. • Establish clear sales and marketing plan to introduce rPET and rHDPE plastic resin manufactured by GC’s plastic recycling plant into the market as well as create diverse options through business feasibility studies on new technology and investments in recycled plastics with partners. • Promote the replacement of hard-to-recycle singleuse plastic with bioplastic. In this regard, GC has invented the GC Compostable label to certify products that are made of GC’s biodegradable plastic resins to demonstrate our commitment in developing innovation. The label has been authorized for use solely by GC’s partners to add value to their products and packing. • Enhance efficiency in all processes using the “5Rs” principle and digital technology to reduce resource and energy consumption while implementing novel technology, such as the solar rooftop system in plants and product warehouses and seek new forms of low-carbon technology to overcome current technology limitations. GC is aware that emerging risks may have significant impacts on our business in the next three to five years. We have, thus, analyzed impacts on business and operations, and established efficient risk mitigation measures to minimize impact from these emerging risks and enable the company to achieve goals according to established strategies and directions. Emerging Risks Disruptive Changes in Consumer Behaviors from Low-Carbon Economy Mitigation Measures Business Impacts Emerging Risks • Adjust business portfol io towards low-carbon businesses, such as high value business (HVB), high value products (HVP), bioplastic, and recycled plastic, etc. • Create comprehensive product circulari ty by reintroducing plastic waste into the recycling and upcycling process to become the Circular Economy Prototype for the country through cooperating and connecting relevant parts along the value chain, such as creating waste management model and awareness with universities, "Our Khung BangKaChao" project, "Sorting Bottles to Help Doctors" project, "Send Plastic Home" project, and "YouTurn" project, etc. • Raise awareness, inspire new ideas, and create new approaches to optimize the cost-effectiveness of resource consumption, focusing on the Circular in Action concept and implementing the GC Circular Living approach in daily life and business operations. Additionally, we have conducted public relations and carried out activities with customers to develop eco-friendly products according to the circular economy concept. Additional Information ISR 2021 page 141-165 One Report 2021 page 86 86 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED บริษัท พีทีที โกลบอล เคมิคอล จำ �กัด (มหาชน)
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