ThaiBev intensifies commitment to sustainable growth
Thai Beverage Plc (ThaiBev) is stepping up its commitment to sustainable development, implementing strategies that encompass all facets of its business operations. The company’s Executive Vice President and Chief of Sustainability and Strategy, Tongjai Thanachanan, outlined the firm’s commitment to achieving sustainability through a comprehensive approach, known as Enabling Sustainable Growth (ESG). This approach encompasses environmental, social, and governance goals.
The ESG strategies adopted by ThaiBev are implemented on three levels: organisational, partner collaboration, and public platform creation. The company’s principles are driven by a royal command to “continue, preserve and extend for the benefit and happiness of the people” and the Sufficiency Economy Philosophy of His Majesty King Bhumibol Adulyadej the Great, reported Bangkok Post.
In terms of environmental targets, ThaiBev is committed to reaching net-zero emissions by 2040 and raising the share of renewable energy usage to 50%. From a social and governance perspective, the company aims to increase the proportion of health-focused products to 80% by 2030 and mandates its strategic partners to adhere to codes of conduct.
ThaiBev, in partnership with eight organisations, founded the Thailand Supply Chain Network (TSCN) in 2019. The TSCN encourages knowledge-sharing on sustainable development for the mutual benefit of all collaborators. Tongjai highlighted the company’s community cooperation efforts, referencing the Thai Beverage Recycle (TBR) initiative, which collaborates with local administrative bodies and partners to reduce waste. This project, known as the Samui Model, has generated over 10 million baht in yearly revenue for local scrap collectors since its inception in 2019.
The company’s commitment to sustainability extends to its charitable endeavours, with ThaiBev donating 200,000 eco-friendly blankets made from recycled polyethylene terephthalate (PET) to remote communities annually. This initiative has helped recycle over 30,400,000 PET bottles in the past four years.
ThaiBev has also contributed to the creation of public platforms promoting sustainability. The company has organised the Sustainability Expo (SX) for four years, with over 246 private and public organisations participating. ThaiBev is also a participant in the Carbon Disclosure Project (CDP) for Climate Change and Water Security, earning an A- score in both categories.
The company’s sustainability efforts have been recognised by the Dow Jones Sustainability Indices (DJSI), with ThaiBev scoring 91 out of 100 in 2023, the highest score in the beverage industry. This marked the sixth consecutive year ThaiBev has achieved the highest score, and it was the only beverage firm included in the Emerging Markets Index in 2023.
