Sustainable Development
Moving Towards Net Zero
At TOA, we recognize the urgency of the climate crisis and have set a definitive target to achieve Net Zero emissions by 2050. We are integrating sustainable development principles across our entire value chain, from raw material sourcing and production processes to delivering environmentally friendly products and solutions to our consumers.
Climate Change Governance
To ensure the most effective climate change governance, the Corporate Governance and Sustainability Management Committee has assigned two senior executives to closely oversee and supervise climate change risk management:
- Mr. Jatuphat Tangkaravakoon, as Chairman of the Corporate Governance and Sustainability Management Committee and Chief Executive Officer.
- Mr. Winai Chaiburannont, as Vice Chairman of the Corporate Governance and Sustainability Management Committee and Senior Vice President, Operations.
Both individuals play a crucial role in driving and overseeing policies and strategies for climate change risk management. This ensures TOA can operate sustainably and achieve its Net Zero 2050 target.
Greenhouse Gas Reduction Goal
Our company is continuously committed to reducing greenhouse gas emissions from our operations to help address climate change. We've set clear targets:
- Short-Term Target: We aim to reduce greenhouse gas emissions by 50% by 2030 compared to our 2021 baseline. This covers Scope 1 and Scope 2 emissions.
- Long-Term Target: We're targeting Net Zero Greenhouse Gas Emissions by 2050, covering Scope 1, 2, and 3 emissions, also compared to our 2021 baseline.
Note: We chose 2021 as our baseline year because it was the first year we fully assessed greenhouse gas emissions, collecting comprehensive data across all three scopes. This assessment was also verified according to the requirements of the Thailand Greenhouse Gas Management Organization (Public Organization) for both our Bang Na and Samrong factories.
TOA Net Zero approach
TOA assesses climate-related risks and opportunities that may affect its business operations and has developed the “7-GREEN” strategy to drive progress toward its commitment to achieve Net Zero greenhouse gas emissions by 2050. The strategy comprises the following pillars:
Climate Change Adaptation
Our company recognizes the long-term risks that climate change poses to our business operations. Therefore, we've established adaptation strategies alongside our greenhouse gas reduction efforts. The goal is to enhance our ability to cope with the evolving climate risks and maintain business continuity.
Our adaptation measures include:
- Assessing and managing climate change-related risks, including natural disasters, that could impact our operations. This helps us plan and adapt effectively.
- Developing environmentally-friendly products, such as "TOA Shield Expert," which helps reduce water consumption and greenhouse gas emissions. This reflects our adaptation to changing market demands and stricter environmental regulations.
- Commitment to reducing product emissions by obtaining Carbon Footprint Reduction (CFR) labels for over 131 products. This is the highest number in the architectural paint market.
Greenhouse Gas Accounting and Reporting
Our company assesses and reports greenhouse gas emissions using emission factors referenced from the IPCC 2006 guidelines and the requirements of the Thailand Greenhouse Gas Management Organization (Public Organization). The organizational boundary is determined based on the "Operational Control" approach, covering 100% of TOA Paint (Thailand) Public Company Limited. Our assessment covers greenhouse gas emission activities across three main scopes:
| Scope 1: Direct Emissions | Scope 2: Indirect Emissions from Energy | Scope 3: Other Indirect Emissions across the Value Chain |
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| Organizational Greenhouse Gas (GHG) Emissions | Unit | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Direct GHG emissions (Scope 1) | tCO2eq | 8,627 | 8,615 | 7,751 | 7,357 |
| Energy indirect GHG emissions (Scope 2) | tCO2eq | 8,662 | 7,336 | 7,239 | 6,566 |
| Other indirect GHG emissions (Scope 3) | tCO2eq | 250,247 | 261,994 | 268,035 | 234,281 |
| Total GHG emissions (Scope 1, 2, and 3) | tCO2eq | 267,536 | 277,945 | 282,525 | 248,204 |
Greenhouse Gas Emission Data Verification
Our company's 2024 greenhouse gas emission data across all three scopes has been verified by ECEE Co., Ltd., an independent body. This verification was conducted in accordance with the international standard ISO 14064-3 and the requirements for calculating and reporting the organizational carbon footprint for 2022, as stipulated by the Thailand Greenhouse Gas Management Organization (TGO).
