|Sustainable Development Goals|
PTT’s environmental management system is integrated as part of our SSHE Management System. We have established the Quality, Security, Safety, Health and Environment (QSHE) Policy, approved by Chief Executive Officer and Managing Director to foster the corporate commitment and become a management framework for PTT group, business units, operational lines and sites, and PTT group’s subsidiaries to collectively and fully comply with. Its highlights as follow;
- Compliance with laws, corporate regulations, international standard, relevant commitments.
- Risk management, protection, prevention and deliberately environmental impact reduction with on-going its performance review and improvement.
- Internal and external communication on our performance and effectiveness with transparency to mutually understand and recognize.
- All management level as a role model for their roles and responsibility with good governance followed by clear understanding of all staff.
To entirely put it into concrete implementation, PTT has established the key environmental indicators as mid-and-long term strategic targets and annual target, which are deployed to PTT group, business units, operational lines and relevant sites. The communication and trainings on policies, indicators, and targets are also conducted to make sure all managements and employees understand and fully comply with. Performance is reported quarterly to department management and relevant Board committees.
Climate Change Management remains an urgent imperative prioritized by all parties, and PTT is closely monitoring and assessing risks and opportunities in the short, medium, and long terms. We are fully committed to advancing climate change solutions to support national strategy, in line with our vision and commitment to drive Thailand towards a low carbon society and achieve targets for carbon neutrality and net zero greenhouse gas emissions.
For Integrated Water Management, PTT and PTT Group subsidiaries give importance to managing supply and demand to achieve balance and avoid impacts on communities’ water consumption and the environment. We have conducted a study and established a target to control and monitor PTT Group’s freshwater withdrawal. Our target for 2022 is to limit total freshwater withdrawal at 74 million cubic meters or below. In 2021, PTT’s wastewater discharge was compliant with expected standards and rules, and there were no fines or penalties for non-compliance with environmental laws and regulations.
Finally, PTT remains invested in Air Quality Control, Circular Economy and Waste Management, Spill Management, and Biodiversity.
0% increase in air pollution emissions per year
||Zero hazardous industrial waste disposed to landfills1|
||Zero non-hazardous industrial waste disposed to landfills1 by 2023|
By 2030, reduce PTT Group’s2 greenhouse gas emissions by 15% from the 2020 baseline.
Reduce water consumption in high-risk areas and limit water consumption at current levels or below in areas with high water consumption. PTT Group has determined the following water efficiency targets for our offices and operational areas:
1. The scope of data does not include industrial waste of the following conditions:
• Industrial waste that the Department of Industrial Works, or other government agencies, did not authorize to be disposed through other means.
• Industrial waste that could not be recovered due to lack of technology in the country.
Nonetheless, this calculation is in line with all of the criteria used by the Department of Industrial Works for the Zero Waste to Landfill Achievement Award.
2. The long-term greenhouse gas emissions target for 2030 was reviewed and updated in 2021.
PTT has collects and records environmental expenses, revenues, and investments on an ongoing basis. In 2021, PTT expanded the scope of data collection to include five PTT Group subsidiaries – PTT Exploration and Production Public Company Limited (PTTEP), PTT Global Chemical Public Company Limited (GC), Thai Oil Public Company Limited (TOP), IRPC Public Company Limited (IRPC), Global Power Synergy Public Company Limited (GPSC), and PTT Oil and Retail Public Company Limited (OR). Reporting for GPSC will commence in 2022. In addition, PTT developed a tool to calculate the environmental return on investment (EROI) to monetize the benefits and measure the effectiveness of our environmental investments in a more tangible way. This will help us build stakeholder confidence while capturing the true value of our environmental investment, in line with the UN Environmental Management Accounting Procedures and Principles.
PTT’s Environmental Investments
• Environmental investments are defined as investments to acquire environmental assets for PTT.
• Since 2016, PTT developed our approach to classify expenses as environmental expenses for more comprehensiveness and alignment with the UN Environmental Management Accounting Procedures and Principles. We also updated our process for estimating environmental return on investment by referring to projects under the productivity enhancement system of PTT.
• Although the assets of PTT and OR have been separated since July 2018, environmental assets have increase in value compared to 2017. In 2018, PTT consolidated investment data and improved data completeness for an initiative to install selective catalytic reduction (SCR) technology on the waste heat recovery unit (WHRU) at the Gas Separation Plant Unit 5 in Rayong Province. This system serves to help reduce NOx emissions.
• In 2019, PTT developed the “e-Expense” system to consolidate data on environmental expenses of the organization and improve data completeness. PTT is also in the process of investing in a project to install a hydrogen sulfide removal unit, which will include a regenerative thermal oxidizer (RTO) and SO2 scrubber, at the Gas Separation Plant Unit 5 in Rayong Province. This system will help remove hydrogen sulfide from contaminated acidic gas.
• In 2020, as a result of the COVID-19 pandemic and travel restrictions, some of PTT’s investment projects were delayed as experts and consultants from abroad could not travel into Thailand.
• In 2021, Environmental Investment increased because of wastewater collection system project at Wangchan Valley, Rayong Province.
Thailand has committed to achieving carbon neutrality by 2050 and net zero greenhouse gas emissions by 2065. PTT recognizes the value of this commitment and the potential impacts. We are taking action to prepare ourselves for the challenge and fully support national targets. To that end, we are expecting a significant increase in environmental investment projects shortly.