|Sustainable Development Goals|
Promotion of Sustainability NetworkGRI 2-28
PTT has been well aware that steering Thailand to achieve a robust economic growth with people having access to good quality of life, sustainable security, safety, and balance in all facets requires collaboration of all sectors, both nationally and internationally. PTT therefore focuses on strengthening engagement with internal and external sustainability networks and partners. PTT, as an organization, trade association, institution, state organization, and non-profit organization, has adhered to the policies of good corporate governance, risk management, regulatory compliance, corporate anti-fraud and corruption regulations and Handbook of Good Corporate Governance and Code of Conduct and Ethical Standards in Business Operations when deciding on granting a sponsorship/cooperating with such partners and networks in a careful manner to obtain transparency and accountability.
Standing Point and sustainability network Promotional models
PTT determines its standing point/participates in the sustainability networks and partnership which covers all areas that PTT has operated “in order to jointly drive Thailand towards a sustainable low-carbon society, aiming at tackling global warming problems in a timely manner to support the corporate goal of reducing greenhouse gas emissions in the long run, as well as achieving the carbon neutrality goal within 2040 and the net zero goal in 2050 to maintain the global temperature rise at below 2 °C.” The sponsorship model for sustainability networks and panels is primarily membership fee-based. There are no activities or support for political purposes or the like (Lobby). No financial or resource contributions are made to political parties, or organizations, or individuals involved in politics or the like, in addition to the binding tax payment and others to the government, in line with the given principles and the Handbook of Good Corporate Governance and Code of Conduct and Ethical Standards in Business Operations.
PTT focuses on sponsoring sustainability networks and partners, with key objectives as follows:
- Develop and promote good practices on sustainability, human rights and SSHE in the oil and gas industry and those related.
- Promote business in line with Thailand's policies and goals as well as the Sustainable Development Goals (SDGs) to form a low-carbon society and reach the carbon neutrality and net zero goal in accordance with the Paris Agreement adhered to by PTT and the country.
Sustainability Network Support Governance
With respect to the decisions to participate in sustainability networks and partnership, PTT assigns its Executive Vice President for Sustainability to be responsible for screening and commenting on it, monitor and review its participation or membership in sustainability networks, taking into account the objectives and activities. This is to contemplate whether they are consistent with or shifting from the original standpoint of PTT in joining the sustainability networks and partnership. The outcomes shall be presented to the Board of Directors, or competent executives, as specified, on an annual basis. In terms of the action to address climate-related misalignment, this shall be done in every 4th quarterly to review the alignment of their standing point on sustainability aspect with PTT’s standpoint. If any misalignment is observed, PTT shall immediately resign from those partnerships or no renew the membership.
Sustainability network support program
In 2022, PTT reviewed the list of national and international networks and partnership, whether they are organizations, trade associations, institutions, government organizations, or non-profit organizations PTT has joined or became a member of. It was found that all items in the list still reflected the original standpoint while their objectives and projects/activities have been implemented in consistent with the same and the sustainability intent as well as forging forward to achieve a low-carbon society and the net zero goal in accordance with PTT's Paris Agreement as follows:
National and International Sustainability Collaborative Networks and PartnershipGRI 2-28
TT's Roles and Key Actions in 2022
Federation of Thai Industries: F.T.I.
PTT became a member and participated in an environmental working group of the refinery group.
|Thai Chamber of Commerce||National||
||PTT became a member and joined the Circular Economy and Environment Committee, Thai Chamber of Commerce.|
World Business Council for Sustainable Development: WBCSD
PTT became a member where the Chief Executive Officer and President served as a Council Member with certain senior executives being assigned as liaison delegates.
Petroleum Institute of Thailand: PTIT
PTT became a member and joined the Environmental and Climate Working Group.
|Thai Institute of Directors Association ( IOD )
Thai Listed Companies Association (Thai LCA)
|World Economic Forum (WEF)||International||
|Thailand Business Council for Sustainable Development (TBCSD) and Thailand Environment Institute Foundation ( TEI )||National||
||PTT became a member with
|United Nations Global Compact (UNGC)||International||
Global Compact Network Thailand (GCNT)
Thai Renewable Energy Association (RE100)
||PTT became a member, being a major member on behalf of PTT Group.|
Oil Industry Environmental Safety Group Association (IESG)
||PTT became a member and served in the following positions:
|Thailand Carbon Neutral Network (TCNN)||National||
||PTT joined the Climate Action Leading Organization and was certified under the initiative Climate Neutral Now under the Secretariat of the United Nations Convention on Climate Change (UNFCCC) with
Membership Fees of Networks and Partnership to which PTT is a MemberGRI 2-28, GRI 415-1
In 2022, the first five membership fees are: World Economic Forum (WEF), Petroleum Institute of Thailand (PTIT), World Business Council for Sustainable Development (WBCSD), United Nations Global Compact (UNGC), and Thai Institute of Directors (IOD).
|Organization||Type||Membership Fee/Political Support Fee (Baht)|
|Contributions to lobbying, interest representation||Contributions to lobbying, interest representation or the like||0||0||0||0|
|Contributions to local, regional, or national political campaigns/ organizations/ candidates||Contributions to local, regional, or national political campaigns/ organizations/ candidates||0||0||0||0|
|The Federation of Thai Industries (F.T.I.)||Trade association||241,820||370,220||359,520||363,520|
|Thai Chamber of Commerce||Trade association||24,610||0||24,610||24,610|
|World Business Council for Sustainable Development (WBCSD)||Sustainability Network/Association/Institution||2,484,928||2,733,232||3,201,138||3,434,895|
|Petroleum Institute of Thailand (PTIT)||Sustainability Network/Association/Institution||4,263,128||3,644,500||4,139,536||3,973,736|
|Thai Institute of Directors Association (IOD)||Sustainability Network/Association/Institution||1,605,000||535,000||535,000||535,000|
|Listed Companies Association (Thai LCA)||Sustainability Network/Association/Institution||7,490||26,750||26,750||26,750|
|World Economic Forum (WEF)||Trade association||6,495,660||6,495,660||6,495,660||7,616,869|
|Thailand Business Council for Sustainable Development (TBCSD) and Thailand Environment Institute Foundation (TEI)||Sustainability Network/Association/Institution||250,000||500,000||500,000||250,000|
|United Nations Global Compact (UNGC)||Sustainability Network/Association/Institution||609,164||620,794||595,046||653,798|
|Thai Renewable Energy Association (RE100)||Sustainability Network/Association/Institution||0||0||0||55,350|
(spending related to ballot measures or referendums)
Cooperation of the Domestic Energy NetworkGRI 2-28
As PTT has jointly prepared a proposal and presented it to the climate change policy and strategy meeting for Thailand's long-term greenhouse gas emissions attended by the Ministry of Natural Resources and Environment and the Ministry of Energy, it focuses and prioritizes supporting Thailand’s goals and measures by setting a shorter net zero goal compared to that of the country. It established guidelines for the reduction of greenhouse gas emissions as follows: shifting to renewable energy, enhancing energy use efficiency, and leveraging hydrogen technologies.
In 2022, PTT, as the energy organization of Thailand, has supported the operations of government agencies namely the Office of Natural Resources and Environmental Policy and Planning, Department of Environmental Quality Promotion and Thailand Greenhouse Gas Management Organization (Public Organization) and the Sustainability Network (Thailand Carbon Neutral Network) in a partnership meeting to drive the implementation of Thailand Climate Action Conference (TCAC) to share and cascade knowledge, experience and co-drive actions on climate change by contributing a total of 3,058,000 baht.
Major roles in driving government policies: The development of the Eastern Economic Corridor of Innovation (EECi)
Based on the participation in the sustainability network of institutions and organizations above, PTT has also succeeded in establishing a collaborative network with many public and private sectors in the development of the Eastern Economic Corridor of Innovation (EECi) at Wang Chan Valley Area, Wang Chan District, Rayong. This collaboration is to structure a complete innovation ecosystem, serving as the country's advanced innovation research and development center that can be further developed into practice. It has been supported in the announcement of special economic zone town planning by the Eastern Economic Corridor Policy Office (EEC) and incentivized by the Board of Investment of Thailand (BOI) with important partners namely:
- National Science and Technology Development Agency (NSTDA) plans, develops, and manages the Wang Chan Valley area, as well as establishing an innovation center (EECi Headquarter) to enhance the country's comprehensive research and innovation capabilities in 4 areas, consisting of:
- BIOPOLIS research project – industrial development under a bio-based economy.
- ARIPOLIS research project – development of research and innovation in the robotics industry, automation, and intelligence system.
- SPACE INNOPOLIS research project – development of aircraft technology, space technology, and geospatial by being the hub and production base.
- FOOD INNOPOLIS research project – development of the food industry using science, technology, and innovation.
- The Department of Science Service has set up a test field for connected vehicles and autonomous driving (CAV Proving Ground) for the research and development of future mobility technology to drive the development of testing infrastructure for Thailand's modern vehicles and benchmark it against the international standards.
- Global Power Synergy Public Company Limited (GPSC) has developed, designed, and managed solar-based electricity generation (Renewable Energy), as well as efficiently planning and managing energy in the Wang Chan Valley area.
- WHA Utilities and Power Public Company Limited (WHAUP) operates wastewater treatment using modern technology and takes into account the environment by recirculating wastewater to water plants within the project, which efficiently accommodates users at the Wang Chan Valley area. Moreover, the venue can serve as a public educational space to showcase wastewater treatment technology in the future.
- Eastwater Public Company Limited operates a business of water supply production and provision in the project area.
- The National Broadcasting and Telecommunication Commission (NBTC) permitted PTT to specifically serve as a coordinator of regulatory areas with the regulatory sandbox located in the Wang Chan Valley area.
- The Civil Aviation Authority of Thailand (CAAT) regulates, monitors rules and requirements, and grants permission to conduct experimental tests on aircraft in developing an area for research and development for unmanned aerial vehicles "UAV Regulatory Sandbox" or permission to fly drones for innovation research in the area of Wang Chan Valley as a special case for the development of new innovations.
- PTT Exploration and Production Public Company Limited (PTTEP) established PTTEP Technology & Innovation Center (PTIC) for innovation research, developing technology to support the petroleum exploration and production business, including artificial intelligence technology (AI) and robotics. In this regard, the center is also a venue for PTTEP personnel training and learning.
- The Provincial Electricity Authority (PEA) has organized a joint prototype project in managing the electrical system within the EEci area to ensure its effectiveness, starting from a pilot project in the EECi area.
- Synchrotron Light Research Institute created the “Synchrotron Light Generator Project” at the power level 3 GeV for basic science research, analysis of atomic properties, molecules, and development of medical science as well as industrial segments, etc.
- Advanced Info Service Public Company Limited (AIS), True Corporation Public Company Limited (TRUE) and Total Access Communication Co., Ltd. (DTAC) sponsored the "5G Playground" system as a trial stage in order to test innovations that require 5G network, e.g., IoT instruments or intelligent industrial systems in multi-forms.
PTT is in the process of negotiating with partner companies to develop the Wang Chan Valley area in order to promote the industry, people development and education, as well as seeking opportunities to cooperate in research and innovation development, which will shape connections between businesses.
UN Global Compact (UNGC)
PTT has been a member of the UN Global Compact since 2012 to promote the 10 principles of UNGC, overarching human rights, labor, environment, and anti-corruption issues. As a member, PTT has delivered annual Communication on Progress (COP) reports or annual sustainability reports to the UN Global Compact to disclose its sustainability performance.
PTT Group manages compliant sustainability using PTT's Sustainability Management Policy so that it can monitor the process and operate according to the PTT Sustainability Management Standards that underpin the 10 principles of the UN Global CompactLetter of commitment of the Chief Executive Officer and President
10 principles of UN Global Compact
Principle 1: Support and respect the protection of internationally proclaimed human rights.
Principle 2: make sure that they are not complicit in human rights abuses..
Principle 3: Uphold employees’ freedom of association and the effective recognition of the right to collective bargaining.
Principle 4: Encourage support and identify solutions to the elimination of all forms of forced and compulsory labor.
Principle 5: Encourage and find a solution to achieve the effective abolition of child labor.
Principle 6: Encourage and find a solution to the elimination of discrimination in respect of employment and occupation.
Principle 7: Businesses should support a precautionary approach to environmental challenges.
Principle 8: Undertake initiatives to promote greater environmental responsibility.
Principle 9: Encourage the development and diffusion of environmentally friendly technologies.
Principle 10: Work against corruption in all its forms, including extortion and bribery.
Annual Communication on Progress (CoP ) 2022
|1||The CoP describes mainstreaming into corporate functions and business units.|
|2||The CoP describes value chain implementation.|
|3||The CoP describes robust commitment, strategies or policies in the area of human rights.|
|4||The CoP describes effective management systems to integrate the human rights principles.|
|5||The CoP describes effective monitoring and evaluation mechanisms of human rights integration.|
|6||The CoP describes robust commitment, strategies or policies in the area of labor.|
|7||The CoP describes effective management systems to integrate the labor principles.|
|8||The CoP describes effective monitoring and evaluation mechanisms of labor principles integration.|
|9||The CoP describes robust commitment, strategies or policies in the area of environmental stewardship.|
|10||The CoP describes effective management systems to integrate the environmental principles.|
|11||The CoP describes effective monitoring and evaluation mechanisms for environmental stewardship.|
|12||The CoP describes robust commitment, strategies or policies in the area of anti-corruption.|
|13||The CoP describes effective management systems to integrate the anti-corruption principles.|
|14||The CoP describes effective monitoring and evaluation mechanisms for the integration of anti-corruption.|
|15||The CoP describes core business contributions to UN goals and issues.|
|16||The CoP describes strategic social investments and philanthropy.|
|17||The CoP describes advocacy and public policy engagement.|
|18||The CoP describes partnership and collective action.|
|19||The CoP describes CEO commitment and leadership.|
|20||The CoP describes Board adoption and oversight.|
|21||The CoP describes stakeholder engagement.|
PTT’s UNGC Communication on Progress 2022
- Sustainable Governance