Emerging Risk Due to rapidly changing business environment, GC is aware of the emerging risk factors which could have significant impacts on the business operations over the next three to five years. The Company therefore identified and analyzed such potential risks including the impact on businesses and operations along with effective mitigation measures. This is to ensure that the Company achieve strategic objectives and business goals. Corporate Risk Factor Important Mitigation Measures Disruptive Changes in Consumer Behaviors from Low Carbon Economy These days, climate change and environmental issues are being emphasized for both public and private sector. Governments around the wor l d have imp l ement ed policies and legislations, such as the ban on single-use plastic bags and the promotion of recycled plastics, to tackle environmental problems, particularly the plastic wastes. Consequently, these climate concerns have significantly changed consumer behavior. The trend towards more conscious consumption has accelerated as consumers are becoming more eco-focused. Besides, the environmental issues have also heightened stakeholders’ expectation on the Company to play a leading role in the sustainable management and to disclose its plans for sustainability. The Company has implemented proactive measures to cope with the changes in consumer behaviors as follows: Reduce business risks by decreasing the production of the plastic resins for single-use plastics and increasing the production for durable or semi-durable products instead. Create clear sales and marketing plans to bring recycled plastic (rPET and rHDPE) from the Company’s Plastic Recycling plant into the market as well as seek more opportunities through collaboration with partners to conduct business feasibility on new recycled plastic technology and investments. Promote the use of bioplastics to replace the single-use and hard-to-recycle plastic products. The Company has developed the “GC Compostable” label to certify partner’s products made from the Company’s biodegradable plastic beads. This is to accentuate GC’s commitment on innovative products development and environmental care. Increase efficiency in every process by using the “5R” principles and digital technology to reduce resources and energy consumption while implementing new innovations such as applying solar rooftop systems in factories and warehouses and seeking new low-carbon technology to push beyond the limits of today’s technology. Adjust business portfolio to include low-carbon emissions business such as High Value Business (HVB), High Value Product (HVP), bioplastics and recyclable plastic, etc. Create a completed product circularity system by bringing back plastic waste into the recycling process with a goal to be the Circular Economy Prototype for the country through collaboration with all sectors throughout the value chain. Examples of the projects are conducting a waste management model and creating awareness with universities, the “Our Khung BangKachao” Project, “Separate PET Bottle to Help Doctors” Project, “Send Plastic Home” Project and “YouTurn” Project, etc. Raise awareness, inspire ideas, and create new approaches for the most cost-effective use of resources by focusing on the Circular in Action concept, applying the GC Circular Living approach in daily life and business operation. In addition, communication and workshop programs have also been launched for the customers’ participation in eco-friendly product development under the circular economy concept. 86 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
RkJQdWJsaXNoZXIy ODg4NTI=