3 5 4 Step Up Enablers for Transformation Necessity and Opportunity in New Landscape GC has announced its intent to achieve internationally recognized leadership in the area of sustainability by integrating circular economy principles and an Environmental, Social, and Governance (ESG) framework into its business operations. GC has also declared its goal to reduce emissions of Scopes 1 and 2 GHG to zero by 2050, placing emphasis on projects that yield returns on investment alongside GHG emission reduction. To this end, it seeks to translate its established plans to practical actions through four strategies: To effectively implemented the four strategies above, it is vital for GC to strengthen its supporting units and optimize their efficiency by improving their operational model through three major components: In responding to the evolving industrial landscape, GC recognizes the significance of maintaining its advantages and creating long-term business opportunities through business portfolio restructuring in collaboration with its partners as well as the importance of seeking opportunities to leverage its strengths and expertise to develop new businesses as well as create differentiations and business returns in the future as part of the hydrogen and carbon business integration strategy, which aligns with the world’s sustainability-focused energy trends. Efficiency-driven: GC seeks to optimize the production process, transition to alternative energy, as well as develop and introduce new low-carbon technologies to production or enhance decarbonization efficiency. Portfolio-driven: GC carries out projects as prioritized to reflect the current situation and align with GC’s strategies to move towards low-carbon businesses. Key initiatives include studying business restructuring, studying investment in High Value Businesses (HVBs) through allnex’s business expansion, and investing in Bio & Circularity businesses. In addition, GC is advancing its circularity businesses, with plans to develop a sustainable Center of Excellence: GC seeks to opt imize operat ional ef f iciency by improving and enhancing production efficiency and reducing processes that do not generate added value to GC’s core businesses through an organization-wide efficiency optimization project (Max), Maptaphut Integration (MTPI), Digital Transformation (dEX), and FiT. Furthermore, GC strives to foster operational excellence among its subsidiaries and overseas joint ventures and maximize benefits through synergy by establishing the International product port fol io wi th the goal of expanding the domestic Post-Consumer Recycled (PCR) market. Additionally, GC has developed a sustainable product growth plan and is expanding its waste management business to achieve nat ionwide coverage through the YOUTURN Platform, while also studying the feasibility of new waste management businesses. Compensation-driven: GC is studying the feasibility of vital projects, such as PTT Group CCS Hub, with cooperation plans within PTT Group and with other private entities to accelerate the advancement of pol icies in col laborat ion wi th the government sector. In addition, GC is Center of Excellence, which is tasked with cultivating operational excellence among domestic and overseas companies within GC Group. Innovation Growth Platform & CVC: GC undertakes innovation initiatives by establ ishing a strategic technology platform and developing three major gr oups o f t echno l og i es , name l y (1) Renewable and Circularity Innovation, (2) Net Zero Innovation, and (3) Advanced Materials Innovation. The goal is to accelerate growth in high-value and planning to implement nature-based solutions through reforestation and mangrove forest restoration projects and is in the process of studying carbon credit trading through overseas platforms. Leadership: GC seeks to achieve leadership in sustainability by adopting international sustainability practices in key aspects, such as Environmental, Social, and Governance (ESG), in a balanced manner with emphasis on contributing value to society sustainably and expanding sustainability practices to all companies in GC Group in accordance with the Decarbonization Roadmap in order to serve as a model for the petrochemical and other related industries. low-carbon businesses and drive the achievement of GC’s Net Zero emissions target in accordance with its business direction. People & Organization Transformation: To ensure adaptability to uncertainties and robust business growth in the future, GC opt imizes i ts human resource management to match the efficiency of other companies in the same industry and gain international recognition for its commitment to employee well-being. GC also strives to strengthen supporting units and lay down the foundation for effective Governance, Risk management and internal control, and Compliance (GRC), so as to assure GC’s stakeholders of its transparency, accountability, and corporate governance. 13 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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