TCP Group unveiled its 2023 Sustainability Report, "Net Zero Transition?From Commitment to Action," showcasing the company's performance across all sustainability dimensions in alignment with the ESG (Environmental, Social, and Governance) concept, highlighting the power of cooperation from all sectors in accelerating the drive towards the goal of Net Zero. Key achievements include reducing greenhouse gas emissions by up to 15% and increasing the use of renewable energy by more than 5.71%. Additionally, TCP Group is initiating the TCP Sustainability Forum 2024 to promote collaboration and share insights on Thailand's water challenges and preparedness, an urgent issue that needs to be "accelerated" with intensified efforts.
Mr. Saravoot Yoovidhya, Chief Executive Officer of TCP Group, said, "2023 was a year of significant economic, social, and environmental challenges. Global issues involving energy, logistics, and geopolitics have impacted the economy. Notably, environmental challenges, such as severe climate change and the hottest year on record underscore the urgency of these environmental concerns. Efforts to reduce greenhouse gases and meet global and national targets must be evaluated to ensure they effectively address current challenges."
"We're pleased to report that TCP Group has made significant progress in achieving our sustainability goals. Our overseas investments have expanded in alignment with our sustainability operations, we've increased the proportion of renewable energy used, and we've reduced greenhouse gas emissions through the cooperation of all parties to achieve our goal of Net Zero. Additionally, our water management efforts have resulted in returning more water to communities and the environment than we use in the production process, reaffirming our success in transforming commitment into action," said Mr. Saravoot.
Expanding overseas investments alongside sustainability operations
TCP Group has implemented sustainability operations in every location it operates, adhering to the ESG concept. In terms of governance, involving responsible corporate governance and risk management, the company has opened a new Red Bull production base factory in Sichuan Province, China, with an investment budget of over 10 billion baht. This facility uses a high-efficiency production line with world-class energy conservation standards (LEED Certification). Additionally, TCP Group has opened its first production base factory in Nepal in collaboration with Saras Beverages, installing machinery that meets the highest environmental and safety standards and sourcing more than half of the factory's electricity from renewable energy.
Accelerating the low-carbon economy towards the Net Zero goal
In terms of environmental initiatives, TCP Group aims to achieve carbon neutrality by 2050 and net zero greenhouse gas emissions by 2065. In 2023, TCP Group was recognized as one of 16 organizations receiving an outstanding level award from the Thailand Greenhouse Gas Management Organization (Public Organization), out of 77 leading organizations in greenhouse gas management. In addition, the company has reduced greenhouse gas emissions by up to 15% compared to the base year of 2021 and increased the use of renewable energy from biomass fuel and solar power by 5.71% from 2022.
In addition, the main products of TCP Group, including Kratingdaeng, Red Bull, Ready, Warrior, Som Plus, Sponsor, Mansome, and Puriku, have been certified through the carbon footprint product assessment.
All beverage packaging by TCP Group is now 100% recyclable
Currently, all of TCP Group's beverage packaging is 100% recyclable. The company has advanced its sustainable packaging development by eliminating the use of colored PET plastic bottles, switching all labels from PVC plastic to PET, reducing the weight of PET plastic by 5.7%, and changing Kratingdaeng glass bottles from square to round, reducing their weight by 12%. Furthermore, the circular economy concept is applied throughout the company's business processes. In collaboration with partners across the value chain, TCP Group successfully collected a total of 430 tons of packaging in 2023.
Returning more than five times the amount of water used in production back to communities and the environment
TCP Group promotes sustainable water management by aiming to return more water to nature and communities than is used in the production process (Net Water Positive) by 2030. Through the significant "TCP Embracing Thailand's River Basin" project, the company plans to replenish both surface and groundwater in three river basins: Yom river basin, Mekong river basin, and Bang Pakong river basin.
"The TCP Embracing Thailand's River Basin project has returned more than 17 million cubic meters of water between 2019 and 2023, which is over five times the amount used annually in our production process. This initiative has benefited more than 42,000 households by providing sufficient water sources for consumption and agriculture, resulting in improved quality of life and generating income for farmers. This effort supports the ESG concept by promoting sustainability in both environmental and social criteria, achieved through cross-party cooperation. This includes our main production plant in Prachin Buri Province, which exemplifies this commitment by managing water using the 4Rs principle: Resource, allocating water storage areas; Reduce, conserving water use; Reuse, increasing the reuse of water in various activities; and Recycle, recycling treated water in activities outside the production process," added Mr. Saravoot.
Additionally, TCP Group is preparing for sustainable water management with the goal of achieving certification by Alliance for Water Stewardship Standard (AWS) by 2025.
Moving forward with a major seminar focused on "water"
Recognizing the importance of water, TCP Group is preparing to host the TCP Sustainability Forum 2024 with the theme "Water Resilience in a Changing Climate," bringing together academics, conservationists, and representatives from the government and private sectors to discuss the water challenges while emphasizing the urgency of collective action, particularly in enhancing Thailand's readiness to adapt to changes. This event is scheduled for August. Follow updates at Facebook at TCP Group.
"TCP Group aims to create positive impacts on the environment and society, driving towards sustainable ESG. The sooner we act, the better it will be for everyone involved. In an era of rapid environmental change, we must quickly develop flexible water management strategies to cope with future challenges, as these may evolve in unexpected ways," said Mr. Saravoot.
Learn more about the sustainability report on the TCP Group website.