Why is this Important?

Climate change directly impacts EGCO Group's production costs, asset risks, competitiveness, and long-term sustainability, leading to higher electricity production costs and making fossil-fuel-based energy less competitive. This situation prompts EGCO Group to expedite adjustments across all areas to address challenges while creating business growth opportunities aligned with energy transitions. Simultaneously, the group is committed to the ESG sustainability framework, ensuring comprehensive value for all stakeholders

To address these challenges, EGCO Group is driving its business under the strategic concept of "Cleaner, Smarter, and Stronger to Drive Sustainable Growth." This forward-looking approach centers on expanding investments in renewable energy, actively reducing carbon emissions, and accelerating feasibility studies for clean and alternative energy technologies, including hydrogen fuel. Additionally, EGCO Group has committed to no new coal investments. The company aims to reduce carbon emissions intensity by 10% and increase renewable energy capacity to 30% by 2030. These efforts support its goals of achieving carbon neutral by 2040 and net-zero emissions by 2050.

Sustainability Material Topic: Climate Change & GHG Emission

Stakeholder Impact on Material Topics

Government Agencies

Customer

Media

Investors

Community

Creditors

Contractors/ Subcontractors

Management Approach

Climate Change Target

Long Term Target
  • Achieve Net Zero by 2050

  • Achieve Carbon Neutral by 2040

  • Reduce carbon emission intensity by 10% by 2030

  • Increase electricity generated from renewable energy to 30% within 2030

2024 Target
  • Increase the electricity generated from renewable energy to 130 MW

EGCO is committed to seek validation from SBTi for both near term target and net-zero target which includes both scope 1, 2 and 3 emissions.

https://sciencebasedtargets.org/companies-taking-action#dashboard
2024 Performance
  • Proportion of EGCO Group’s renewable energy capacity 20.84%

Climate Change Strategy

EGCO Group has established a climate change strategy as a part of its “Cleaner, Smarter and Stronger to Drive Sustainable Growth” business direction.

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Resilient Portfolio

EGCO Group places importance on the Resilient Portfolio by focusing on increasing the share of renewable energy generation, while concurrently reducing the proportion of high-carbon power generation.

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Innovative Business

EGCO Group has set the objective to transform into a highly efficient organization. Driven by innovation and sustainable practices, the company is ready for the transition toward a low-carbon society.

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Enabling Programs

EGCO Group promotes enabling programs by supporting capacity-building initiatives and encouraging stakeholder engagement through the enhancement of risk and opportunities management associated with climate change.

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International Financial Reporting Standards Standard 2 (IFRS S2)

EGCO Group supports voluntary climate-related disclosures. The company reports information in accordance with the recommendations and reporting framework of the International Financial Reporting Standards Standard 2 (IFRS S2) on Climate-Related Financial Disclosures.

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Carbon Credits and Carbon Capture Projects

EGCO Group and its subsidiary power plants collaborated with Thai Rak Pa Foundation, a charitable organization established and supported by EGCO Group. The collaboration includes the commitment to conserve and restore watersheds in key areas of Thailand, as well as continuously supported greenhouse gas reduction projects.

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Related Documents

Policies, Requirements and Performance

Performance Data

Updated as of May 2024

The information reported above was prepared in accordance with the Global Reporting Initiative Standards (GRI Standards). It has been audited by an external party and has received limited assurance through the 2024 Annual Report.