OR sets up new sustainable goals to transform into green retailer
In an effort to establish sustainable growth, PTT Oil and Retail Public Co Ltd (OR) has come up with its own sustainable development goals (OR SDG : S-Small, D-Diversified and G-Green) and will strongly focus on ‘G-Green’ or environmental aspects.
OR aims to transform itself into a green retailing business that can promote a low-carbon society. The G-Green part in OR SDG also cover Thailand’s target for achieving carbon neutrality by 2030 and zero greenhouse gas emissions by 2050.
Sustainable development is one of the most important goals of business operations as it relates directly to the survival and growth of businesses in the long run. OR, Thailand’s top retailer of oil and related businesses, does not just strive to increase business turnover, it also prioritises conducting businesses that create growth and support all parties.
Using the ESG framework that focuses on responsibilities in the aspects of environment, social and (corporate) governance, OR has set up its own SDGs that will help it achieve its goals efficiently.
The SDGs prioritise “green” policies with the aim of achieving the agency’s goals of reducing greenhouse gas emissions throughout its operations as well as boosting the use of clean energy and energy efficiency in its buildings. The company also aims to reduce waste from its business operations by a third, compared to its total waste in 2018.
Carbon neutrality, net-zero goals
To achieve carbon neutrality by 2030 and zero emissions by 2050, OR and other PTT subsidiaries have signed a memorandum of understanding with the Royal Forest Department, the Department of National Parks, Wildlife and Plant Conservation, and the Department of Marine and Coastal Resources to plant 2 million rai of forest. The project will help in carbon sequestration, the process of absorbing and storing atmospheric carbon dioxide with the goal of tackling climate change. The MoU also covers the promotion of participation from local communities in forest resource conservation.
In addition to environmental goals, OR has set additional corporate goals in two aspects, which will also be completed within 2030. The goals will focus on people and performance to create opportunities to grow together with society, while maintaining good business performance.
The goals from the people’s aspect are to improve the quality of life of more than 12 million people in over 15,000 communities where OR operates as well as surrounding areas.
While performance goals aim at creating growth and career opportunities as well as economic prosperity for trade partners, shareholders, micro, small and medium enterprises (MSMEs), employees, and community members of over 1 million people, mainly through building business partnerships.
OR’s SDGs are also meant to serve as a reflection of the company’s commitment to driving business and community toward sustainability in line with its vision of “Empowering All toward Inclusive Growth”.
