PTT outlines path to net zero at Sustainability Forum

PTT Plc has unveiled its business strategy aimed at achieving net zero emissions and other sustainability goals.

The national oil and gas conglomerate outlined the strategy at the "Sustainability Forum 2025: Synergizing for Driving Business" organised by Krungthep Turakij newspaper, a media arm of Nation Group. The two-day event kicked off on Tuesday at Paragon Hall in Bangkok’s Siam Paragon.

PTT aims to achieve carbon neutrality by 2040 and reduce net carbon emissions to zero by 2050, 15 years earlier than Thailand’s target, Rathakorn Kampanathsanyakorn, PTT’s senior executive vice president of corporate sustainability, said during the event on Wednesday.

He noted that PTT’s continued sustainability efforts have resulted in its listing on the Dow Jones Sustainability Indices (DJSI) since 2013.

“PTT has a clear strategy to create sustainable growth while protecting the environment,” said Rathakorn. “Moving forward, growth must be pursued alongside carbon reduction, ensuring that the economy progresses in tandem with society and communities.”

He said the company’s ESG (environmental, social, and governance) policy must be driven by business initiatives based on the C3 principles, comprising:

• Climate-resilient business: Adjusting the investment portfolio to focus on low-carbon businesses
• Carbon-conscious assets: Improving existing assets by reducing carbon emissions with the help of modern technologies
• Carbon reduction efforts, such as collaborating in reforestation projects and investing in CCS (carbon capture and storage), hydrogen technology, and SMR (small modular reactors)

“To ensure PTT grows in tandem with Thailand, we will collaborate within the PTT Group as well as with partners both domestically and internationally,” said Rathakorn. “Transitioning to a low-carbon business portfolio means identifying the strengths of each entity and focusing on those areas.”

For example, PTT’s subsidiary Global Power Synergy Plc (GPSC), which specialises in clean energy, may need to study nuclear technology as well, he said.

Meanwhile, Global Chemical Plc (GC) will focus on low-carbon products, while Thai Oil Plc (TOP) will invest in bio-aviation fuels to sell via PTT Oil and Retail Business Plc (OR). Additionally, OR will support the electric vehicle (EV) ecosystem by continuing to install charging stations at PTT service centres nationwide.

Rathakorn added that PTT Exploration and Production Plc (PTTEP) has initiated Thailand's first CCS project. The project, at the Arthit Gas Field, is expected to cut greenhouse gas emissions by 1 million tonnes of carbon equivalent per year.

PTT is also planning to import clean energy, such as hydrogen, to replace 5% of natural gas used in electricity generation by the year 2030, which will help reduce the company’s and Thailand’s carbon emissions in the future.

"Collaboration with related parties and investments in two new areas, CCS and hydrogen, will be key to achieving the net zero target. Our ultimate goal is to provide clean energy at an affordable price to all Thais,” said Rathakorn.