ไทยCLIMATE CHANGE MANAGEMENT
Greenhouse Gas Management
In line with its mission to be a leader in comprehensive and sustainable real estate services, the Company recognizes the importance of adapting to climate change and proactively managing climate-related risks that may cause short- and long-term impacts on the business. The Company assesses both physical risks, such as floods, droughts, and storms, which may damage assets, disrupt business operations and supply chains, or affect the health and safety of stakeholders; and transition risks, including increasingly stringent laws, regulations, and government policies related to climate change and environmental standards. The Company has established a comprehensive Climate Change Management Policy covering all business processes. It implements mitigation and adaptation measures, conducts natural disaster risk assessments, and integrates climate-related risks and opportunities into its overall business strategy.
Net Zero Emissions Target
Covering Scope 1,2 and 3
50%
Greenhouse Gas Emissions Reduction
2035
Carbon Neutrality
2044
Net Zero
2050
The Company has set a Goal to achieve Net Zero greenhouse gas (GHG) emissions by 2050 (B.E. 2593) and Carbon Neutrality by 2044 (B.E. 2587). To achieve these GHG reduction Goals, the Company has established implementation guidelines, measurable Goals, key performance indicators (KPIs), and risk and impact assessments. The Company also conducts an annual review of its Goals and performance to ensure alignment with current circumstances and evolving climate-related developments.
Management Approach
The Company recognizes the significance of climate change and its potential direct and indirect impacts on business operations. Accordingly, the Company is committed to developing strategies aligned with ESG principles and government policies to strengthen long-term sustainability and competitiveness.
Roles and responsibilities related to climate change oversight have been clearly defined at both Board and management levels.
The Executive Committee has incorporated climate change into the organization’s environmental objectives and established an Environmental and Climate Change Working Committee, chaired by a senior executive. This committee is responsible for overseeing and implementing climate-related initiatives under the following management framework:
- Assess climate-related risks to establish preventive and adaptive measures.
- Monitor the organization’s carbon footprint and implement GHG reduction measures.
- Improve energy efficiency and promote the use of clean energy.
- Enhance energy and resource efficiency, reduce energy consumption, and select environmentally friendly materials in business operations.
- Manage resources and waste effectively to reduce GHG emissions.
- Promote collaboration and stakeholder engagement (e.g., employees and residents) to raise awareness of climate change.
Roles and Responsibilities of the Board and Executives Related to Climate Change
Board of Directors
Role: The highest approving authority and the body accountable for the Company’s sustainability.
Responsibilities: Establish the direction, strategies, and approve policies related to climate change.
- Approve long-term targets, such as achieving Carbon Neutrality or Net Zero.
- Oversee the integration of climate-related risk management into the Company’s business strategy.
Corporate Governance and Sustainability Committee
Role: Review and oversee policies at the governance level.
Responsibilities: Review greenhouse gas reduction plans and targets prior to proposing them to the Board of Directors.
- Monitor progress against environmental Key Performance Indicators (KPIs) on a quarterly basis.
- Provide recommendations on new laws and international standards, such as the Climate Change Act B.E. 2568 (2025).
Corporate Governance and Sustainability Subcommittee
Role: Drive the implementation of strategies and review relevant information.
Responsibilities: Analyze climate-related risks and opportunities in line with the Task Force on Climate-related Financial Disclosures (TCFD) framework and propose them to the Board.
- Review the accuracy of sustainability reports and carbon emissions data.
- Coordinate between the policy and operational levels to ensure organization-wide integration.
Chief Executive Officer (CEO) and Senior Executives
Role: Lead transformation and manage organizational resources.
Responsibilities: Drive the implementation of policies across all business units.
- Allocate resources, budgets, and technologies necessary to support carbon reduction initiatives.
- Communicate the importance of climate action and foster a climate-conscious organizational culture.
Environmental and Climate Change Working Committee
Role: Operational implementation and technical data management.
Responsibilities: Collect and calculate the Company’s Corporate Carbon Footprint (CCF) data annually.
- Propose initiatives to reduce energy consumption and improve waste management within buildings and offices.
- Prepare performance reports for submission to the Subcommittee.
Climate change management is one of the Company’s sustainability KPIs, which apply to the CEO, senior executives, and relevant employees responsible for sustainability indicators, including greenhouse gas emissions reduction, water usage, and sustainability assessments.
Climate change management is incorporated into the Company’s sustainability KPIs and applies to the CEO, senior executives, and relevant employees. These KPIs include GHG emission reduction, water consumption efficiency, and sustainability performance assessments.
The Corporate Governance and Sustainability Committee is responsible for setting GHG reduction Goals and action plans, and for monitoring performance reported by the Environmental and Climate Change Working Committee on a quarterly basis. This ensures effective control of GHG reduction performance and continuous improvement of climate-related strategies.
Greenhouse Gas Emissions
Greenhouse Gas | Unit | 2023 Performance | 2024 Performance | 2025 Performance |
Total Greenhouse Gas Emissions | TonCO2e | 757 | 1,488 | 944 |
Scope 1Direct Emissions | TonCO2e | 43 | 1,107 | 140 |
Scope 2Indirect Emissions (from Purchased Electricity) | TonCO2e | 100 | 90 | 436 |
Scope 3Other Indirect Emissions | TonCO2e | 614 | 291 | 368 |
Greenhouse Gas Emissions Intensity (Scope 1 and Scope 2) per Unit of Revenue
Greenhouse Gas | 2023 | 2024 | 2025 |
Intensity (Unit: tCO₂e per million Baht) | 0.08 | 0.73 | 0.31 |
In 2025, the Company recorded total greenhouse gas (GHG) emissions of 944 tCO₂e, representing a decrease from 1,488 tCO₂e in 2024. The Company’s emissions comprised Scope 1 emissions from direct fuel consumption in organizational activities amounting to 140 tCO₂e, Scope 2 emissions from purchased electricity consumption totaling 436 tCO₂e, and Scope 3 emissions from other indirect activities within the Company’s value chain totaling 368 tCO₂e.
When considering GHG emissions intensity (Scope 1 and Scope 2) per unit of revenue, the Company recorded an emissions intensity of 0.31 tCO₂e per million baht of revenue in 2025, a decrease from 0.73 tCO₂e per million baht of revenue in 2024. This reflects the Company’s improved efficiency in energy management and its enhanced capability in controlling greenhouse gas emissions.
The Company remains committed to continuously implementing measures to reduce greenhouse gas emissions through enhancing energy efficiency, improving resource management, and promoting environmentally responsible practices within the organization, in order to support sustainable business operations and contribute to mitigating the impacts of climate change.
The Company has prepared its organizational greenhouse gas (GHG) inventory, covering emissions across all three scopes, and has designated 2025 as the base year for tracking and comparing performance in the future. The reported GHG emissions are currently undergoing verification by an accredited third-party verifier, Bureau Veritas Certification (Thailand) Ltd., in accordance with international standards ISO 14064-1:2018 for organizational GHG inventory quantification and reporting, and ISO 14064-3:2019 for verification and validation of GHG statements. The verification process is currently ongoing. In addition, Advance Energy Plus Co., Ltd. was appointed as the consultant for the preparation of the Company’s GHG emissions report in accordance with ISO 14064-1 for the year 2025.
Key Initiatives to Reduce Greenhouse Gas Emissions
The Company places significant importance on managing the impacts of climate change and is committed to continuously reducing greenhouse gas (GHG) emissions from its operations. In 2025, the Company participated in the Jump+ (Jump Plus) Program, an initiative organized by the Stock Exchange of Thailand (SET) to support listed companies in establishing targets and systematically implementing measures to reduce greenhouse gas emissions.
Under this program, the Company has set a target to reduce greenhouse gas emissions from its operations by no less than 7% by 2028, compared with the 2025 base year. The Company aims to achieve this target by enhancing energy efficiency, promoting efficient resource utilization, and improving operational processes to become more environmentally friendly.
Key Issues | Base Year (tCO2e) | Target | ||
% Reduction | ||||
2025 | 2026 | 2027 | 2028 | |
Greenhouse Gas Emissions Reduction | 944 | 3% | 5% | 7% |
Strategic Projects | Year | Expected Outcomes |
Establishing guidelines for responsible driving behavior for company vehicles and studying the transition to energy-efficient vehicles. | 2026 | Reduce Scope 1 greenhouse gas emissions by at least 3% through the preparation of a transition plan to adopt energy-efficient rental vehicles and by promoting fuel-efficient driving behavior. |
2027 | Reduce Scope 1 greenhouse gas emissions by at least 5% through replacing at least 50% of rental vehicles with energy-efficient models and promoting the use of biofuels. | |
2028 | Reduce Scope 1 greenhouse gas emissions by at least 7% through efficient driving measures, regular vehicle inspections, and effective route planning. | |
Selecting environmentally friendly cleaning products certified with Green Label or equivalent eco-labels, with biodegradable properties. | 2026 | Reduce Scope 3 greenhouse gas emissions by at least 3% from the base year through the development of a “Green Product List” and improvements in the use of cleaning materials. |
2027 | Reduce Scope 3 greenhouse gas emissions by at least 5% from the base year by increasing the use of Green Label or biodegradable cleaning products to at least 15% of total materials used. | |
2028 | Achieve a total reduction of Scope 3 greenhouse gas emissions of at least 7% by increasing the proportion of environmentally friendly products to at least 30% of total materials used. |
Identified Risk | Risk Description | Risk Impact | Risk Mitigation Measures |
1. Risk related to the readiness of personnel and supply chain for the transition | Employees, contractors, or suppliers may lack sufficient understanding of low-carbon business practices. | Carbon reduction plans may not achieve the intended targets or operational errors may occur during implementation. | Provide environmental knowledge and low-carbon transition training for employees and key suppliers. Establish monitoring and evaluation systems to track progress. |
2. Higher-than-expected costs of Green Label or environmentally friendly materials | Green Label or biodegradable products may be more expensive than conventional products and exceed the planned budget. | Increased operational costs may affect the company’s overall budget. | Negotiate with manufacturers, identify alternative suppliers, and implement a Green Procurement Plan to control costs and optimize operational practices to reduce material usage. |