In order to reduce the environmental footprint of our business operations, we adopt diverse solutions for energy & climate change management. These include new initiatives and collaborative actions that drive environmental innovation, both within our operations and across the value chain. In 2022, Osotspa implemented numerous energy saving initiatives with the objectives of minimizing energy use, promoting use of renewable energy, and lowering greenhouse gas emissions from our business activities.
In 2022, Osotspa conducted a risk and opportunity assessment in accordance with the international operating framework of TCFD - Task Force on Climate-related Financial Disclosures. The assessment covers aspects such as physical risks, transition risks, etc.
Osotspa is conscious of the adverse impact our business may have on the environment. To reduce environmental footprint, the Company prioritizes efficiency enhancement. Such enhancement is achieved by streamlining our processes and managing energy consumption in our business operations. The Company also believes that energy Osotspa is conscious of the adverse impact our business may have on the environment. To reduce environmental footprint, the Company prioritizes efficiency enhancement. Such enhancement is achieved by streamlining our processes and managing energy consumption in our business operations. The Company also believes that energy-efficient operations enable the business to be more competitive via reduction of energy costs. We are committed to our 2025 target of reducing energy intensity by 15% compared to the 2018 baseline. To this end, the Company shall continue to implement diverse energy saving initiatives across our operations
Osotspa believes that greater use of renewable energy sources such as wind, solar, biogas and biomass helps reduce reliance on conventional energy sources which tend to be huge contributors to global warming emissions. To support the mitigation of climate change, we are actively exploring portfolio diversification into renewable energy projects that reduce Green House Gas emissions, in line with the UN SDGs.
In line with the UNGC Communication on Progress (COP) & Thailand’s Climate Change Policy, Osotspa is committed to reducing greenhouse gas emissions across our operations. We continue to develop new initiatives and seek alternatives to reduce carbon footprint.
To identify carbon reduction measures, the Company tracks Direct and Indirect greenhouse gas emissions (Scope 1&2) in accordance with the standards of the Thailand Green House Gas Organization (TGO) - Guidelines on GHG Accounting and Reporting for Organizations