Thai Union achieves B rating from CDP for tackling climate change threats, driven by SeaChange(R) 2030 sustainability strategy

Thursday 08 February 2024 15:59
Thai Union achieved a B rating from CDP for its transparency and action against climate change, higher than the global and Asia regional average of CThe Company also received a xx distinction in the S&P Global Sustainability Yearbook 2024 for xxxx.Thai Union Group PCL, the world's seafood leader, has achieved a B rating from global environmental disclosure non-profit CDP for its commitment and transparency in addressing the threats from climate change. The recognition comes just six months after the Company launched ambitious climate change goals under its global sustainability strategy, SeaChange(R) 2030.
Thai Union achieves B rating from CDP for tackling climate change threats, driven by SeaChange(R) 2030 sustainability strategy

The rating for Thai Union, which was evaluated by CDP for the first time, is above the global and Asia regional average of C, and surpasses the average B- rating for the food and beverage processing sector. The Company received A ratings in four areas: Scope 3 emissions, climate change targets, emissions reduction initiatives and low carbon products, and governance.

CDP, which campaigns for greater transparency and action, scored more than 21,000 companies based on information reported through its climate change, deforestation, and water security questionnaires.

"At Thai Union, we recognize that climate change is becoming an increasing threat to our planet and threatening critical ecosystems. Through our global sustainability strategy, SeaChange(R) 2030, Thai Union is tackling these threats head on through 11 interconnected goals that will have a significant global impact and support our work towards greater environmental stewardship," said Adam Brennan, Chief Sustainability Officer at Thai Union. "This includes aiming for a 42 percent reduction in Scope 1, 2 and 3 greenhouse gas emissions by 2030 and achieving net zero by 2050. Critically, both have been verified by the Science Based Targets Initiative (SBTi) and are in alignment with the Paris Agreement."

Thai Union has committed its entire 2022 net profit of THB 7.2 billion (USD 200 million) to SeaChange(R) 2030, which also includes a contribution of THB 250 million (more than USD 7 million) towards the protection of critical ecosystems. The Company is also committed to ensuring zero deforestation across its supply chain, and implementing zero water discharge, zero waste to landfill and zero food loss at its five key global facilities.

Separately, Thai Union has been recognized as being among the world's highest performing sustainable companies with a listing in the S&P Global Sustainability Yearbook 2024. Thai Union was ranked in the Top 10% S&P Global ESG Scores in the food industry after being assessed in areas including biodiversity, climate strategy, health & nutrition, human rights, and supply chain management. More than 9,400 companies were assessed in the 2023 Corporate Sustainability Assessment (CSA), with only 759 companies included in the 2024 Sustainability Yearbook.

The recognition from CDP and S&P Global comes after Thai Union was listed on the Dow Jones Sustainability Indices (DJSI) for the 10th straight year in 2023 and ranked number one on the Seafood Stewardship Index for the third consecutive time for delivering towards the United Nations Sustainable Development Goals.

Source: Thai Union Group