Our Sustainability Report
IRPC publishes sustainability report annually to communicate issues that are material to corporate sustainability and are of interest to stakeholders. Specifically, to earn the trust of all involved stakeholders, IRPC reports sustainability targets and results of goal achievements which are primarily set to balance economic, social, and environmental factors. The reporting progress status has been written for the compliance with the principle of United Nations Global Compact: UNGC. This report has been prepared in accordance with GRI Sustainability Reporting Standard “Core” Option and Oil and Gas Sector Disclosure. The scope of this report covers IRPC’s sustainability context, materiality, completeness, and stakeholder inclusiveness, all of which are reported in the highest quality to conform to Principles for Defining Report Quality. In addition, IRPC ensures that our sustainability report is of international standards by reporting with accuracy, balance, clarity, comparability, reliability, and timeliness. Furthermore, IRPC’s sustainability report has been verified by external party to align with GRI standard and ensure confidence to stakeholders that information disclosed is accurate.
Scope of the Report
Information disclosed covers business that operated by IRPC Plc., including its subsidiaries with more than 50% share held by IRPC, which comprises of 1) IRPC Oil Co., Ltd., 2) IRPC A&L Co., Ltd., 3) IRPC Technology Co., Ltd. and 4) I Polymer Co., Ltd. Furthermore, it also includes Rak Pa Sak Co., Ltd., another company in which IRPC’s subsidiaries hold more than 50% shares.
IRPC addresses issues that are material to stakeholders and within the context of sustainability. The identified issues cover governmental regulations and megatrends of business operations, such as COVID-19, cybersecurity, climate change, water security, urbanization, and plastic waste management. Moreover, issues that are addressed in reputable organizations, like World Business Council for Sustainable Development (WBCSD), United Nations (UN), United Nations Development Programme (UNDP), RepRisk, SustainAbility, World Economic Forum, SDGs, NSTDA, DJSI, and GRI are taken into consideration together with corporate risk, sustainability management policy, business directions, and operations. Past materiality assessment results are used to prioritize new material issues that affect IRPC’s sustainable business operations and assess the organization’s policy. IRPC’s material issues are disclosed in the organization’s sustainability report and website.
Sustainability Materiality Assessment Procedure
Outcome of IRPC’s Sustainability Materiality Assessment (GRI–102–47)
IRPC’s Sustainability Material Issues
IRPC is committed to identifying relevant material issues under the sustainability context by covering all three factors of economic, environment, and social. In accordance to the GRI standard, IRPC ensures that all material issues, scope of impact, and topic reported are reevaluated for each year. Following from 2019, IRPC enhances its material assessment procedure by ensuring that updated innovation and technological strategies, such as circular economy and cybersecurity are valued with high significance to align with IRPC’s corporate strategy in 2020.
In 2020, IRPC identified the material issues that encompasses high business and stakeholder significance which includes the following:
Scope of Impact
Sustainability Report 2020
Innovation and Product Development
Human and Organization Development
Occupational Health and Safety
Social Well-being and Creating Shared Value
Climate Change and Water Management
Customer Relationship Management
Risk & Crisis Management
Governance, Business Ethics, and Compliance