Climate Strategy Opportunities and Challenges The COP26 summit urged countries to set more ambitious greenhouse gas reduction targets to keep a rise in global average temperature within 1.5 degrees Celsius compared to pre-industrial levels, to achieve the target of net-zero emissions by 2050. The UN conference also called for more stringent global trade rules to accelerate green transition. Mindful of such challenges, IRPC is fully prepared and determined to continue to roll back greenhouse gas emissions according to PTT Group’s guidelines. Greenhouse gas emission targets and plan of actions have been reviewed and new targets set to further cut back emissions in all operational processes and continue investing in projects that reduce emissions and promote renewable energies. Material Issues Key climate change performance IRPC reviewed its corporate strategy to correspond with climate 2021, IRPC identified climate change as one of its sustainability challenges brought on by climate change, a target is set to reduce GHG emissions in 2030 to 20 per cent below the business-as-usual level. The Company was also reviewing targets aimed to achieve net-zero GHG emissions together with PTT Group. In 2021, a new target of direct and indirect GHG emissions was set at not more than 4.14 million tons of carbon dioxide equivalent. However, due to the use of coal in 2021 to generate electricity at IRPC’s power plants, the amount of GHG emissions was 4.34 million tons of carbon dioxide equivalent. IRPC remains committed to reduce GHG emissions by implementing energy conservation projects to minimize emissions and an unwavering quest for clean energy alternatives to coal. Short-term indicators • The amount of direct and indirect greenhouse gas emissions of IRPC in 2021 did not exceed 4.14 million tons of carbon dioxide equivalent. Long-term indicators • Control the amount of greenhouse gas emissions by reducing GHG emissions in 2030 to 20 per cent below the business-as-usual level. • The amount of direct and indirect GHG emissions of IRPC in 2021 was 4.34 million tons of carbon dioxide equivalent • Senior management KPIs • Executive Committee and employee KPIs Short-term/long-term indicators Enterprise level indicators Performance 155 Business-driven sustainability IRPC PUBLIC COMPANY LIMITED
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