Internal Carbon Pricing In 2021, IRPC adopted the concept of internal carbon pricing (ICP), or shadow price, in evaluation and decision-making on green projects and investments, alongside other financial tools, such as internal rate of return (IRR). IRPC set an ICP US$20/tCO2e in accordance with the guidelines on the determination CarbonEmissionsManagementCertification IRPC is committed to play an active role in reducing GHG emissions in Thailand and at international level through participation in the Conference of Parties (COP) under the United Nations Framework Convention on Climate Change. The Company applied for Carbon Footprint for Organization Certification (CFO) certification, Carbon Footprint of Products (CFP) certification and Carbon Footprint Reduction Label, to reduce emissions from its operations, lower cost of resources and create new opportunities for growth and improvement in competitiveness. IRPC has for seven consecutive years taken part in the Carbon Footprint for Organization (CFO) project, organized by the Federation of Thai Industries with financial support from Thailand Greenhouse Gas Management Organization (TGO). The project offers tools to help companies manage their carbon emissions by quantifying and reporting reduction in GHG emissions from operational activities, such as fuel combustion, electricity consumption, waste management and transportation. In 2021, IRPC obtained the Carbon Footprint Reduction Label from the TGO for four production plants: CHP & PW, DCC, UHV and LBOP. In addition, IRPC applied to the TGO for Carbon Footprint Labels for 6 products: power, combine heat and power, tap water (from Ban Khai) and IP water filtration plant) along with demineralized water for the of carbon pricing and low carbon investment as recommended by Thailand Greenhouse Gas Management Organization (TGO) in collaboration with World Bank. Such green investments include the Floating Solar Phase II 9.0 MW for PP Plant, VDU Heater Energy Efficiency Improvement for Lube Plant. production processes of the factory and has been certified for renewal of the Carbon Reduction Label from the Thailand Environment Institute Foundation in the following plastic pellet products under POLIMAXX trademark: • Polypropylene plastic (PP) products for PP Homo Polymer products (69,787.49 tCO2e per year); PP Random Copolymer (20,043.57 tCO2e per year); and PP Block Copolymer (14,171.46 tCO2e per year). • Expandable Polystyrene (EPS) for STD type (Standard type) (3,430 tCO2e per year) and SE TYPE (Self extinguishing type) (3,430 tCO2e per year). • Polystyrene plastic (PS) products for High Impact Polystyrene (HIPS) (3,932 tCO2e per year) and General Purpose Polystyrene (GPPS) products (3,844 tCO2e per year). 157 Business-driven sustainability IRPC PUBLIC COMPANY LIMITED
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