Message from Chairman and CEO
Standing Firm on Good Governance: Overcoming Challenges to Sustainable Opportunities
Over the past year, the global industry faced complex, interconnected structural challenges across multiple dimensions, including geopolitical pressures, trade policies, global economic volatility, and increasingly stringent environmental regulations—such as CBAM measures, PPWR trends, the sustainability disclosure framework under IFRS S1 and IFRS S2, and emerging Climate Change laws that set new standards for businesses worldwide.
Amid this context, the Company remains steadfast in its vision to be a global leader in comprehensive packaging innovation, while committing strongly to sustainable business operations. The Board of Directors places utmost importance on integrating ESG principles into the corporate strategy under the THIP Circular ECO Way concept, which reflects growth founded on a balanced equilibrium among economy, environment, and society.
The Board has clearly defined strategic sustainability directions, particularly the transition to a low-carbon economy and the reduction of climate change impacts—a critical challenge for the industry today. This includes medium-term targets for significant greenhouse gas emission reductions and long-term goals to achieve net zero emissions by 2050, within a timeframe aligned with international standards. These targets are not merely environmental commitments but integral parts of a strategy to enhance competitiveness and manage systemic risks for the future.
At the same time, the Board emphasizes creating new business opportunities alongside improving resource efficiency, fostering innovation, and generating shared value with all stakeholders. This strengthens the organization’s resilience and stability, as we believe true sustainability is built on a foundation of robust governance.
The Board is confident that a clear, steadfast direction—combined with the adaptability of management and personnel—will drive the organization through challenges toward long-term sustainable growth. We will continue conducting business with full responsibility, integrity, and transparency to deliver balanced, sustainable growth for every stakeholder.
Finally, the Company extends sincere thanks to all stakeholders—customers, partners, business allies, shareholders, and every employee—for their unwavering trust, support, and excellent cooperation. This collective strength has been vital in propelling the organization forward to grow steadily and overcome all challenges with resilience.
The world is currently entering an era of significant transition in economy, technology, and environment.
The volatility of the global economy, geopolitical uncertainties, energy challenges, and climate change have become key factors determining the direction of global business. Organizations that can adapt rapidly and operate responsibly and sustainably will grow and create stable long-term value.
Thantawan Industry Public Company Limited (THIP) recognizes that organizational growth in the new era cannot be measured solely by business performance but must create value for the economy, society, and environment together. The Company therefore conducts business under the sustainable development concept by integrating business growth with environmental impact management and balanced social development.
“I am confident that for THIP, business growth and the sustainability of the world must go hand in hand. Our packaging innovations therefore do not aim only to meet customer needs but must also meet the needs of the world’s future.”
In the economic dimension,
The Company continues to strengthen its customer base both domestically and internationally, emphasizing main markets in Europe and the United States with high potential. At the same time, the Company has expanded the role of its group companies in Vietnam to support revenue growth and increase business structure diversity, helping to enhance the organization’s flexibility and competitiveness in the long term.
In the environmental dimension,
The Company drives the organization toward a low-carbon entity through continuous improvement in energy and resource efficiency. In the past year, the Company implemented Solar Rooftop projects (Phase 2 and Phase 3) to increase the proportion of clean energy, reduce dependence on external energy, and support the organization’s energy transition, resulting in significant reduction in Scope 2 greenhouse gas emissions.
At the same time, the Company has developed a systematic greenhouse gas management system by measuring and certifying the Carbon Footprint for Organization (CFO) to identify emission sources, plan, and set effective reduction measures in line with decarbonization and the organization’s long-term sustainability goals.
In addition, the Company promotes efficient resource use in production by reducing waste and increasing the proportion of material reuse, reflecting its commitment to implementing the Circular Economy concept in practice.
In the social dimension,
The Company believes that organizational sustainability starts from personnel potential and thus prioritizes continuous development of employee knowledge, skills, and potential through key projects such as ESG DNA and THIP Academy to enhance workforce capability and prepare new-generation leaders for the organization’s future.
For the direction of future operations, the Company will focus on three key strategies:
- Development of environmentally friendly products and low-carbon materials (Green Products & Low-Carbon Materials)
- Elevation of operational efficiency (Operational Excellence)
- Enhancement of personnel capability (People Capability)
To strengthen competitiveness in the rapidly changing global economy.
The Company believes that the packaging industry plays an important role in supporting the transition to low-carbon and circular economy at global level. The Company therefore aims to develop packaging innovations that meet customer needs while reducing environmental impacts to contribute to the sustainable development of the industry.
On this occasion, the Company thanks the Board of Directors, management, employees, shareholders, customers, partners, communities, and all business partners for their continued trust and support. Cooperation from all sectors is the key power that helps the Company overcome challenges and advance to stable and sustainable growth. The Company will continue to build a strong, transparent, and responsible organization to create long-term value for all stakeholders.
