Sustainability investment doubled by Thai union to profit oceans and communities

Unrelenting in his pursuit of sustainability, Thiraphong Chansiri, CEO of Thai Union Group PCL, a dominant player within the international seafood manufacturing scene, divulged pivotal developments within the company’s ecological strategy.
Always on Confidential of advocating sustainable enterprise practices, Thiraphong defined the profound strain on our oceans, harbouring the livelihood and sustenance of as a lot as 600 million people, notably in lesser developed nations. He is of the agency belief that an escalation in the company’s sustainability goals is an urgent necessity.
Thai Union initially introduced SeaChange in 2016, seeing a colossal investment of US$100 million set aside to revolutionise the seafood sector. This pioneering endeavour has since doubled, climbing to a staggering US$200 million, equal to the Thai Union’s total 2022 web profit of seven.2 billion baht. The amplified funds are anticipated to expedite the SeaChange initiative’s formidable aims for the last decade resulting in 2030.
Thiraphong made clear his understanding of the urgency. He said…
“This vital investment is not only an expense; it is actually for all stakeholders. It is the key to safeguarding our collective sustainable future.”
He elaborates on the worsening state of the surroundings, proclaiming that the time for transformative change is now imminent. SeaChange 2030 is emblematic of this new era of formidable, planet-saving objectives that will restructure the worldwide seafood value chain.
Ambitious in its plan, SeaChange 2030 seeks to invigorate not solely the ecosystem however the very communities that rely upon it. Thiraphong believes the well-being of the people should be prioritised equally to sustainable sourcing and operations. This objective is aligned with 10 of the United Nation’s Sustainable Development Goals to ensure a resilient seafood industry.
Thai Union’s chief sustainability officer, Adam Brennan, made notice of their climate motion commitment.
“Thailand has set itself on a course to realize net zero by 2065. Realising that the meals industry accounts for 26% of worldwide greenhouse fuel emissions, Thai Union Group plans to scale back greenhouse fuel emissions by 42% throughout its production course of and supply chain by 2030 and obtain net-zero emissions by 2050. The company’s efforts to scale back greenhouse gas emissions are supporting the government’s personal web zero goal.”
The firm has also broadened its environmentally aware sourcing pledge past simply tuna, its main focus since 2016. Thai Union will ensure that all its harvested seafood is responsibly sourced or from fisheries associated with enchancment packages.
Shrimp production will be within the spotlight to mitigate its ecological influence and meet industry standards in welfare and working situations. With over 22,000 shrimp farms in Thailand alone, the Thai Union is keen to collaborate solely with suppliers that stay committed to the goals of traceability, environmental safety and fair remedy of workers.
Furthermore, the Thai Union aims to realize 100% sustainable packaging for its branded products by 2025 and advocates for 60% of private label products by 2030. Displacement of 1,500 tonnes of ocean-bound plastic through preventative and mitigative measures may also be at the forefront of their efforts.
The company’s dedication to its labour force is not any much less important. The objective is to realize gender equality on the management level and guarantee adherence to responsible labour practices in all their sourcing vessels and farms. An Ethical Migrant Recruitment Policy is in place to ensure a protected and truthful recruitment journey for migrant workers, stressing the safety of not solely the workers but in addition these within the provide chain.
Thai Union’s commendable contributions to sustainability have earned them consistent recognition by establishments just like the Dow Jones Sustainability Indices, marking the ninth consecutive 12 months in 2022, reported Bangkok Post. Thiraphong said…
“Our dedication to sustainability goes beyond customers and traders; it is now a basic aspect of the company’s identification..

Leave a Comment