Sustainability Framework
Thai Wah Public Company Limited (TWPC) is a leading agri-food company in Southeast Asia with over 78 years of experience. The Company operates across a diversified portfolio, including cassava starch and related products, food products and food solutions, as well as biodegradable materials.
Thai Wah is committed to its vision of pioneering innovation while conducting business sustainably. The Company continuously develops and innovates, enabling strong and consistent growth and expanding its presence on the global stage.
Today, Thai Wah operates offices and manufacturing facilities across 16 locations in 7 countries and exports to more than 40 countries worldwide. This international footprint reflects the Company’s strong growth potential and opportunities within the global agri-food industry.
Thai Wah is dedicated to driving responsible growth by focusing on resource efficiency, reducing environmental impacts, and advancing sustainability across all aspects of its operations.
Thai Wah’s sustainability governance structure connects oversight from the Board of Directors to operational execution across all levels of the organization, driving sustainable growth through Environmental, Social, and Governance (ESG) principles.
The Board of Directors and the Sustainability Committee are responsible for overseeing, reviewing, and regularly monitoring ESG performance, while the management team drives the implementation of sustainability strategies and integrates ESG considerations into business operations, performance management, and decision-making processes across all functions.
The Company has established organization-wide ESG KPIs and embedded sustainability objectives into the performance metrics of the Chief Executive Officer (CEO) and relevant executives to strengthen the alignment between strategy, performance, and leadership accountability.
ESG related performance indicators are integrated into executive performance evaluation and remuneration frameworks for the CEO and relevant executives, linking sustainability performance with leadership accountability, responsible business practices, and long-term value creation.
This approach reflects Thai Wah’s commitment to building a high performing, future ready, and sustainability driven organization that delivers sustainable growth and creates long-term value for all stakeholders.
Starch & Starch Related Products
The Company’s products in this category include tapioca flour and starch, modified starch, glucose syrup, tapioca pearl, alpha starch, rice flour and starch, and organic products
Food Products
The Company’s products in this category include bean vermicelli, rice noodles, rice vermicelli, starch, flour and pearl, meal kit and instant noodles, and more
Biodegradable Products
Thai Wah has innovated “ROSECO series”, which is a unique type of thermoplastic starch resin, derived from tapioca starch. It can be used in various applications from single-use packaging, agricultural, consumer goods, etc.
Thai Wah has embedded “innovation and sustainability” into the DNA of the organization, translating this commitment into tangible action from “farm to consumer” through its long-term mission — spanning upstream agricultural development to downstream consumer delivery. This vision is driven by four strategic pillars: Farmer Development, Green Factory and Community, Family and Well-Being, and Food and Finished Goods Development. Together, these pillars strengthen the sustainability of the agricultural and food supply chain while ensuring transparent, ethical, and accountable business governance throughout the entire value chain.
Thai Wah is committed to environmentally responsible growth, with a target to achieve Net Zero greenhouse gas emissions by 2050. The company is actively translating its strategy into concrete actions under strong principles of corporate governance, risk management, and regulatory compliance, in order to build trust and confidence among all stakeholders.
Thai Wah Public Company Limited is committed to conducting business sustainably across its entire supply chain. The company supports the global goal of limiting the increase in global temperature to no more than 1.5°C and aims to achieve Net Zero Emissions by 2050, in alignment with Thailand’s national targets and the Paris Agreement. Key initiatives include the following:
Strategic Collaboration
The Company collaborates with PTT Public Company Limited under the “Decarbonizing Thailand Partnership” initiative to develop greenhouse gas reduction approaches and green innovations for the agricultural and food industries.
Trade Association Governance
The Company regularly reviews the climate-related positions and activities of trade associations and organizations of which it is a member to ensure alignment with the low-carbon economy pathway. The Company also constructively encourages improvements where any potential misalignment is identified.
Strategic Collaboration
The Company collaborates with PTT Public Company Limited under the “Decarbonizing Thailand Partnership” initiative to develop greenhouse gas reduction approaches and green innovations for the agricultural and food industries.
Trade Association Governance
The Company regularly reviews the climate-related positions and activities of trade associations and organizations of which it is a member to ensure alignment with the low-carbon economy pathway. The Company also constructively encourages improvements where any potential misalignment is identified.
Upstream Supply Chain
The Company collaborates with farmers and suppliers to promote sustainable agriculture and reduce greenhouse gas emissions throughout the supply chain, particularly indirect emissions (Scope 3).
Internal and External Stakeholders
The Company communicates its climate policies and targets to employees, suppliers, and business partners to encourage operations that align with corporate goals and international sustainability standards.
Reporting Standards
The Company transparently discloses its climate performance through internationally recognized reporting frameworks and assessments, including CDP (Carbon Disclosure Project), TCFD disclosure framework, and FTSE Russell assessment criteria.
Management Systems and Disclosure Practices
The Company applies ISO 14001 environmental management standards within its manufacturing processes and discloses sustainability performance through its annual report (Sustainability Report) and corporate website, enabling stakeholders to continuously monitor progress.
Climate Scenario Analysis and Business Resilience
The Company has conducted a Climate Scenario Analysis based on the Shared Socioeconomic Pathways (SSPs) from the Sixth Assessment Report (AR6) of the Intergovernmental Panel on Climate Change (IPCC) to evaluate the potential impacts on its business model, value chain, and financial performance under different climate scenarios. The analysis encompasses both Transition Risks and Physical Risks, with a focus on material issues for the Company's operations including agricultural raw material security, water resource management, energy use, manufacturing operations, and sustainability expectations from customers and export markets.
Assessment Time Horizons
- Short-term: 0–5 years
- Medium-term: 5–15 years
- Long-term: More than 15 years
Climate Scenario Assessment Matrix
| Climate Scenario | Projected Temperature Rise | Timeframe of Significant Impact | Key Risks and Opportunities for the Company | Business and Potential Financial Impacts | Response and Resilience-Building Measures | Linkage to ESG and IFRS S2 |
|---|---|---|---|---|---|---|
| SSP1-1.9 (Low Carbon Transition Scenario) | 1.5°C Scenario | Short-term – Medium-term | Risks:
|
Additional costs may arise from data collection, GHG verification, energy efficiency improvements, and emission-reduction technology investments. These efforts may simultaneously support competitiveness and market access in sustainability-conscious markets. |
|
Linked to ESG topics on climate change, energy, and sustainable supply chains (ECC39, ECC44, ECC49, ECC77). Aligned with IFRS S2 disclosures on Transition Risks and Opportunities, Climate Transition Plan, and GHG management. |
| SSP1-2.6 (Moderate Transition Scenario) | 2°C Scenario | Medium-term – Long-term | Risks:
|
Agricultural output volatility may affect raw material costs, production capacity utilisation, and cost management capability. Investments in water management and farmer development may help mitigate long-term risks. |
|
Linked to ESG topics on water management, raw material security, and supply chain resilience (EWT13, ECC44, ECC50). Aligned with IFRS S2 Climate Resilience assessment, business model impact analysis, and climate risk management. |
| SSP5-8.5 (High Physical Risk Scenario) | >4°C Scenario | Medium-term – Long-term (particularly Long-term) | Risks:
|
May result in increased raw material costs, reduced raw material volumes, lower production efficiency, and additional expenditure on water management, damage prevention, and operational recovery following severe weather events. |
|
Linked to ESG topics on climate adaptation, water security, and business continuity (ECC45, EWT01, EWT13). Aligned with IFRS S2 disclosures on Physical Risks, asset and supply chain vulnerability assessments, and financial impact analysis from climate risk. |
Analytical Conclusions
The Company has designated SSP1-2.6 (2°C Scenario) as the primary Reference Scenario for business resilience assessment, as it reflects both Transition Risks and Physical Risks that are likely to materially affect the business over the medium to long term. SSP1-1.9 (1.5°C Scenario) and SSP5-8.5 (>4°C Scenario) are applied as Boundary Scenarios to stress-test the resilience of business strategies under conditions of heightened climate policy stringency or varying degrees of physical impact severity.
The analysis indicates that climate change may affect the Company across multiple dimensions most notably cassava raw material supply security, water resource management, operating costs, production efficiency, and the ability to meet the sustainability requirements of customers and export markets. Concurrently, the transition to a low-carbon economy may create business opportunities through the development of bio-based products, low-carbon products, and the strengthening of supply chain sustainability, all of which can support the Company's long-term competitiveness and growth.
The Company will apply the findings of this analysis to inform strategy development, risk management, and investment decision-making with the aim of strengthening business resilience against climate uncertainty and supporting sustainable long-term growth.