Company ranks No.2 in S&P Global for the food industry
Mitr Phol Group, world’s second biggest sugar producer and a leader in sustainable development in the agro-industrial sector in Thailand, has been recently ranked second in the world for sustainable development in the food product industry in the latest Corporate Sustainability Assessment (CSA) by S&P Global.
The inclusion in the rankings for the fifth consecutive year testifies to the Group’s excellent work as it climbed from 17th in the first assessment year to second among 353 participating organisations this time around. This represents a push for Mitr Phol Group to achieve international sustainability standards, transparency, and to abide by the same standards as leading companies listed on the Stock Exchange of Thailand (SET) as well as global companies.
The latest world’s ranking testifies to Mitr Phol Group’s success over the past 66 years in creating an organisation with a focus on sustainable development that meets international standards and its gaining of international recognition — economically, socially and environmentally — while helping all its operations achieve a sustainable future.
“In doing business today, we must focus on developing sustainability for society, the environment and all related parties. To create organisational sustainability we must not only focus on increasing our business growth but we must also prioritise the benefits to all stakeholders,” according to Buntoeng Vongkusolkit, Chairman of Mitr Phol Group, referring to company’s stakeholders including sugarcane farmers, business partners, customers, communities, society and employees.
“Operating a sustainable business helps us build the competitiveness we need to deal with sudden changes, including helping society and environment,” noted the Chairman.
Mitr Phol Group has adhered to sustainable business principles for a long time.
The group has consistently embraced the emergence of digital technology and innovations, capitalising on both to help manage and create sustainable development throughout the business value chain, from upstream to downstream.
Agricultural sector … A new opportunity for a greener world
As the group is in the agro-industrial sector which involves a number of people and partners as well as communities and the environment, the company’s sustainable development drives truly aim to benefit all stakeholders.
The agricultural sector is the source of food security and can be extended to provide green energy and bio-based products that respond to industrial and consumer demands.
The manufacturing industry is taking a hard look at utilising bio-based raw materials over those derived from petroleum for its production processes to reduce the environmental effects.
“We see a chance of agricultural sector for playing a key role to build sustainability. Consequently, we prioritise the development of raw materials throughout the value chain and strive to ensure the quality of cane and sugar that can be used as bio-based raw materials,” said Mr Buntoeng.
“Recently, the company became the first in Thailand to be certified by Bonsucro EU-RED, demonstrating that its ethanol is produced in accordance with the sustainability requirements of the European Union,” he said.
Mitr Phol Group remains committed to creating sustainable development in accordance with the United Nations Sustainable Development Goals (SDGs) covering all three economic, social and environmental dimensions.
To achieve this, the group adopts global sustainability assessment criteria to the same standard as the Dow Jones Sustainability Indices (DJSI).
Under the latest assessment, Mitr Phol Group received higher scores across the board, including in economic aspects including supply chain management and ensuring transparency in business operations, the social aspects that focus on developing and taking care of the quality of life of stakeholders, and the environmental aspect whereby Mitr Phol Group aims to become a carbon neutral organisation by 2030 and to achieve net zero greenhouse gas emissions by 2050.
To achieve the net zero goal, the group has implemented six procedures — produce and use clean energy, expand to the bio-based products business, encourage cane farmers to harvest by cutting fresh canes instead of burning their crops, ensure wastewater and waste management, increase afforestation and to offset carbon credits.