Page 27 - 2020 Sustainability report DOW Thailand Group

Plastic and sustainable management under the concept of the Circular Economy

According to the United Nations Environment still a large amount of used plastic that escapes into
Program (UNEP), people on earth today generate the environment. With the COVID-19 pandemic, the
more than 300 million tons of plastic waste each year, use of single-use plastic products has increased,
equal to the weight of the entire world's population which worsens the situation.
combined. The United Nations estimates that the Efficient and sustainable plastic waste
world's population will increase to 9.7 billion by 2050 management cannot be achieved only by reducing
from around 7 billion today. As a result, the amount its consumption but must incorporate the circular
of plastic waste is increasing as well. The World Bank economy concept. Using recyclable plastic as a
estimates that if the world does not try to reduce plastic starting material in production creates a continuous
waste, the amount of plastic waste both on land and circularity of use, preventing plastic from ending up
in the oceans over the next 20 years will swell to 1.3 in the environment. Recyclable plastics can be raw
billion tons, and those huge piles of plastic will take materials for new products and can be reused
hundreds of years to decompose. The unmanaged continuously in an endless cycle. The Circular
waste will cause environmental pollution and affect Economy concept for plastics raises hope to become
the health and natural ecosystem of the world. a plastic-free society in the future. At present, many
Governments in many countries have raised large business organizations have turned to the idea
awareness of the current problem and implemented of stopping plastic waste or reducing plastic waste
a variety of policies and measures to reduce the amount to zero as one of the goals for sustainable business
of plastic waste, including bans on disposable plastic operations.
products such as straws and plastic glasses, refraining
Information from: https://www.oneplanetnetwork.org/world-requires-
from using plastic bags for supermarket products, and circular-and-low-carbon-economy
https://www.plasticseurope.org/en/focus-areas/circular-economy#:~:tex-
tax legislation for certain plastic products--including
t=Plastics%20can%20make%20a%20major,make%2C%20use%2C%20
incentives to encourage recycling. However, there is then%20dispose

Sustainable business concept:
Environmental, Social, and Governance (ESG)

The components of sustainable business operations are: aligned with global sustainability goals.

E - Environmental An example of environmental aspects is the declaration
S - Social of greenhouse gas emissions in the production in a retail
G - Governance shop aiming to reduce carbon emissions according to GHG

Emission Scopes 1, 2, and 3 by promoting clean energy,
This is the vision for an organization that drives for-profit
circular economy of plastics including supporting reuse
and, at the same time, considers environmental, social, and
and the concept of zero waste.
corporate governance so that businesses can grow
sustainably together with society. Regarding the social aspect, the organization may focus

on creating jobs, educational support, promoting people's
The ESG policy is an important factor that investors use to
health, and supporting small businesses in technology
assess the growth opportunities and risks to make investment
and funding.
decisions in a company. Many large business organizations
have taken sustainability as part of their business strategies Regarding governance, it is recommended to adhere to
with concrete and continuous projects under the ESG concept honesty, integrity, transparency, and fairness.

Dow Thailand Group 27