TCP to spend $300m in sustainability drive

Corporate August 17, 2018 01:00

By The Nation

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TCP Group, the drinks and snacks group best known for its Krating Daeng (Red Bull) energy drink, plans to spend more than US$300 million (Bt10 billion) over the next five years on improving the environmental safeguards in its operations, chief executive officer Saravoot Yoovidhya said yesterday. 

Saravoot said the group’s sustainability goals extend from a commitment to integrity in all its business activities, through to a commitment to quality in its products and the workplace, as well as a commitment to sustainable environmental practices and community relations.

 “Our business goal is to become, within 2022, one of Thailand’s most admired corporations that is a house of powerful brands with our annual sales tripling to US$3 billion,” Saravoot said. “We will drive our goals with investments of over US$ 300 million that will strengthen our capabilities in every field.”

He said the group had taken an important first step towards becoming a most admired company by making the fulfilment of sustainability goals an inseparable part of the company’s overall goals. “Those goals are grouped under three main pillars – integrity, quality and harmony – and are consistent with the United Nations’ sustainability guidelines,” he said.

Saravoot said TCP Group would work in partnership with other stakeholders in any area that can enhance the fulfilment of its sustainability goals, including non-government organisations, local communities and government agencies.

“Integrity is the first of our three pillars on which we have built our sustainability goals,” said Saravoot.

“It’s about how we behave both internally and externally, and includes operational guidelines that ensure good corporate governance as well as fair procurement practices, and the promotion of sustainability in the supply chain.”

He said that quality was another pillar around which the company had formulated its sustainability goals.

Harmony is the third of its sustainability pillars, and its focus is on ensuring that “everything we do as a company is in harmony with the environment”, as well as the communities in which the group operates

 “Our sustainability goals are real and actionable, because we see them as integral to our business development,” Saravoot said.