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Materiality Assessment

GPSC prioritizes the management of both internal and external material issues and has thus instituted a materiality assessment and prioritization process in compliance with the GRI Standards of the Global Reporting Initiative (GRI) and the International Integrated Reporting Framework. GPSC compiles and assesses sustainable development issues through sustainability issue analysis that is consistent with the expectations of all stakeholder groups at least once a year. The assessment places emphasis on the context of sustainability and global trends as well as takes into account GPSC’s operational strategies and risk factors both at present and in the future that may impact or create opportunities for GPSC’s business operations.

GRI 2-12, 2-13, 2-14, 2-27, 3-1, 3-2
Step 1

Identification

Step 2

Assessment and Prioritization

Step 3

Validation

Step 4

Review and Response

Process

Relevant issues impacting the sustainability of GPSC and its stakeholders throughout the value chain across economic, social and environmental dimensions are identified through the consideration of impacts (positive and negative); the expectations, interests, and concerns of all eight stakeholder groups (shareholders, investors, government agencies, employees, suppliers, partners, customers, communities, and communities and society); as well as changes in global trends and the industry, past events, risk factors with potential impacts in the future, business opportunities, GRI Standards indicators, and human rights principles.

GPSC operates in strict compliance with the law and applies various international guidelines to its operations, with dedicated compliance units and audit systems in place to ensure compliance. In addition, GPSC has put in place whistleblower channels and an effective due diligence process. In 2024, no violation of the law or relevant regulations was reported.

Guidelines
  • PTT Group’s and GPSC’s Sustainable Development Guidelines
  • Sustainable Development Goals (SDGs)
  • International guidelines, such as GRI1, DJSI2, SDGs3, WBCSD4, CDP5, ISO 260006, UNGC7, IIRC8, and others
  • All internal and external stakeholders’ voices
  • Community satisfaction surveys
  • Employee engagement surveys
  • Customer satisfaction surveys
  • Corporate image improvement process
  • Complaint channels
  • Corporate risk assessment
Process

Assessing key sustainability issues in the Double Materiality format involves evaluating impacts on the environment, society, and stakeholders (external) as well as the impact on the company (both financially and non-financially). This process takes into account the opinions and expectations of stakeholders by collecting data through interviews with selected external stakeholders, using a purposive selection method, and through online surveys for internal stakeholders. The collected data from stakeholders will be analyzed in the form of scores assigned to key issues based on the criteria of severity and likelihood of impact, both on the company and on the environment, society, and stakeholders. Subsequently, the key issues will be grouped using a rating scale. Material issues then categorized into two groups using a rating scale based on their severity: 1) key material issues, which are issues with high and very high impact ratings, and 2) fundamental material issues, which are issues given low and medium ratings. The latter are issues that GPSC is legally mandated.

Guidelines
  • External stakeholder interviews
  • Online opinion surveys for internal stakeholders
  • Impact assessment and categorization based on the level of impact
  • Materiality prioritization
Process

A summary of material issues is reported to GPSC. The material topics are tested by experts to ensure that they are in line with global trends and cover all issues in the electricity generation industry as well as to ensure alignment with GRO aspects. The material issues are then proposed to responsible internal units for the subsequent formulation of management strategies and guidelines.

GPSC’s Management Committee (GPSC MC) is responsible for validating and approving the content of the material issues as well as assigning relevant units to prepare management plans for the impacts of such material issues. In addition, GPSC MC is charged with reviewing the reported data to ensure its transparency, accuracy, and compliance with reporting requirements in accordance with GRI Standards indicators to disclose in the Annual Integrated Sustainability Report.

Guidelines
  • Material issue validation by experts or third-party assurance provider
  • Meeting and review of material issues by GPSC’s executives
Process

GPSC consistently reviews and improves Integrated Sustainability Report and conducts validation to ensure that the material issues that need to be managed meet stakeholder expectations. In addition, GPSC has developed the stakeholder participation process by obtaining stakeholder voice and suggestions through various communication channels, such as by participating in sustainability reporting assessment by the Securities and Exchange Commission and the Thaipat Institute. These efforts are essential to the improvement of reporting quality and reflect issues that stakeholders consider vital in a more effective way.

Guidelines
  • Third-party sustainability report validation
  • Receiving complaints and suggestions through various channels
  • Sub-group meetings of sustainability units to review sustainability reporting and sustainability development performance as assigned
  • Quarterly report of the implementation of sustainability plans to GPSC’s executives
Remark:

1 Global Reporting Initiative (GRI) is the organization that initiates international report standards which are used as a prototype for sustainability report preparation.

2 Dow Jones Sustainability Indices (DJSI) are a family of capital indices that assesses the effectiveness of business operations according to sustainable development guidelines of the world’s leading companies and is used as investment criteria by various funds worldwide.

3 Sustainable Development Goals (SDGs) are of a set of sustainable development goals stipulated by the United Nations (UN), comprising 17 main objectives to be achieved and implemented by 2030.

4 World Business Council for Sustainable Development (WBCSD) is the committee of businesspersons for the environment that comprises over 120 leading international companies and was accepted in the Earth Summit in 1992.

5 Carbon Disclosure Project (CDP) is a global institution given the highest level of recognition in terms of environmental management assessment.

6 ISO 26000 is an international standard for social responsibility.

7 UN Global Compact (UNGC) is a United Nations initiative that serves as guidelines for formulating strategies and practices in line with international accepted principles in the areas of human rights, labor, environment, and anti-corruption efforts.

8 8 International Integrated Reporting Council (IIRC) is a council on integrated reporting, which refers to a report on an operation’s operations in accordance with its business strategies, corporate governance, as well as its performance and outcomes that contribute value to the organization and internal and external stakeholders over the short, medium, and long term.

GPSC’s Double Materiality Assessment 2024
GRI 3-1, 3-2, 3-3

The 2024 assessment of material issues concerning sustainability found changes in external factors that have caused positive as well as negative impacts and creation of long-term values for stakeholders and the business. Pressure from both internal and external sources that has led to these changes involve such issues as self-adjustment to cope with the fluctuating economy, attempt to reduce GHG emissions to tackle climate change, geopolitical conflicts and energy crisis, the changing market demand, and the evolving pattern of energy consumption, together with human rights and biodiversity, both of which have gained increasing attention globally.

Material Issue Impact Level
Key Material Issue
Clean Energy Towards Net Zero
Environmental Management
Capturing the Future Sustainability Market
Corporate Governance & Compliance
Employee-focused Organization
Risk & Crisis Management
Fundamental Material Issue
Corporate Social Responsibility
Maintaining Availability and Reliability
Biodiversity
Occupational Health and Safety
Supply Chain Management
Being an Innovative Leader
Customer Relationship Management
Information Security/ Cybersecurity Governance
Remarks:
Key Material Issues

are issues whose effects in various aspects, namely economic (corporate governance), social, and environmental, are recognized by internal and external stakeholders. Both positive and negative impacts are scored by their levels of impacts (high to very high impact) on internal and external stakeholders as well as on the business, taking severity and probability of risks into consideration.

  • Positive impacts: such as greater profitability and business growth, a better quality of life and of the environment.
  • Negative impacts: such as business loss and its ensuing recovery cost, breach of related laws and regulations, lower quality of life and of the environment.
  • indicates very high impact (very high risk and very high business opportunity).
  • indicates high impact (high risk and high business opportunity).
Fundamental Material Issues

involve basic requirements for the company in compliance with general laws, standards, and practices, which internal and external stakeholders view as issues of low to moderate impacts.

  • indicates moderate impact (moderate risk and moderate business opportunity).
  • indicates low impact (low risk and low business opportunity).

The material issues, which are the results from Materiality assessment, are then integrated as the inputs into Company's Enterprise Risk Management Process (ERM) in order to prepare business strategy and risk management plan that can meet stakeholder expectations as well as business goals as shown in the picture below.

The material issues were taken into company risk identification process (process 1), as supplementary inputs, together with the potential changes for both external and internal factors for identifying corporate risks. Moreover, the key material issues were also used for cross-checking the significant corporate risks with the linkage as shown in the below table.

Key Material Issue Risk Area Linkage to Corporate Risk
Clean Energy Towards Net Zero Strategic Risks Climate Change
Environmental Management Operational Risks Quality, Security, Safety, Health, and Environment
Capturing the Future Sustainability Market Strategic Risks Investment and Business Growth
Corporate Governance & Compliance Operational Risks Corrupt Business Practices
Employee-focused Organization Strategic Risks Organizational Capability
Risk & Crisis Management Financial Risk Capital Management for Business Expansion
GPSC’s Double Materiality Assessment 2024

In 2024, the Company has assessed the key sustainability issues. They are divided into 6 key material issues and 8 fundamental material issues. The details of the impact on the company and external stakeholders, including shareholders, investors, government, employees, suppliers, partners, customers and communities, (according to the Double Materiality Principle) as follows:

GPSC Materiality Assessment Approval
download
Material Issue Impacts
(Positive and negative)(1)		 Occurrence Related
Stakeholder		 Financial Impact
on the Company(2)		 Global
reporting
Initiative: GRI		 Alignment with
Sustainable
Development Goals
(SDGs)
Past and
present		 Future
Key Material Issue
Clean Energy Towards Net Zero
  • GPSC being one of the country’s leading service providers of clean energy, taking part in driving the attainment of Net Zero and climate change targets
  • Attracting foreign investors into the energy industry
   Government/public, customers, suppliers, investors, partners
  • Management Approach (3-1, 3-2, 3-3)
  • Energy (302-1, 302-3, 302-4)
  • Emission (305-1, 305-2, 305-3, 305-4, 305-7)
  • Supporting low-carbon businesses and innovations with promising future growth
  • Encouraging the workforce to recognize the value of actions for Net Zero emissions
  • Potential impact on investor and supplier confidence if there is a lack of clear management plans
 Shareholders, investors, partners, customers, employees, suppliers
  • Promoting access to clean energy sources among consumers
  • Potential cost and technological challenges in the clean energy transition
  • Potential additional requirements for suppliers in their operations to ensure alignment with GPSC’s sustainability goals
 Customers, Society and Communities
Environmental Management
  • Legal requirements that GPSC must follow, with direct impact on the corporate image and operations
   Shareholders, Investors, Government Sector, Society and Communities, Customers
  • Strategy, Policies, and Practices (2-23, 2-24)
  • Management Approach (3-1, 3-2, 3-3)
  • Water (303-1, 303-2, 303-3, 303-4, 303-5)
  • Emissions (305-7)
  • Effluents and Waste (306-1, 306-2, 306-3, 306-4, 306-5)
  • Environmental Compliance (307-1)
  • Fostering trust between GPSC and communities and promoting quality of life enhancement in communities through good environmental management
  • Responding to public policies
  • Fostering a positive corporate image and confidence in the organization
  • Managing community concerns over particulates emitted by power plants
  • Potential cost increase due to more stringent environmental control measures
  • Potential impact on business continuity due to lack of clear environmental management plans and enforcement of more stringent laws
 Shareholders, Investors, Government Sector, Society and Communities, Customers
Capturing the Future Sustainability Market
  • Accommodating changing market trends, consumer needs, and public policies
  • Potential challenges due to increased competition and more complex sustainability requirements
   Shareholders, Investors, Government Sector, Customers, Suppliers
  • Management Approach (3-1, 3-2, 3-3)
  • Indirect Economic Impacts (203-1)
  • Fostering cooperation for product development initiatives that create value and market opportunities for GPSC and its business partners
   Partners
Corporate Governance & Compliance
  • Fostering confidence in GPSC’s business operations among stakeholders
  • Exchanging knowledge on compliance and business code of conduct
  • Promotion of continuous and sustainable growth through good corporate governance across all dimensions (ESG)
 Shareholders, investors, partners, customers, suppliers
  • Management Approach (3-1, 3-2, 3-3)
  • Organization Profile (2-11)
  • Governance (2-9, 2-10, 2-11, 2-13, 2-15, 2-23, 2-24, 2-25, 2-26, 2-27)
  • Anti-corruption (205-3)
Risk & Crisis Management
  • Fostering stakeholder confidence through systematic risk management for the prevention of potential impacts
  • Potential new risks for operations and impacts on GPSC’s operating results and service provision, especially on overseas investment
  • Impact on confidence in GPSC if there is a lack of proper management
 Shareholders, Investors, Customers, Partners
  • Management Approach (3-1, 3-2, 3-3)
  • Governance (2-12, 2-13, 2-16, 2-23, 2-24)
Employee-focused Organization
  • The role of employees in driving GPSC towards its targets
  • Creating differentiation and competitive advantage
   Shareholders, Investors, Employees
  • Management Approach (3-1, 3-2, 3-3)
  • Collective bargaining agreements (2-30)
  • Diversity and Equal Opportunity (405-1, 405-2)
  • Freedom of association and collective bargaining (407-1)
 
  • Career advancement, well-being, and good work environments for employees
  • Reducing high turnover rates
  • Potential lack of highly skilled personnel without sufficient human resource development
 Suppliers, Employees
Fundamental Material Issue
Corporate Social Responsibility
  • Enhance brand reputation through meaningful contributions to societal well-being.
  • Improve living standards for people in the surrounding communities through sustainable self-reliance.
  • Employee participation in CSR activities enhances their skills, aligns them with the company’s strategies, and fosters organizational ownership and engagement.
 Society and Communities, Employees, Shareholders,
  • Management Approach (3-1, 3-2, 3-3)
  • Local Communities (413-1, 413-2)
Maintaining Availability and Reliability
  • Foster customer confidence, which continuously affects GPSC’s operating results
   Shareholders, Investors, Customers, Employees
  • Management Approach (3-1, 3-2, 3-3)
  • System Efficiency (EU-1, EU-2, EU-11)
  • Demand Side Management (EU-10)
  • Availability and Reliability (EU-28, EU-29, EU-30)
  • Foster confidence, leading co-creation of business value
  • Foster marketing stability for suppliers
  • Reduces energy costs and enhances stakeholder trust.
  • Lowers greenhouse gas emissions, benefiting the environment and society.
  • Ensures reliable services, meeting customer and community needs.
   Partners, Suppliers
Biodiversity
  • Protects ecosystems, benefiting local communities and future generations.
  • Strengthens reputation among stakeholders through conservation efforts.
 Shareholders, investors, government sector, society and communities
  • Management Approach (3-1, 3-2, 3-3)
  • Biodiversity (304-1, 304-2, 304-3, 304-4)
Occupational Health and Safety
  • Ensures employee well-being, reducing workplace accidents and fostering trust.
  • Promotes a safe and inclusive environment, benefiting society and local communities.
  • Reduces environmental risks through safer operational practices.
   Suppliers, Employees, Society and Communities
  • Management Approach (3-1, 3-2, 3-3)
  • Occupational Health and Safety (403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-9, 403-10, EU-25)
Supply Chain Management
  • Impact GPSC’s operating results and operational continuity
  • Impact the corporate image
  • Ethical sourcing and transparency build trust with customers, investors, and partners.
  • Promotes fair labor practices, benefiting communities and regulators.
 Shareholders, Investors, Suppliers
  • Management Approach (3-1, 3-2, 3-3)
  • Health and Safety for Contractor and Subcontractor Employees (EU-17, EU-18)
Being an Innovative Leader
  • Prevent disruption by new players and create operational strengths
  • Be a leader in innovation from which partners can derive learning
  • Drive growth with sustainable innovations, strengthening relationships with customers and investors.
  • Enhance competitiveness and meets market demands.
 Shareholder, Investors, Partners, Customers, Employees
  • Management Approach (3-1, 3-2, 3-3)
  • Enhance operational efficiency
  • Enhance employees’ efficiency and give them time for skill development in accordance with their interest
  • New technologies and innovations can help reduce employees' workload.
   Employees
  • Impact the operating results through the development and procurement of innovation that can further enhance GPSC’s products and services in the future
  • Poorly executed innovations may harm the environment and may reduce consumer loyalty and earnings growth stemming from innovative business areas.
   Shareholder, Investors
Customer Relationship Management
  • Foster corporate credibility
  • Maintain operational continuity
  • Impact the corporate image
  • Take proactive measures in maintaining and building customer relationships.
 Partners, Customers
  • Management Approach (3-1, 3-2, 3-3)
Information Security/ Cybersecurity Governance
  • Protects data, maintaining trust with customers, employees, and investors.
  • Adheres to privacy regulations, boosting stakeholder confidence.
  • Effective breach management restores trust.
  • Data breaches harm customer/employee trust and cause financial loss from lawsuits.
  • Inconsistent cybersecurity causes loss in investor and public confidence.
 Partners, Customers, Employees, Suppliers
  • Management Approach (3-1, 3-2, 3-3)
  • Customer Privacy (418-1)

Note:

(1) Impacts, in each material issue both are actual and/or potential, can be considered in positive and negative.

(2) Financial impact on the Company sorted by the number of blue dots that appear in the table, divided into 4 groups:

  • 4 blue dots mean the impact or opportunity from that material issue in the financial aspect to the Company at a “very high” level
  • 3 blue dots mean impact or opportunity from that material issue in financial aspect to the Company at a “high” level
  • 2 blue dot means impact or opportunity from that material issue in financial impact on the Company at a “Moderate” level and
  • 1 blue dot means impact or opportunity from that material issue in financial impact on the Company at a “low” level
Targets and Executive Compensations linked to the top material issues

GPSC has established the targets linked to the top material issues to effectively drive sustainability performance in long-term. The targets have set in three timeframes comprising annual, short-term and long-term targets. To achieve the targets and maintain the performance, GPSC dedicates responsibilities to employees from executives level to staff level to manage material issues as KPIs which are linked to annual its performance appraisal. The achievement of this KPI will be linked to the compensation consideration of relevant executives.

This ensures that the ambitions and targets are embedded throughout the company and that management is held accountable for the achievement of these goals as shown in the table below:

Material Topic 2024 Target Short- and long-term targets Type of
Incentive		 Incentivized KPIs for
Executives
Clean Energy toward Net Zero
  • Direct and indirect GHG emissions (Scopes 1 and 2): not exceeding 11,099,049.51 tCO2 e
  • Other indirect GHG emissions (Scope 3): not exceeding 1,474,526.87 tCO2 e
  • Decrease GHG emission intensity by 10% and 35% by 2025 and 2030 (compared to the base year of 2020)
  • Achieve carbon neutrality by 2050 and net zero emissions by 2060
  • Increase the proportion of renewables to over 50% by 2030
  • Increase the proportion of electricity produced from renewable energy to more than 50 percent by 2030, with solar energy being the main proportion
  • Achieving 10,000-rai reforestation target by 2030
  • Achieve no net deforestation by 2025
 Monetary
  • Eco-efficiency improvement (absolute GHG emission reduction/year from energy efficiency improvement)
  • Solar business control enhancement (Emissions reduction)
  • Renewable MWe Growth
Capturing the Future Sustainability Market

Sustainable Energy Production

  • Over 50% of the portfolio derived from renewables by 2030

Innovation Development and New Business Opportunities

  • Develop investments in New S-Curve innovations
  • Operate businesses involving distributed generation, district cooling systems, and energy management services under the banner of energy innovation for business
  • Strengthen partnerships in clean energy technologies, focusing on zero-GHG power generation through solar, wind, and energy storage system (ESS) integration.
  • Emphasize investments in Thailand and abroad, aligning with national strategies and renewable energy targets under Thailand’s Power Development Plan 2024 and related policies.
  • Seeking new business opportunities by developing end-to-end energy services with a focus on integrated energy management platforms and smart systems.
  • Explore reliable baseload power solutions such as carbon capture and storage (CCS), hydrogen, and small modular reactors (SMRs) to align with future energy trends.
 Monetary
  • Business contract improvements or/and green product business model
  • Achieved MW growth (MW equity) with new investment (platform or partners)
  • New business development or New investment according to business strategy, S3 S-Curve & Batteries and S4 Shift to Customer-centric Solutions were approved by Board of Directors
Employee-focused Organization
  • Human capital development : 100% of the employees receive training.
  • Talent attraction and retention : turnover rate is lower than the industry average and employee engagement level among talent increases by 3% or more compared to 2023.
  • Diversity, equality, and inclusion : gender pay ratio remains stable at or close to 1:1
  • Continuously develop employee capabilities through reskilling, upskilling, and modern learning programs in areas like digital transformation, AI, automation, and renewable energy. Strengthen leadership skills and foster knowledge transfer through executive mentorship to prepare for future organizational needs.
  • Strengthen talent attraction and retention through AI-driven recruitment, enhanced employer branding, and improved candidate experience. Support employee well-being with flexible work models and comprehensive benefits to ensure long-term engagement and satisfaction.
 Monetary
  • Human capital development
  • Diversity, equality, and inclusion
The External Impact Value from GPSC’s Activities

Impact 1 - Climate Transition & Physical Risks from the key material issue “Clean energy towards Net Zero”

Cause of the impact - The impact caused by the operation of the business value chain with >50% of business activity coverage.

Impact area(s) evaluated Environment & Society area.

Type of the evaluated impact – Positive

Rationale

GPSC assessed the impacts since it is material to the environment and society due to global concern of climate change issue. This also directly involves with GPSC operation as currently using fossil fuel as a source for power generation. GPSC, as a power producer and significant GHG emitter, considers the Clean Energy toward Net-Zero as one of the key material issues. GPSC has already set business direction towards net zero target. All the process to achieve the target needs employee to contribute. GPSC climate-related targets including GHG emission reduction, increase of national renewable energy and Nationally Determined Contribution achievement for both national and site-specific level. GPSC as an energy provider is the key player contributing to these targets by providing low carbon energy and other products. GPSC implemented several activities to avoid and mitigate those GHG emissions in several ways. GPSC also support national climate-related targets, join and support external climate-change networks to build on and promote low-carbon business and practices. GPSC is heading the business towards climate change, clean energy,and net zero directions, there might be more business opportunities for suppliers/contractors in areas that require technical expertise or specific resources. These are important to evaluate externalized impacts from those activities to inform business decision, progress, strategy planning as well as how much climate related impacts the company can avoid in the environment and society. This is to encourage external parties in joining and sharing low carbon activities/practices along with the company.

External Impacts

Environmental externalities

Impact type Output Metric
(Impact Valuation)		 Impact Metric Impact Metric Evaluated in 2024 Reference
Positive Greenhouse Gas Emissions Avoided (in tCO2e)* (Environmental value lost/ gained) GHG emissions avoidance* GHG avoided from fossil fuel power generation: 4,203,751.71 tCO2e IRIS, 2021. Greenhouse Gas Emissions Avoided (PI2764). v5.2.
Positive NOx avoidance
(Environmental value lost/ gained)		 NOx avoidance NOx avoided from fossil fuel power generation: 4,864.884 tonnes N/A
Positive SOx avoidance
(Environmental value lost/ gained)		 SOx avoidance SOx avoided from fossil fuel power generation: 1,696.108 tonnes N/A
Positive Dust avoidance
(Environmental value lost/ gained)		 Dust avoidance Dust avoided from fossil fuel power generation: 228.981 tonnes N/A

Note: * the output metrics refer to performance metrics included in the IRIS (Impact Reporting & Investment Standards) catalog and accepted as good practice to define output targets to measure social and environmental success.

For the social externalities

Impact type Output Metric
(Impact Valuation)		 Impact Metric Impact Metric Evaluated in 2024 Reference
Positive Social Cost of Carbon (USD) (Social cost caused/avoided) Social Cost of Carbon Social cost of carbon reduced since people’s heath impact will be mitigated by reducing GHG emission: 244,602.60 USD* IRIS, 2021. Social Impact Objectives (OD6247). v5.2.

Note: * The social cost of carbon (SCC) represents the marginal social damage from emitting one metric ton of carbon dioxide-equivalent at a certain point in time (in monetary unit/one excess death). The SCC can be determined by using the mortality cost of carbon (MCC) (in tCO2e emitted/ one excess death). (Bressler, R.D. The mortality cost of carbon. Nat Commun 12, 4467 (2021). https://doi.org/10.1038/s41467-021-24487-w )

Impact 2 - Sustainable Products & Services from the key material issue “Capturing the Future Sustainability Market”

Cause of the Impact – The impact caused by the products/services and supply chain of the business value chain with >50% of business activity coverage.

Impact area(s) evaluated – Environment and consumers/ end-users

Type of the evaluated impact – Positive

Rationale

GPSC assessed the impacts since it is material to the consumers/end-users to get benefits from the new innovative energy storage system (ESS) or battery, which GPSC places importance on and considers as the new S-curve business opportunity. With the rising trend of EV, renewable energy and electrification where ESS plays a key role in the energy ecosystem, GPSC implemented several activities to accelerate innovation which are to conduct R&D in ESS, develop pilot project manufacture and apply into its partners/customers. As mentioned to the benefits above, from the advantages of the new innovative, including extended lifetime, reduced materials and chemicals usage, and low risk for short-circuiting, the consumers/end-users could get the benefits in term of energy cost saving by using the battery to store their self-generated power contributing to the more energy reliability and resilience.

External Impacts

For the environmental externalities

Impact type Output Metric
(Impact Valuation)		 Impact Metric Impact Metric Evaluated in 2024 Reference
Positive Greenhouse Gas Emissions Avoided (in tCO2e) (Environmental value lost/ gained) GHG emissions avoidance* GHG avoided from fossil fuel power generation: 9,437.82 tCO2e IRIS, 2021. Greenhouse Gas Emissions Avoided (PI2764). v5.2.
Positive Renewable Energy Generated (in MWh) Energy Generated for Use: Renewable* Renewable energy generated: 20,080.48 MWh/year IRIS, 2021. Energy Generated for Use: Renewable (OI2496). v5.3.

Note: * the output metrics refer to performance metrics included in the IRIS (Impact Reporting & Investment Standards) catalog and accepted as good practice to define output targets to measure social and environmental success.

For the social externalities

Impact type Output Metric
(Impact Valuation)		 Impact Metric Impact Metric Evaluated in 2024 Reference
Positive  Other  Cost saving from external power purchasing of customer Maximum cost saved from external power purchasing of customer: 1,827,137.56 USD/year* N/A
Positive  Social Cost of Carbon (USD) (Social cost caused/avoided) Social Cost of Carbon Social cost of carbon reduced through renewable energy generated: 549.16 USD/year ** IRIS, 2021. Social Impact Objectives (OD6247). v5.2.

Note:

* The value is calculated using the electricity tariff used which is 3,109.7 THB/MWh (Electricity tariff for medium-sized business, Metropolitan Electricity Authority, https://www.mea.or.th/profile/109/113) and the average exchange Rates for 2024 which is 34.18 THB/USD (Exchange Rates UK, https://www.exchange-rates.org/exchange-rate-history/usd-thb-2024). The assumptions include energy cost saving equal to cost of the energy provided by official Thai Electricity Authority replaced by self-generated energy stored in the GPSC’s product (Battery).

** The social cost of carbon (SCC) represents the marginal social damage from emitting one metric ton of carbon dioxide-equivalent at a certain point in time (in monetary unit/one excess death). The SCC can be determined by using the mortality cost of carbon (MCC) (in tCO2e emitted/ one excess death). (Bressler, R.D. The mortality cost of carbon. Nat Commun 12, 4467 (2021). https://doi.org/10.1038/s41467-021-24487-w)

Updated as of February 2025

The above content is prepared in accordance with the sustainability reporting standards by the Global Reporting Initiative (GRI Standards), which is validated by external parties and provides a limited level of assurance of reporting information (Limited Assurance).

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