Climate Action

Importance

(GRI 3-3a., GRI 3-3b., GRI 3.3e.)

Presently, climate change represents one of the most critical challenges, exerting wide-ranging impacts on human livelihoods, ecosystems, and global economic development, with an increasing trend in severity. According to the Global Risks Report 2025 published by the World Economic Forum (WEF), environmental risks are ranked among the global risks with the highest likelihood of occurrence and impact. In the short term over the next two years, extreme weather events are ranked as the second most significant global risk, while in the long term over the next ten years, such risks are ranked as the number one global risk with the most severe potential impacts.
Among energy transition and increasingly stringent climate-related regulations, OR faces both pressure and opportunities from consumers, investors, and the financial sector that place strong emphasis on greenhouse gas emissions reduction. OR is committed to driving a low-carbon society through investments in clean energy and greenhouse gas reduction projects, generating positive environmental impacts and aligning with global commitments such as the Paris Agreement and Thailand’s Nationally Determined Contributions (NDCs). Conversely, failure to achieve these targets may result in adverse impacts, including capital market pressure and reputational risks.
Recognizing the impacts of greenhouse gas emissions across its value chain, OR has set a target to achieve net-zero greenhouse gas emissions by 2050, while advancing all businesses toward green business models and supporting the achievement of the Sustainable Development Goals (SDGs).

2025 Targets

(GRI 3-3e.)

Management Approach

(GRI 3-3c., GRI 3-3d., GRI 3-3e., GRI 3-3f)

The impacts of climate change have intensified on a global scale. In response, OR recognizes these challenges and has integrated climate action into its long-term strategic goals under the OR 2030 Goals, specifically within the Healthy Environment dimension. OR has established a climate change management approach aligned with the Task Force on Climate-related Financial Disclosures (TCFD) standards and guidelines, comprised of four core pillars: Governance, Strategy, Risk Management, and Metrics and Targets.
This includes the appointment of a dedicated climate governance body, the formulation of strategic action plans, risk assessment and management, as well as the establishment of targets and relevant performance indicators.

Climate Change Governance

Additionally, OR has established a climate governance structure with clearly defined roles and responsibilities to drive and oversee climate change management in a tangible and effective manner. The details of OR’s climate governance roles and structure are as follows:

Governance Structure	Roles and Responsibilities	Meeting Frequency
OR Board of Directors	Govern the business operations to follow the workplan and approve the Corporate KPIs related with climate change issue with internal department. Monitor the progress of climate change strategy and Key Action Plans to comply with company policies.	Quarterly
Corporate Governance and Sustainability Committee (OR CGS)	Define and review climate change policies and action plans, while monitoring results. This also includes integrating the implementation of climate change strategies to ensure alignment with the company’s key policies. Oversight the implementation of Climate Risk Strategy and opportunities at the operational level.	Quarterly
Enterprise Risk Management Committee (OR ERMC)	Responsible for defining comprehensive key risk management policies and practices, which include climate-related risks. Assess and review risks, considering both internal and external factors which may affect the achievement of corporate goals. This is to ensure that appropriate measures for tackling climate change, based on OR business context, have been put in place.	Quarterly
Management Committee (ORMC)	Manage and ensure the direction of the operations to be sustainable. Top leadership support and sponsorship are key pre-requisites contributing to the success of the whole process.	As needed
Sustainability Development Committee (OR SD Committee)	Drive and monitor the operations of relevant departments to support implementation of the sustainability strategy and consider approving the annual OR sustainable development progress/report. Responsible for approving OR’s strategic plans, business plans, and action plans for sustainability which complies with the PTT Group policies in national and international sustainability standards.	Quarterly
Taskforces (Energy, Decarbonization, Circular Economy)	Promote and drive actions and Implementations from the policy level to the working group or operational level in particular scope of consideration for achieving OR’s 2030 Goal in Healthy Environment Strategy and implementation of TCFD framework.	Quarterly or As needed

Climate Change Strategy

To reduce greenhouse gas emissions from its operations and achieve net-zero emissions by 2050, OR has set its targets referred to the Science-Based Targets (SBT) approach. The company has also adopted a strategic framework based on the 3Rs Climate Strategy principle, which includes the following key initiatives:

1. 1. Reduce – Own Greenhouse Gas Emissions: Moving towards the OR Net Zero goal by reducing own greenhouse gases emissions.
  2. Remove – Residual Greenhouse Gas Emissions: Eliminating greenhouse gases by supporting greenhouse gas capture activities.
  3. Reinforce – GREEN Portfolio of business and Investment: Expanding the portion of green portfolio and green investment.

OR has established Key Performance Indicators (KPIs) for climate change management and integrated them into the company’s Corporate KPIs. Additionally, OR continuously monitors, analyzes, and improves its performance while regularly reporting progress to the PTT Group.

In addition to its climate change strategy, OR has established a partner and customer management approach to ensure comprehensive climate action across the entire value chain (Upstream & Downstream Management). This approach includes the following key initiatives:

- - Encouraging both upstream and downstream partners to adopt effective climate change management practices.
  - Communicating OR’s commitment and concerns regarding climate change to stakeholders across the value chain.
  - Strengthening confidence in OR’s adaptive capacity and resilience in managing climate-related risks, while leveraging opportunities arising from the transition to a low-carbon society across the organization’s value chain.

Climate-related Risk Management

Climate change impacts are spotted by consumers focusing, affects to consumer behavior changing and climate-related laws and regulations is changed such as carbon taxes. Consequently, OR puts the emphasize on climate-related risks which can affect the business operation. This is done by integrating the climate-related risks into enterprise risk management. This is to assess the severity level and provide mitigation options to mitigate those risks and seek opportunities in innovation or strategic developments to increase the business values. OR sets out the key action plans by studying the requirements, regulations continuously to manage those risks and opportunities. In addition, we also study economic trends from national and international contexts, including Internal carbon pricing and new innovations etc.
Detailed information about these risk assessments can be found in the Task Force on Climate-related Financial Disclosures (TCFD)

Plan for setting targets and indicators

OR is committed to fostering a healthy environment by actively reducing greenhouse gas emissions. The company has set ambitious targets to reduce direct (Scope 1) and indirect (Scope 2) greenhouse gas emissions by one-third from its 2022 baseline by 2030. Additionally, OR is dedicated to achieving net-zero emissions by 2050.

Therefore, OR has key action plans as shown in the following:

1. Reduce – Own Greenhouse Gas Emissions: Moving towards the OR Net Zero goal by reducing own greenhouse gases emissions

- - Increase the Proportion of Renewable Energy Usage, e.g. Solar Rooftop.
  - Increase Energy Efficiency.
  - Encourage of using biofuels and promoting the transition to Electric Vehicle (EV) for used in company fleet.

2. Remove – Residual Greenhouse Gas Emissions: Eliminating greenhouse gases by supporting greenhouse gas capture activities

- - Promoting Carbon Capture using Nature-Based through Reforesting 10,000 Rais.
  - Develop Various Projects for Requesting Carbon Credit Certification.

3. Reinforce – GREEN Portfolio of business and Investment: Expanding the portion of green portfolio and green investment

- - Expand Investment in Green Business or Low-Carbon Business.
  - Expand EV Station PluZ.
  - Expand the Value Creation from Waste Generated by Business Operations through the Circular Economy Approach.

In this regard OR periodically reviews its greenhouse gas (GHG) emission reduction targets and OR’s Decarbonization Pathway, as appropriate, to ensure alignment with the strategic direction and policies of the PTT Group, as well as with relevant laws and regulations of Thailand. Such reviews are conducted through the approval process under OR’s Climate Governance Structure.

Just Transition

OR is committed to aligning its investment strategy with the company’s greenhouse gas emissions reduction targets, with a focus on clean energy businesses such as electric vehicle (EV) charging stations and renewable energy projects, including solar power, This investment transition is designed to align with the goal of limiting global warming to 1.5°C in accordance with the Paris Agreement.
Such a transition inevitably affects the workforce, local communities, and biodiversity. Accordingly, OR has implemented mitigation measures, including workforce reskilling and upskilling programs aligned with future business needs, environmental quality monitoring, and biodiversity assessments in operational areas. These measures aim to ensure that the business transition does not adversely affect people’s quality of life or surrounding ecosystems.
In addition, OR places strong emphasis on operations aligned with the principles of Just Transition by promoting stakeholder engagement at multiple levels, including employees, communities, and suppliers. Stakeholder feedback is incorporated into strategic decision-making to support fair and inclusive business development.
With regard to operational sites, OR operates across multiple locations nationwide. Certain projects are subject to Environmental Impact Assessment (EIA) requirements, which include assessments of surrounding communities. These projects include the Oil and Gas Marine Terminal Project owned by the Petroleum Authority of Thailand, Songkhla province; the Phuket Port and Oil Depot; the Pipeline System between Surat Thani Petroleum Terminal No. 1 and No. 2; the Oil and Gas Marine Terminal Project, Surat Thani province 2; the Renovation Project of the Oil and Gas Marine Terminal Project, Surat Thani province; and the Oil and Gas Marine Terminal Project owned by the Petroleum Authority of Thailand. In this regard, OR has conducted community consultations to reach mutual agreements.
Furthermore, prior to investing in projects, OR conducts comprehensive ESG due diligence, including governance, social, and environment issues.

Further information on projects implemented in collaboration with employees are available at: https://www.pttor.com/en/sustainability/social-dimension/workforce-development-well-being
Further information on projects implemented in collaboration with communities can be found at: https://www.pttor.com/en/sustainability/social-dimension/community-development-and-social-collaboration

Performances

Reduce - Own Greenhouse Gas Emissions:

Moving towards the OR Net Zero goal by reducing own greenhouse gases emissions

Under the Healthy Environment dimension of the OR 2030 Goals, OR is committed to reducing conventional fuel used intensity by one-third by 2030, compared to the 2022 baseline. This will be achieved through enhancing energy efficiency and increasing the proportion of renewable energy used in OR’s operations. To support this objective, OR has established the Energy Task Force, a dedicated team responsible for promoting, supporting, driving initiatives, and sharing expertise to ensure the successful implementation of OR’s energy roadmap and the achievement of its set targets.
OR has conducted energy audits by external experts to identify opportunities for improving energy performance and has implemented energy-saving projects at OR establishments to assess and track progress in reducing energy consumption continuously since 2022. In 2024, the energy audit was expanded to include the LPG Cylinder Refurbishing Plant in Songkhla. The operational plans, progress, future plans, and budgets for these projects will be evaluated and reported to the Energy Task Force every quarter. Examples of actions to reduce the amount of energy use and improve energy efficiency include enhancing the Building Automation System (BAS) at the Phra Khanong office. Additionally, improvements have been made to the chiller system at factories within the Lifestyle Business Centers (OASYS) to enhance cooling efficiency and align with production needs.
To promote and drive the achievement of OR 2030 Goal with the Healthy Environment target, OR drives the action by quantified targets to address energy savings using the QSHE Target applied to all OR’s operations, for example: energy intensity target in all establishments. These targets reported performance and action to OR QSHE GMC Committee, quarterly.
In addition, OR has established annual Key Performance Indicators (KPIs) by setting targets for conventional fuel energy consumption across OR’s operational sites to monitor energy use against defined objectives. OR also promotes the installation of solar rooftops and the use of renewable energy at operational sites through Renewable Energy Certificates (RECs), which enable claims for electricity sourced from renewable energy, as well as through the Utility Green Tariff (UGT).
In order to promote the use of clean or green energy, OR currently uses renewable energy from solar panel and purchased Renewable Energy Certificate (REC) in establishments with details as follows:

	OASYS Lifestyle business center	PTT Station	Cafe’ Amazon	Petroleum Terminal/LPG Depot/Oil Depot	LPG Cylinder Refurbishing Plant	OR Academy	Lubricant Distribution Center
Solar Panel (MWp)	3.880	9.942	0.481	3.755	1.076	0.223	0.281
REC (MWh)	11,278

In 2025, OR installed solar rooftop in OR’s establishments, marking a significant stride in our journey towards using clean or green energy. This initiative added a cumulative installed capacity of 19.638 MWp.
Additionally, OR collaborate and working with PTT Group through PTT Group Net Zero Task Force or G-NET with the Asset Efficiency Improvement and Clean Energy Management sub working group. These collaborations aim to drive progress and identify new decarbonization initiatives and emerging technologies for adoption across the PTT Group. This includes consideration of new investments in innovation or research and development (R&D) focused on reducing energy consumption and advancing clean energy solutions.
Furthermore, we not only promoted the development of energy management through the projects and cooperation but also enhanced and provided the energy efficiency awareness training to employees for consumption reduction via the following details:

- - For target employees and direct operational employees: Training includes the topic of measurement guidelines for evaluation of energy performance and energy saving in compressed air and chilled water systems to maximize efficiency and reduce the amount of energy consumption.
  - For all employees: Raising the employee awareness of energy saving and reducing energy use through public relations media and email, for energy saving and GHG reduction.

Remove - Residual Greenhouse Gas Emissions:

Eliminating greenhouse gases by supporting greenhouse gas capture activities

OR has made it a mission to achieve a low-carbon society. OR is registered in the Thailand Voluntary Emission Reduction Program (T-VER) by the Thailand Greenhouse Gas Management Organization (Public Organization), or TGO, which certifies the amount of greenhouse gases that OR has reduced or stored. In 2025, OR is in the process of developing T-VER projects, as shown below:

1. 1. Promotion of Fuel Switching from Gasoline/Diesel Based Fuel to Blended Biofuels Project (Green Travel with Biofuel Project): OR has promoted and supported the use of biofuels by implementing the Green Travel with Biofuel project to invite customers to switch the use of biofuels as a replacement for conventional fuels. This helps reduce greenhouse gas emissions from the transportation sector. The project, which continued from 2023 through blueplus+ application.
  2. Solar Rooftop Installation Project (Phase I and II), divided into the registration of two T-VER projects.: OR has driven the installation of Solar Rooftops at its establishments and those of its dealers to promote clean energy usage. Additionally, these projects have been registered as T-VER projects to seek future carbon credit certification.
  3. Forest Planting Project: OR aims to increase green areas as greenhouse gas (GHG) removals to offset remaining residual emissions. To this end, OR has promoted the registration of projects and the certification of carbon credits in accordance with Thailand’s national standards. To date, OR has planted and maintained a total of 9,600 rai of forest areas, of which 8,380 rai have been successfully registered and certified. Under this project, OR has established and continuously monitored quality criteria for storage pools to manage the risk of carbon loss arising from non-permanence. The project is subject to third-party verification to ensure that carbon sequestration outcomes are transparent and verifiable. In addition, OR conducts assessments and ongoing monitoring of impacts on local communities to ensure inclusive and fair project implementation, while also preventing adverse impacts on biodiversity.

Reinforce - GREEN Portfolio of business and Investment:

Expanding the portion of green portfolio and green investment

Climate change and shifting economic conditions have heightened awareness of environmental issues, leading people to transition from fossil fuel consumption to clean energy to mitigate environmental impacts. As a result, electric vehicles (EVs) have emerged as a preferred alternative for consumers, gradually replacing traditional fuel-powered vehicles.
Recognizing the opportunities in the transition to electric vehicles (EVs), OR has expanded its EV Station PluZ charging network across Thailand. These charging stations are strategically located at PTT Stations and PTT LPG Auto Stations, covering major routes, communities, tourist destinations, and high-potential areas such as shopping malls, hotels, resorts, restaurants, and office buildings. As of 2025, OR has installed and launched a total of 1,349 locations nationwide or 2,413 DC Fast Charge, ensuring comprehensive coverage across the country.
In addition, OR is expanding its network of next-generation EV Charging Hubs to provide broader coverage along major routes and key locations nationwide. Currently, 10 locations are in operation, including Sikhio, Nakhon Ratchasima; Khanu Woralaksaburi, Kamphaeng Phet; Tha Sae, Chumphon; Ruamjai Service, Buriram; Ban Phai, Khon Kaen; Wachirabarami, Phichit; Chaiya (northbound), Surat Thani; Saraburi, Saraburi; Hua Hin, Prachuap Khiri Khan; and Haad Jomtien Intersection, Chonburi. Each hub is equipped with up to eight DC Fast Charge, delivering charging capacity of up to 180 kilowatts.
At the same time, FIT Auto, one of OR’s Non-Oil Businesses, emphasizes convenience through a one-stop service model and has prepared for the transition to electric mobility. FIT Auto currently operates the FIT Auto Academy at the OR Academy to enhance technicians’ skills and capabilities, enabling them to provide light maintenance services for electric vehicles (EVs).
As electricity is OR’s primary energy source, OR is committed to increasing the proportion of renewable energy used across its operations. OR has set a target to install solar rooftops at operational sites, including Petroleum terminals, Factories within the Lifestyle Business Centers (OASYS), PTT Station, Café Amazon, LPG cylinder refurbishing plants, and office buildings, achieving a total installed capacity of 20.04 MWp by 2030. In parallel, OR continues to promote and implement energy efficiency initiatives across its operational sites.
Moreover, OR supports and encourages PTT Station dealers and customers in various industrial sectors to install solar rooftops to shift electricity consumption from conventional fuel-based power to renewable energy, thereby contributing to the reduction of indirect greenhouse gas emissions across the value chain (Scope 3 GHG emissions).
In addition, OR promotes various mechanisms for sourcing renewable electricity, including procuring renewable energy from external sources through Renewable Energy Certificates (RECs) and utilizing green electricity under the government’s Utility Green Tariff (UGT) program, to further support and increase the organization’s share of renewable energy use.

Partnership for Sustainability

One of the key climate change strategies is partnerships with other organizations to promote projects that support an efficient energy transition. OR therefore collaborates with different organizations to initiate many projects as follows:

1. OR collaborates with GC to explore market opportunities and sales strategies for Sustainable Aviation Fuel (SAF), as well as to jointly develop sustainable product and technology innovations for SAF blending. This collaboration marks the first application of the co-processing process in the aviation industry in Thailand, strengthening the petrochemical industry and fuel business in the country. In 2025, OR, together with Bangkok Airways Public Company Limited, signed a Letter of Intent (LOI) to cooperate on the use of Sustainable Aviation Fuel (SAF). This initiative represents the first use of SAF produced by a domestic manufacturer in Thailand, namely GC, which has developed sustainable product innovations and technologies for SAF blending through the application of the co-processing process for the first time in the aviation industry, in preparation for Thailand’s future mandatory SAF policy.
2. OR has partnered with WICE Logistics Public Company Limited (WICE) to jointly study and develop a prototype for Green Logistics to transport raw coffee beans. This initiative involves testing a long-haul logistics system using EV Trucks, leveraging OR’s EV Station PluZ network along the “Green Coffee Bean Route” — the first of its kind in Thailand. This effort aims to position OR as a leader in adopting electric vehicles for freight transportation and serves as a pilot project aligned with its Carbon Neutrality policy. For transporting bakeries from factories to Café Amazon branches in the central and other regions across country, OR has expanded its collaboration with SCGJWD Logistics Public Company Limited (SCGJWD) to enhance environmentally friendly logistics through the Green Logistics Solution. This includes introducing innovative cold-chain transportation via the largest logistics network to meet the needs of temperature-controlled goods transportation across the country.

Providing education and raising awareness among employees and stakeholders

1. OR Energy Saving Program 2025
OR promotes energy efficiency in the workplace by supporting employee education on electricity conservation. The program encourages personnel to unplug electrical appliances when not in use and to switch off lights during lunch breaks and after working hours, in order to reduce unnecessary electricity consumption and energy costs. These practices also help mitigate the risk of electrical short circuits, leading to more efficient energy use and safer working conditions.

2. IFRS S1 and IFRS S2 Sharing
This training program aims to familiarize participants with the IFRS S1 and IFRS S2 disclosure standards, covering all four core pillars: Governance, Strategy, Risk Management, and Metrics and Targets. The course also addresses key principles and requirements, as well as the application of IFRS S1 and IFRS S2 in Thailand. In addition, it focuses on organizational readiness for implementation and practical application, while building knowledge and understanding among internal personnel responsible for related functions.

3. Foundational Training on Greenhouse Gas Accounting, Reporting, and Preliminary Emissions Calculation for Business Sustainability
OR conducted an online foundational training program on greenhouse gas accounting, reporting, and preliminary emissions calculation for business sustainability for suppliers, business partners, customers, logistics service providers, and interested OR employees. The program was delivered in two cohorts, with a total of 119 participants.
The course focused on providing participants with fundamental knowledge on organizational carbon footprint preparation in accordance with key standards, including ISO 14064-1 and the GHG Protocol, together with practical approaches to effective greenhouse gas reduction. The program also aimed to enhance readiness among stakeholders across OR’s value chain for future regulatory requirements, such as the Climate Change Act.

Member of climate change–related organizations and networks

1. OR is a member of the Thailand Business Council for Sustainable Development
OR is actively contributing to driving Thailand’s sustainability policies. This demonstrates OR’s commitment to sustainability efforts, aiming for a low-carbon society and becoming a net-zero greenhouse gas organization by 2050.

2. OR is part of the Energy Conservation Network activity, ‘Energy Beyond Standard 2025,’
OR is actively cooperate in energy conservation. This initiative aims to generate long-term interest in energy conservation, leading to the creation of a network for consultation and support in reducing energy usage. It provides a platform for collaboration to promote effective energy conservation within buildings and factories. In addition to achieving energy savings, it also helps reduce greenhouse gas emissions and supports Thailand’s climate change policies to achieve net-zero greenhouse gas emissions by 2065.

3. OR’s Participation in the Thailand Carbon Neutral Network (TCNN)
In 2024, OR joined the Thailand Carbon Neutral Network (TCNN) for the first time to demonstrate its commitment to supporting and driving the achievement of net zero emissions by 2050, in its role as a Climate Action Initiator under the Carbon Neutral Thailand Network.
In 2025, OR participated in a TCNN knowledge-sharing event on “Internal Carbon Pricing (ICP)” as a guest speaker, sharing practical experience from an organizational perspective on the implementation of ICP with TCNN members. The event was attended by more than 50 participants. This engagement aligns with OR’s sustainability commitment to supporting a low-carbon society and advancing toward the achievement of net zero emissions.