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Climate Change Management Targets and Results

Climate Change Management

Bangkok Life Assurance gives importance to managing our activities which may have a negative impact or may exacerbate climate change. By so doing, we promote cashless transactions through our digital and technology plan which covers the Company's entire value chain which will also offer more convenience to all of our stakeholders. For example, we promote paper use and paper printing reduction to reduce both the amount of paper and carbon through our carbon footprint management plan which cover all of policy-related activities throughout the insurance contract including electronic underwriting, electronic policy service, online learning system for employees, life insurance agents and financial advisors, brokers and investment consultants. We also focus on online communication channels which can pave the way to our long-term goal of paperless transaction and to endorse the preservation of the ecological systems and the mission to reduce global warming through reducing the greenhouse gas emission and continuously restoring natural environment. We have the intention to the establish a climate change policy and set a goal for carbon neutrality and net zero carbon to increase the awareness and the acknowledgement of the impact of business activities on the environment.

1. Climate Change Targets

2. Climate Change Management

We are aware that our business operations and economic activities may have an impact on the environment and on climate change whether directly or indirectly, and thus we are committed to our efforts towards environment management and climate change preparation. We do so by promoting and supporting activities which have a positive impact on the environment as well as campaigning and motivating all of our employees to recognize the importance of reducing environmental impacts and of efficient and optimal use of resources. Our environmental management plans are listed below

  • Carbon Footprint for Organization: CFO has been established to calculate the greenhouse gas emission from our head office. We first started collecting carbon footprint data in 2021 (base year), maintaining the international standards or equivalent. Thailand Greenhouse Gas Management Organization has performed a review of the carbon footprint for our organization and Bangkok Life Assurance was registered on the TGO's Carbon Footprint for Organization List on November 29, 2022.

3. Climate Change Management Results

Results202120222023
Greenhouse Gas Emission Scope 1* (tCO2e)477475461
Greenhouse Gas Emission Scope 2** (tCO2e)1,4601,3491,175
Greenhouse Gas Emission Scope 3*** (tCO2e)916329803
Total of Greenhouse Gas Emission (Scope 1 and 2) (tCO2e)1,9371,8241,636
Total of Greenhouse Gas Emission (Scope 1,2 and 3) (tCO2e)2,8532,1532,439
Carbon Intensity (Scope 1 and 2) (tCO2e/m2)0.0490.0460.041
Carbon Intensity (Scope 1,2 and 3) (tCO2e/m2)0.0720.0540.062

Remarks

*Scope 1: Direct GHG emissions/ removal include GHG emissions/removal from sources owned or controlled by the organizationsuch as stationary combustion, mobile combustion, fugitive emissions and others

**Scope 2: Energy indirect GHG emissions are GHG emissions from the generation of purchased electricity, heat or steam consumed by the organization

***Scope 3: Other indirect GHG emissions are GHG emissions other than energy indirect emissions resulting from an organization's activities, but arising from sources that are owned or controlled by other organizations.

4. Climate Change Results Graph

Greenhouse Gas Emission Scope 1* (tCO2e)

-3%
2023
-0.4%
2022
2021 (base year)

Greenhouse Gas Emission Scope 2** (tCO2e)

-20%
2023
-8%
2022
2021 (base year)

Greenhouse Gas Emission Scope 3*** (tCO2e)

-12%
2023
-64%
2022
2021 (base year)

Total of Greenhouse Gas Emission (Scope 1 and 2) (tCO2e)

-16%
2023
-6%
2022
2021 (base year)

tCO2e means tons CO2 equivalent