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Climate Management
View the full policy details in the downloadable document
Climate Change Management
Climate Management
Climate Risk
Context
Climate Risk Context
The Company recognizes climate change as a critical global challenge and a key driver of business risks and opportunities. This section outlines the climate risk context based on internationally recognized scientific assessments from the Intergovernmental Panel on Climate Change (IPCC), which operates under the United Nations (UN) and provides global guidance on climate-related impacts and pathways.
1. Global Warming
Global warming refers to the long-term rise in the Earth’s average temperature, primarily driven by human activities, particularly the emission of greenhouse gases (GHGs).
Human activities have already contributed to an increase of approximately 1°C above pre-industrial levels (1850–1900). Without significant and sustained reductions in GHG emissions, global temperatures are projected to reach 1.5°C between 2030 and 2052, which could significantly intensify climate-related risks across environmental, economic, and social systems.
2. Impacts of 1.5°C vs 2°C Scenarios
According to IPCC assessments, a global temperature increase of 2°C would result in significantly more severe impacts compared to 1.5°C, including:
- Increased frequency and severity of extreme weather events such as heatwaves and flooding
- Greater damage to ecosystems and biodiversity
- Declining food and water security
Limiting warming to 1.5°C could substantially reduce these risks, including minimizing impacts on ecosystems, the economy, and society.
3. Physical Climate Risks
Physical climate risks can be categorized into two main types:
- Acute physical risks which arise from extreme weather events such as floods, storms, and heatwaves, potentially causing operational disruptions and damage to assets.
- Chronic physical risks hich stem from long-term climate shifts, including rising average temperatures, prolonged droughts, and increasing water stress. These risks may adversely affect business continuity, operational efficiency, and the resilience of the company’s value chain.
4. Transition Requirements
Under the global climate change trend and international frameworks such as TCFD / IFRS S2, the Company recognizes the need to transition toward a low-carbon economy, which emphasizes reducing greenhouse gas emissions and driving long-term structural changes in the economy. This transition is particularly significant for the Company, as it operates in the lime industry, which is energy-intensive and involves carbon dioxide emissions from its production processes, requiring actions such as:
- Improving energy efficiency
- Developing alternative energy sources (e.g., solar, biomass)
- Enhancing production processes to reduce carbon emissions
to reduce carbon emissions The transition is also expected to drive structural changes across key sectors, including:
- Energy sector: increasing the adoption of clean energy
- Industrial sector: expanding the use of low-carbon technologies
- Transport sector: reducing reliance on fossil fuels
5. Economic and Business Impacts
- Operating costs increase due to higher energy, water usage, and maintenance expenses under extreme weather conditions
- Production efficiency declines and downtime risks increase, affecting operational continuity
- Asset and infrastructure risks rise, leading to potential damage and higher repair costs
- Supply chain disruptions occur due to volatility in logistics and raw material availability
- Revenue becomes more volatile amid uncertainty in customer demand and market conditions
6. Scenario Analysis Concept
The Company applies climate scenario analysis based on greenhouse gas emission pathways aligned with the Paris Agreement, to assess potential future impacts and support strategic decision-making. The key scenarios adopted by the Company include:
Net Zero 2050 Scenario (1.5°C Scenario): Represents an accelerated transition toward a low-carbon economy, driven by stringent climate policies and rapid greenhouse gas emissions reduction, to inform the Company’s target setting.
Delayed Transition Scenario (~2–3°C Scenario):: Reflects a slower transition due to policy, technological, and economic constraints. This scenario highlights increased exposure to transition risks in the medium to long term.
High Emissions Scenario (>3°C Scenario):: Represents limited climate action, leading to significantly higher greenhouse gas emissions. This scenario is associated with elevated physical climate risks, including extreme weather events and long-term environmental impacts.
The scenario analysis enables the Company to:
- Assess climate-related impacts on operations, financial performance, and strategy across short, medium, and long-term horizons
- Evaluate both physical and transition risks
- Support decarbonization strategies and energy management planning
- Enhance overall organizational resilience to climate change
7. Climate-related Disclosure (TCFD/ IFRS S2 Alignment)
The Company discloses its governance, strategy, and risk management related to climate change, outlines the financial and operational impacts of climate-related risks and opportunities across the short, medium, and long term, and reports key metrics and targets, including greenhouse gas emissions (Scopes 1, 2, and 3) and its carbon reduction plans.
Policy and
Governance
Governance & Policy
Golden Lime Public Company Limited places strong emphasis on managing climate change and natural disaster risks through a structured policy framework that supports sustainable business operations across environmental, social, and economic dimensions.
Objective
The Company aims to strengthen organizational readiness to address climate change impacts by promoting greenhouse gas emission reduction and enhancing adaptive capacity, ensuring long-term business stability and resilience.
Scope of Application
This policy applies to the Company, its subsidiaries, and all related entities.
Policy implementation
The Company has established the following climate management guidelines:
1. Governance, Transparency & Stakeholder Engagement
- Establish a robust governance structure and ensure transparency in operations, while promoting stakeholder engagement
- Appoint dedicated committees or responsible units to oversee and drive environmental initiatives
- Disclose climate-related information transparently in alignment with international standards (e.g., IFRS Sustainability Disclosure Standards)
- Encourage active participation of employees and stakeholders across the value chain
2. Data, Measurement & Carbon Management
- Develop data systems to support effective management and reduction of greenhouse gas emissions
- Collect and manage GHG emissions data in accordance with relevant standards and regulatory requirements
- Utilize data as a foundation for decision-making and tracking emission reduction performance
3. Technology & Process Innovation
- Enhance the use of technology and innovation to minimize environmental impacts
- Promote the development and application of technologies in machinery design and production processes to reduce pollution and GHG emissions
- Continuously innovate to reduce emissions from production processes
4. Energy Efficiency & Resource Optimization
- Improve efficiency in energy and resource utilization
- Enhance energy performance and reduce fuel consumption
- Promote the adoption of alternative and cleaner energy sources
- Maximize resource efficiency across operations
5. Circular Economy & Waste Reduction
- Reduce waste and promote the use of circular resources
- Minimize waste generation and strengthen circular resource utilization
- Implement environmental measures such as waste segregation and proper waste management
- Encourage the use of environmentally friendly materials and products
6. Green Products & Market Impact
- Develop products that contribute to environmental impact reduction at scale
- Innovate lime-based products that support environmental sustainability
- Expand adoption among customers contributing to environmental impact reduction
Governance Structure
The Climate Change and Natural Disaster Risk Management Policy has been approved by the Board of Directors, ensuring proper oversight, accountability, and alignment with the Company’s sustainability commitments.
The Board of Directors is responsible for approving climate-related policies and strategies, as well as overseeing impacts, opportunities, and investment decisions related to greenhouse gas reduction initiatives. The Risk Management and Sustainability Development Committee supports this role by overseeing strategy execution, integrating climate-related risks into the Enterprise Risk Management (ERM) framework, and ensuring ongoing monitoring, reporting, and disclosure. Meanwhile, executives and management are responsible for setting strategies, developing action plans, and allocating resources across business units and plant operations to drive effective implementation. Dedicated functions or teams responsible for environment, energy, and sustainability develop operational plans, coordinate activities, and monitor performance. At the operational level, all employees are expected to comply with climate-related measures, support greenhouse gas reduction efforts, and contribute to continuous execution aligned with the organization’s overall objectives.
Strategic
Climate Strategic Approach
The Company has established a climate strategy aimed at managing climate-related risks and capturing long-term business opportunities, aligned with global frameworks and the transition toward a low-carbon economy.
Climate & Sustainability Strategic Pillars
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1. Energy Efficiency Excellence Enhance operational efficiency to minimize energy consumption and cost.
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2. Energy Transition & Low-Carbon Fuel Shift Accelerate the transition toward cleaner and renewable energy sources.
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3. Comprehensive Emission Reduction Reduce greenhouse gas emissions across the value chain.
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4. Climate Resilience & Risk Management Strengthen the company’s ability to manage climate-related risks.
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5. Technology, Innovation & Strategic Investment Leverage technology and investment to enable sustainable growth.
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6. Long-Term Commitment (Net Zero Pathway)
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Climate
Risk Management
1. Overview
The Company recognizes that climate change is a significant risk that may impact business operations in the short, medium, and long term. These impacts may affect operations, cost structure, competitiveness, and access to capital. Accordingly, the Company has established a systematic approach to climate risk management in alignment with internationally recognized frameworks, including:
- Task Force on Climate-related Financial Disclosures (TCFD)
- IFRS S2: Climate-related Disclosures
- FTSE Russell ESG Framework
2. Governance
The Company has established a clear governance structure for managing climate-related risks:
- Board of Directors Oversees overall climate-related risks and sets strategic direction
- Risk Management and Sustainability Development Committee Reviews and monitors climate risks and approves mitigation plans
- Management and Relevant Functions Responsible for identifying, assessing, and managing risks at the operational level Climate-related risks are regularly reviewed and reported, and are integrated into the Company’s Enterprise Risk Management (ERM) framework.
3. Risk and Opportunity Identification
The Company identifies climate-related risks and opportunities across two key dimensions:
3.1 Physical Risks
The Company categorizes physical risks into two types:
(1) Acute Physical Risks Risks arising from extreme weather events such as:
- Flooding
- Severe storms
- Heatwaves
Potential impacts on the business:
- Damage to assets, plants, and infrastructure
- Disruption to production operations
- Supply chain and logistics interruptions
- Health and safety risks to employees and surrounding communities
(2) Chronic Physical Risks Risks related to long-term climate changes, including:
- Rising average temperatures
- Changing precipitation patterns
- Water scarcity and water stress
- Long-term drought
Potential impacts on the business:
- Increased energy costs due to temperature control requirements in production processes
- Reduced operational efficiency of machinery and equipment
- Higher water demand for production processes
- Heat-related impacts on employee productivity
- Increased risk of business disruption caused by flooding
(3) Transition Risk
- Risks arising from regulatory, market, and economic transitions, including
- Environmental regulations and carbon pricing mechanisms
- Disclosure requirements under IFRS S2
- Stricter financing conditions for carbon-intensive businesses
- Shifting customer preferences toward low-carbon products
(4) Business Opportunities The Company also recognizes opportunities arising from climate change, such as:
- Development of low-carbon products
- Investment in renewable energy
- Access to green financing
- Innovation and environmentally friendly product development
4. Risk Assessment
The Company conducts risk assessments based on its enterprise risk framework, considering:
- Likelihood of occurrence
- Impact severity The scoring scale ranges from 1 to 5, with the overall risk level calculated based on:
Risk Level = Likelihood × Impact
Impact assessment covers:
- Financial impacts
- Operational impacts
- Reputational impacts
- Environmental and stakeholder impacts
Risk classification:
- High / Very High → Immediate mitigation required
- Medium → Monitoring and control required
- Low → Ongoing monitoring
5. Integration with Enterprise Risk Management (ERM)
Climate-related risks are integrated into the Company’s ERM framework through:
- Regular risk assessments (at least annually or upon significant events)
- Assignment of risk owners
- Monitoring through risk registers
- Reporting to relevant governance bodies
6. Business Impacts
Climate-related risks are integrated into the Company’s ERM framework through:
6.1 Operations
- Increased energy consumption due to rising temperatures
- Reduced efficiency of machinery
- Risk of production disruptions due to weather variability and power interruptions
6.2 Financial
- Increased energy and carbon-related costs
- Capital expenditure for adaptation and mitigation
- Constraints and opportunities in accessing finance
- Impacts on cash flow, operating costs, and profitability
6.3 Supply Chain
- Disruptions in transportation
- Uncertainty in raw material supply
7. Risk Management and Mitigation Measures
7.1 Managing Physical Risks
- Water and resource management
- Enhancing operational and infrastructure resilience
- Business continuity planning
7.2 Managing Transition Risks
- Adoption of renewable energy
- Reduction of greenhouse gas (GHG) emissions
- Regulatory preparedness
7.3 Climate Strategy and Targets
Short-term (1–3 years)
- Focus on foundation building and operational efficiency:
- Monitor and control Scope 1 and Scope 2 emissions
- Develop Scope 3 data collection across key categories in the supply chain
- Improve energy efficiency
- Promote circular economy practices
Expected outcomes:
- Reduced energy costs
- Improved operational efficiency
(2) Medium-term (3–10 years) Focus on business transformation and competitiveness:
- Reduce GHG intensity
- Expand renewable and alternative energy use
- Manage Scope 1, 2, and key Scope 3 key categories across operations
- Develop low-carbon products (e.g. Green Lime)
- Explore the use of carbon credits
Expected outcomes:
- Enhanced competitiveness
- Alignment with low-carbon market demand
- Improved access to green financing
(3) Long-term (>10 years)
- Progress toward Net Zero emissions
- Significant reduction of Scope 1, 2, and 3 emissions
- Investment in clean technologies and innovation
- Development of sustainable value chains
Expected outcomes:
- Long-term business resilience
- Alignment with the Paris Agreement
- Reduced stranded asset risk
7.4 Integration with Risk Management
Climate risk assessments are used to support:
- Strategic target setting
- Investment decision-making
- Development of risk mitigation and opportunity enhancement plans
7.5 Financial Impacts
These strategies contribute to:
- Lower energy costs
- Carbon costs for future carbon tax impacts
- Improved operational efficiency
- Enhanced access to financing
- Increased competitiveness
8. Scenario Analysis
The Company assesses climate-related scenarios based on recognized frameworks such as the Paris Agreement, including:
- Scenario Analysis
Paris Agreement
- Net Zero (1.5°C)
- Delayed transition
- High warming
- Transition Risk
- Long-Term Physical Risk
9. Monitoring and Reporting
The Company monitors climate-related risks using key indicators, including:
- GHG intensity
- Energy intensity
- % renewable
- Risk score
Performance is reported through:
- Annual Report (One Report)
- Sustainability Report
- Company website
10. Readiness for International Standards
The Company continues to enhance its capabilities to comply with international standards such as IFRS S1 and IFRS S2 by:
- Improving data systems
- Expanding Scope 3 data coverage for material key categories in value chain
- Strengthening internal controls
- Enhancing long-term reporting frameworks
Metrics
and Targets
Operational Overview
The Company manages climate-related risks and opportunities alongside improving energy efficiency by adopting an evidence-based approach to monitor performance, set targets, and continuously enhance operations. This approach aims to reduce greenhouse gas emissions, mitigate energy cost and regulatory risks, and strengthen long-term competitiveness.
Metrics and Targets
The Company discloses quantitative historical data benchmarked against the 2022 (B.E. 2565) baseline. This includes Scope 1 and Scope 2 greenhouse gas emissions, total energy consumption, electricity usage, solar energy, diesel, and coal. The disclosure also presents changes compared to the baseline and the status of target achievement, supporting transparency and comparability of performance.
| Indicator Evidence | Disclosure Position |
|---|---|
| GHG Emissions | Total GHG emissions decreased by approximately 22% from the 2022 baseline, with Scope 1 and Scope 2 disclosed separately. |
| Energy Efficiency | Total energy consumption decreased by approximately 31% from the 2022 baseline. |
| Renewable Energy | Solar energy is disclosed as part of the company’s Scope 2 reduction and energy transition plan. |
| Data Credibility | Scope 1 and Scope 2 emissions are prepared with reference to GHG Protocol principles and externally verified by an authorized verifier. |
Key Climate & Energy KPIs
Performance – 3 Years + Baseline (B.E. 2565 / 2022)
GHG Emissions
| Year | Scope 1 | Scope 2 | Scope 3 | Other | Total (tCO2e) |
tCO₂e Per Kgs Product |
% Change |
|---|---|---|---|---|---|---|---|
| 2565 (Baseline) | 422,930 | 11,169 | N/A | 81 | 434,099 | 0.00122 | to compare baseline |
| 2566 | 340,369 | 10,221 | N/A | 59 | 350,590 | 0.00118 | -19% |
| 2567 | 352,718 | 9,757 | N/A | 81 | 362,475 | 0.00120 | -16% |
| 2568 | 329,123 | 8,849 | N/A | 193 | 337,972 | 0.00117 | -22% |
| Year | Scope 1 | Scope 2 | Scope 3 | Other | (tCO2e) | tCO₂e Per Kgs Product |
% Change |
|---|---|---|---|---|---|---|---|
| 2022 (Baseline) | 422,930 | 11,169 | N/A | 81 | 434,099 | 0.00122 | to compare baseline |
| 2023 | 340,369 | 10,221 | N/A | 59 | 350,590 | 0.00118 | -19% |
| 2024 | 352,718 | 9,757 | N/A | 81 | 362,475 | 0.00120 | -16% |
| 2025 | 329,123 | 8,849 | N/A | 193 | 337,972 | 0.00117 | -22% |
Disclosure interpretation:
GHG emissions decreased by approximately 22% from the baseline, reflecting continuous improvement driven by enhanced operational efficiency and optimized fuel management, including the adoption of lower-carbon fuels.
Total Energy Consumption
| Year | Total Energy Consumption (MWh) | % |
|---|---|---|
| 2565 (Baseline) | 460,746 | Change to compare baseline |
| 2566 | 342,936 | -26% |
| 2567 | 341,866 | -26% |
| 2568 | 316,052 | -31% |
| Year | Total Energy Consumption (MWh) | % |
|---|---|---|
| 2022 (Baseline) | 460,746 | Change to compare baseline |
| 2023 | 342,936 | -26% |
| 2024 | 341,866 | -26% |
| 2025 | 316,052 | -31% |
Insight:
Total energy consumption has declined significantly compared to the baseline, demonstrating ongoing improvements in operational efficiency and energy management practices.
Electricity Consumption
| Year | Total Energy Consumption (MWh) | % |
|---|---|---|
| 2565 (Baseline) | 23,512 | Change to compare baseline |
| 2566 | 20,445 | -13% |
| 2567 | 19,516 | -17% |
| 2568 | 18,629 | -21% |
| Year | Total Energy Consumption (MWh) | % |
|---|---|---|
| 2022 (Baseline) | 23,512 | Change to compare baseline |
| 2023 | 20,445 | -13% |
| 2024 | 19,516 | -17% |
| 2025 | 18,629 | -21% |
Result:
Electricity consumption decreased by approximately 21% from the baseline, exceeding the Company’s reduction targets and reflecting effective energy optimization measures.
Renewable Energy – Solar
| Year | Total Energy Consumption (MWh) | % |
|---|---|---|
| 2565 (Baseline) | 3,384,229 | Change to compare baseline |
| 2566 | 3,343,079 | -1% |
| 2567 | 3,395,754 | 0% |
| 2568 | 3,176,918 | -6% |
| Year | Total Energy Consumption (MWh) | % |
|---|---|---|
| 2022 (Baseline) | 3,384,229 | Change to compare baseline |
| 2023 | 3,343,079 | -1% |
| 2024 | 3,395,754 | 0% |
| 2025 | 3,176,918 | -6% |
Insight:
Renewable energy generation remains a key contributor to reducing Scope 2 emissions and supports the Company’s ongoing energy transition strategy
Fuel Consumption
- Diesel
| Year | Diesel ( litres) | % |
|---|---|---|
| 2565 (Baseline) | 1,154,674 | Change to compare baseline |
| 2566 | 1,096,672 | -5% |
| 2567 | 1,013,534 | -12% |
| 2568 | 871,637 | -25% |
| Year | Diesel ( litres) | % |
|---|---|---|
| 2022 (Baseline) | 1,154,674 | Change to compare baseline |
| 2023 | 1,096,672 | -5% |
| 2024 | 1,013,534 | -12% |
| 2025 | 871,637 | -25% |
Diesel consumption has steadily declined, driven by efficiency improvements and fleet optimization initiatives.
- Coal
| Year | Fuels ( Tons) | % |
|---|---|---|
| 2565 (Baseline) | 55,755 | Change to compare baseline |
| 2566 | 47,496 | -15% |
| 2567 | 39,554 | -29% |
| 2568 | 32,466 | -42% |
| Year | Fuels ( Tons) | % |
|---|---|---|
| 2022 (Baseline) | 55,755 | Change to compare baseline |
| 2023 | 47,496 | -15% |
| 2024 | 39,554 | -29% |
| 2025 | 32,466 | -42% |
Coal consumption has decreased significantly, reflecting the Company’s fuel optimization strategy and transition toward higher-efficiency and lower-carbon alternatives.
Target vs Performance
| Strategic Focus | Baseline Year | Strategic Focus | Latest Performance | Status |
|---|---|---|---|---|
| Electricity reduction | 2565 | ≥7% | -21% | Achieved |
| Fuel reduction | 2565 | ≥5% | -33% | Achieved |
| Renewable energy | 2565 | To compare baseline | ~3.17M kWh | Ongoing |
| Energy intensity | 2565 | Continuous reduction | Improved | Achieved |
| GHG emissions | 2565 | Continuous reduction | -22% | Achieved |
| Strategic Focus | Baseline Year | Strategic Focus | Latest Performance | Status |
|---|---|---|---|---|
| Electricity reduction | 2022 | ≥7% | -21% | Achieved |
| Fuel reduction | 2022 | ≥5% | -33% | Achieved |
| Renewable energy | 2022 | To compare baseline | ~3.17M kWh | Ongoing |
| Energy intensity | 2022 | Continuous reduction | Improved | Achieved |
| GHG emissions | 2022 | Continuous reduction | -22% | Achieved |
Time Horizon Targets
| Timeframe | Strategic Focus |
|---|---|
| Short-term (1–3 years) | Improve energy efficiency and manage Scope 1–2 emissions |
| Medium-term (3–10 years) | Reduce emission intensity and expand Scope 3 coverage in key categories in value chain |
| Long-term (>10 years) | Achieve Net Zero emissions |
Financial Impact and Strategic Relevance
- Reduced exposure to electricity cost risks, with electricity consumption decreasing by approximately 21% from the baseline year
- Decreased reliance on high-carbon fuels and reduced risks associated with fuel price volatility
- Improved operational efficiency and enhanced competitiveness in energy-intensive industries
- Strengthened readiness for ESG assessments by investors and increased opportunities to access green financing in the future
Data Credibility
- Greenhouse gas emissions data is prepared in accordance with the principles of the GHG Protocol
- Disclosure of key metrics, targets, baseline year, and progress to support transparency in line with ESG evaluation frameworks
- Scope 1 and Scope 2 emissions data are externally verified by an authorized verifier, with ongoing development to expand Scope 3 coverage
Development Plan
- Expand Scope 3 disclosures to cover categories that are material to the value chain
- Establish medium- and long-term quantitative targets for GHG emissions reduction and energy intensity improvement
- Enhance disclosure of the share of renewable energy in total electricity consumption and develop plans to increase clean energy adoption in the future