Embracing the ‘Grow Together’ Approach to Sustainability

Embracing the ‘Grow Together’ Approach to Sustainability

Mitr Phol Group’s Pursuit of the Top Sustainability Ranking Worldwide

In the rapidly evolving global landscape, adopting sustainable business practices within the Environmental, Social, and Governance (ESG) framework is increasingly recognised as an urgent necessity, not just a desirable add-on. This urgency is amplified by the pressing environmental challenges that demand immediate action. Moreover, contemporary consumers are more discerning about the social and environmental commitments of brands.

“Terms like Corporate Social Responsibility (CSR), ESG, and sustainability have become far more prevalent in recent years than they were over the past 70 years. Our core belief is in the interdependence of 

individuals, society, and the environment. Our vision at Mitr Phol Group is encapsulated in the ethos of ‘Grow Together,’ a testament to our commitment to sustainability, mirroring the essence of our name and business philo- sophy,” explained Mr. Buntoeng Vongkusolkit, Chairman of Mitr Phol Group, highlighting the company’s dedication to fostering sustainability. 

This foundational philosophy has given rise to the ‘Grow Together’ principle, which signifies a harmonious and collaborative working model. This approach is emblematic of Mitr Phol’s identity, symbolising a bond with cane growers and consumers that has been nurtured over 67 years. The ethos of ‘Grow Together’ is deeply ingrained in Mitr Phol’s DNA, underscoring the company’s pledge to support sustainable growth across all sectors. It has been the company’s guiding motto from its inception and continues to steer its quest to achieve the highest sustainability ranking in the food products category of the S&P Global Corporate Sustainability Assessment (CSA) 2023. This assessment saw participation from over 9,400 companies across 62 industries, akin to the evaluation criteria of the Dow Jones Sustainability Indices (DJSI) for publicly traded companies. 

“Key to our strategy is aligning our business operations with the three pillars of sustainable development – economic, societal, and environmental. Essential to this approach is the continuous enhancement of our operations by benchmarking against international standards, such as the S&P Global assessment. This process helps us identify strengths and areas for improvement, setting our future objectives. Despite not being publicly listed, Mitr Phol Group is deeply committed to advancing our sustainability initiatives. This commitment led us to participate in sustainability assessments six years ago, resulting in steady improvements and propelling us from 17th to ultimately 1st place in 2023,” Mr. Buntoeng shared. 

“Mitr Phol Group has its roots in agriculture, a sector that touches the lives of countless individuals, from cane growers to consumers. We recognise the significant role agriculture plays in sustainable development, providing food, renewable energy, and raw materials for the bio-industry. This contributes to mitigating climate change and fostering a sustainable balance. Developing our business while enhancing Thailand’s agricultural sector to pass on a legacy of sustainability to future generations remains a pivotal goal,” Mr. Buntoeng added. 

In the latest S&P Global assessment, Mitr Phol Group achieved the highest overall score, securing the top position (Top 1%), with exceptional marks in environmental and social initiatives. Notably, the Mitr Phol Dan Chang Complex in Suphan Buri Province reduced greenhouse gas emissions by over 270,000 tonnes of CO2 equivalents, earning the distinction of Thailand’s first Carbon Neutrality Complex certified by the Thailand Greenhouse Gas Management Organization (TGO). Furthermore, Mitr Phol aims to attain carbon neutrality across all its factories, contributing to a reduced carbon footprint through comprehensive operational, supply chain, and eco-friendly business investments. 

On the social front, Mitr Phol is committed to empowering cane growers with knowledge and skills to adapt to environmental changes. Through the ‘Mitr Phol ModernFarm’ initiative, the company leverages digital technology and innovative management to enhance agricultural productivity, lower costs, and protect the environment. The company’s fresh sugarcane leaf purchase program, aimed at using the leaves as biomass electricity fuel, not only incentivises farmers to adopt environmentally friendly practices but also supports community development and sustainable livelihoods. 

Economically, Mitr Phol is focused on developing sugar production, green energy (biomass electricity and ethanol), fertilisers, animal feed, and bio-based industry materials under the ‘From Waste to Value Creation’ concept. This aligns with the circular economy principle, optimising resource use to achieve maximum efficiency. 

“Moving forward, Mitr Phol Group is dedicated to advancing sustainable development in line with the United Nations’ Sustainable Development Goals (SDGs) across economic, social, and environmental dimensions. Our goal is to achieve Carbon Neutrality by 2030 and Net Zero by 2050, contributing to global efforts to combat climate change in Thailand and worldwide,” concluded Mr. Buntoeng. 

www.mitrphol.com 

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