At a Glance

TVO has operating in a way of sustainable development according to good governance which covers economy, society and environment to response stakeholders need and supports the Sustainable Development Goals (SDGs) of the United Nations.

Sustainability Performance in 2022

Economic Aspect

Number of complaints for violations of the Code of Conduct was 0 case.

Number of corruption complaints of all kinds were 0 case.

100% of new partners in 2022 passed selection by using ESG criteria and the new partner application form.

100% of new partners in 2022 responded to the self-declaration.

100% of new suppliers in 2022 acknowledged and signed acceptance of the Business Partner Code of Conduct.

The average satisfaction assessment results for all products equal to 92.84%.

Environmental Aspect

Reducing Carbon Footprint and Greenhouse Gas Emissions
  • Organization level: TVO was certified by the Thailand Greenhouse Gas Management Organization (TGO) with a carbon footprint for the organization.
  • Product level: TVO is pending requests for certification of carbon footprint labels on 19 lists.

Electricity Usage
  • Extraction Plant: The electricity consumption was 29.5 units per ton of soybeans, which decreased from 2021.
  • Refinery Plant: The electricity consumption was 27.5 units per ton of crude oil, which decreased from 2021.

Steam Usage
  • Extraction Plant: The stream consumption was 312.4 kilograms of steam per ton of soybeans, which decreased from 2021.
  • Refinery Plant: The stream consumption was 186.5 kilograms of steam per ton of crude oil, which decreased from 2021.

Fuel Consumption Rate from the chaff

The fuel consumption rate from the chaff was 236 kilograms of the chaff per ton of steam, which decreased from 2021.

Water Usage

The water usage was 0.73 cubic meters per ton of beans, which decreased from 2021.

Reducing Waste from Production Processes

The proportion of waste utilization compared to total demolition from 91% in 2021 to 94% in 2022.

Social Aspect

Human Rights

The number of human rights complain was 0 case.

Employee Stewardship and Development
  • Employee-developed training accounted for 85.82% of all employee training, with an average of 14.54 hours of training per person per year.
  • More than 70% (963 people) of all employees lived in Nakhon Pathom Province.

Safety and Occupational Health
  • No accidents case to stop working consecutively 1,617,184 hours of work.
  • The TRIR value (Total Recordable Injuries Rate) was 0.25, which decreased from 2021 that was lower than the average in Starch and Vegetable Fats and Oil Manufacturing (NAICS 311220), which is 1.0.

Participation in Community and Social Development

65 projects that TVO contributed to taking care of the surrounding community, especially for the hygiene of people's health and taking responsible for social and environment.

Sustainability Structure

Stakeholder Engagement

TVO addressed the value of stakeholder engagement through communication and work procedures in order to receive suggestions to meet the needs and expectations of stakeholders. The stakeholders can be classified into 7 groups, namely: 1) Employees 2) Customers and consumers 3) Suppliers 4) Shareholders 5) Community & Society 6) Competitors and 7) Government Agencies. TVO has procedures that enhance stakeholder engagement through various channels, as follows:

Materiality assessment and Issues of sustainability

TVO identified, collected, and assessed materiality issues of sustainability through the analysis of the related issues throughout the Company’s supply chain, considering the important factors to business operation in the aspects of economy, society, and environment, in accordance with the requirements, expectations of and impacts towards stakeholders. The four steps of assessment and prioritization as referred to the Global Reporting Initiative (GRI) Standard are as follows:

  1. Important issue identification
    Identification of important issues regarding sustainability, the Company collected issues in the aspects of economic, environmental, and social both internal and external data, such as the Sustainable Development Goals (SDGs), sustainability trends, requirements, the organization's strategic direction, assessments of risks and opportunities that may affect business operations, creating shared value, and responding to the expectations of all stakeholders.
  2. Prioritization
    Prioritization of sustainability is carried out by considering the importance level of the issues for the organization and stakeholders by categorizing into two groups as follows:
    • Highly important issues for the organization and stakeholders, affecting the whole organization and operational results
    • Moderately important issues for the organization and some groups of stakeholders
  3. Approval of sustainability assessment results
    Sustainable Development Section of The Office of the Secretary was responsible for collects and summarizes important issues presented to the Chief Executive Officer for consideration of approving and certifying the results of the assessment of key sustainability issues.
  4. Formulation of sustainability strategies and goals
    The key sustainability issues were identified will be brought into the Company’s management meeting to assign the relevant departments in each aspect to determine long-term strategies, goals, and related operational activities.
  5. Verification and Constant Development of Sustainability Report
    The Sustainability Report 2022 gave an opportunity for all stakeholders to review and verify this sustainability report via various channels, such as surveys at the end of the report or The Company’s website to gather and propose the evaluation result to the Environmental and Social Working Group for approval or improvement. The sustainability targets also improve the participation process of stakeholders to truly reflect their requirements and expectations
Materiality Matrix
  1. Risk and crisis management
  2. Good corporate governance
  3. Responsible with sustainable procurement
  4. Product development for changing requirements
  5. Digital transformation and cyber security
  6. Climate change and greenhouse gas
  7. High-efficiency use of resources (Energy, Water, and Waste in the operation process)
  8. Caring and creating value for all stakeholders
  9. Human rights
  10. Safety and occupational Health

149 Ratchadapisek Road (Thapra-Taksin) Bukkhalow Thonburi Bangkok 10600


81/7 Moo 1, Tambon Thaiyawas Nakorn Chaisri District, Nakorn Pathom Province 73120


+66 2 477 9020