TVO values on balancing and assessing the business's success with protecting the environment (Environment), social responsibility (Social), including creating business growth with transparency and accountability (Governance) or ESG.
TVO addresses the importance and focuses on conducting business with honesty, transparency, and fairness. In 2018, the Company has determined policy on supervision and compliance with the regulations as a guide for compliance with the rules, regulations, law related to its business for directors, executives and employees. The policy is aimed to leverage policy of good corporate governance which will eventually create reliability of the company and trust among stakeholders and to create sustainable success for the entire organization.
In 2018, the Company reviewed the Business Code of Conduct to optimize the content to meet changes in situation and business environment. The Business Code of Conduct is a guideline for performing duties with integrity, honesty, transparency, morality and ethics.
In 2018, TVO reviewed and amended Anti-Corruption policy and handbook to meet the current situation. The Company also emphasizes the importance of risk management on corruption, work procedures, internal control, monitoring and review of the anti-corruption measures. Additionally, the Company performs the followings.
Amid the rapid change of business environment and more intense competition nowadays, it is crucial that TVO adjusts itself after the situation. Risk management is an important management process and it is also a preparation for the Company to be able to cope with the changes efficiently, to add value to its business, to create confidence among stakeholders and to create value to the organization in the long term.
TVO places importance on comprehensive management of the value chain to assure sustainability at work. The risk management is conducted with concern on the impacts that may occur to the business, environment, society and good corporate governance.
Soybean is the primary raw material of the Company. Therefore, sustainable procurement of raw materials is vital to TVO's business operations. The Company has the policy to purchase soybean from local farmers as a part of creating a career and income for farmers and communities to have a better quality of life and well-being as well as creating economic sustainability.
the Company purchased 100% of soybean from local suppliers with the grade for the extraction plant
Apart from this, TVO has supported “Pracharath Large-Scale Farming Project: reduce cost and increase soybean productivity of Maetang colony cooperative, Chiang Mai province” for the two consecutive years to further develop and promote the cultivation of soybeans for Thai farmers. Organic fertilizers are used to increase productivity and reduce the cost of farmers participating in the project. The project also creates prototypes for safe soybean production as well as increasing the yield which farmers can manage themselves.
The soybean yield of the farmers who entered the project is 360 kilograms per rai. (Higher than the average output of Thailand.)
However, due to the insufficient amount of soybean productivity in Thailand, TVO has to import soybean from the country such as Brazil and the United States mainly. TVO works closely with suppliers to plan the procurement of raw materials so that the productivity is efficient and the operation is without interruption. The Company conducts surveys in the soybean planting area in the country of origin, in order to assess the balance between demand and supply of raw materials from each source and to anticipate environmental factors that may affect the procurement of raw materials, such as seasonal changes, harvest time, quality and price, including studying information from various analysis and research.
The cost of soybean cultivation of the farmers participating in the project is 1,614 baht per rai. (Lower than the average price of in the Thai market.)
Furthermore, TVO has a selection process for reliable partners, with the possibility to check the history of the source of raw materials to ensure that raw materials are not involved with deforestation or with the child labor, not violating human rights. The Company has joined Sedex as a member of the Ethical Trade Audit and RTRS (Round Table on Responsible Soy Association).
TVO recognizes the importance of protecting the environment to prevent and show responsibility for the effects that may result from the operations of the Company. Hence, the Company has set a policy on Quality, Occupational Health, Safety, and The Environment as a guideline for working in environmental preservation, producing quality products that meet the standards and also a health and safety concern of employees and stakeholders. The Company also issues the policy on Energy Efficiency to conserve energy and as a guideline for the promotion of efficient energy for maximum productivity and benefits. The Company determines that energy conservation is to be a part of the business operations and to continuously improve the proficient use of corporate resources and suitability for the business. The energy conservation is the responsibility of executives and staff at all levels.
Appointing an Energy Management Working Group to continue consistent energy management, operations efficiently and effectively consistent with the energy efficiency policy. Regularly review the energy policy and energy management.
TVO has the energy management system certified with ISO 50001, ISO 14001 environmental management system (factory 1) and the Green Industry Level 3 (Green Industry).
Wastewater is water pollution that affects the ecological changes and quality of life of the community. TVO has initiated the Nano Neutralization Innovation Project to improve efficiency within the production process of pure soybean oil refinery. The project outcome not only increases the productivity of pure soybean oil but also reduce the amount of wastewater by 40 percent or reduce approximately three hundred thousand baht per year for the cost of wastewater treatment.
TVO chooses to use biomass (rice husk) which are a type of energy that helps reduce greenhouse gas emissions into the atmosphere. The Company uses rice husk as fuel to produce energy for boilers, which may have an adverse effect on the air pollution from dust. The Company has taken measures to manage dust caused by the production process from the boilers by installing dust trap equipment such as Multi Cyclone, Web Scrubber. The Company regularly monitors the air quality emitted from the boilers, check the reliability of the equipment and the operation of the boilers and control the operating conditions to meet the standards. Moreover, the Company assigns the community relations team to inspect the area, meet the community, inquiring for irregularities that may occur from the production process not less than 2 times per month to ensure that the air quality around the factory is standardized and in accordance with the law.
TVO has determined and control the production condition that generates an unpleasant odor. Initially, the Company checks and monitors production standard on a regular basis. The Committee that manages the odor issue holds a meeting or discussion weekly. A working team performs inspections, follow-ups, analysis, evaluation and a team for maintenance to ensure the machine is ready for continuous production. Furthermore, the design team uses technology in the production process to keep the odor within the criteria set forth which is less than level 1 (a little odor level: no smell to a faint odor). The odor measurement criteria has 3 levels, and level 3 is the highest odor concentration.
The Company has additionally installed a deodorizing system at Extruders, improves and changes to a special version of filter bag to absorb odor more efficiently. The Company issues a monitoring plan to prevent residues in the system, prevent odor from the production process of full-fat soy. Moreover, the wet scrubber treatment system has been improved to be more effective at the distilling process of pure soybean oil.
TVO focuses and gives importance on energy management, promotes energy conservation and the use of energy for maximum efficiency and effectiveness. The Company has joined the Carbon Footprint Promotion Program with Thailand Greenhouse Gas Management Organization (Public Organization) or TGO and is authorised to use carbon footprint certification marks or the amount of greenhouse gases released from each product throughout the life cycle of the product. This includes 47 certified products for carbon footprint reduction and subsequently, in 2018, 17 products from 47 are marked with the label “Carbon Footprint Reduction.”
Over 10.27 million kilograms of the greenhouse gas emissions from 17 products were reduced. Over 2 percent reduction
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