Thai Union Group, the world's seafood leader, has become a signatory to two ambitious global environmental initiatives - Ocean Breakthroughs and Transforming our Food Systems - at the UN Climate Conference in Dubai, reinforcing the Company's commitment to sustainable practices and responsible stewardship of the planet's resources.
"Thai Union's support of these critical calls to action marks a significant milestone in our sustainability journey," said Adam Brennan, Chief Sustainability Officer, Thai Union Group. "These initiatives represent an important step in addressing two of the most pressing environmental challenges facing our planet, and becoming a signatory underscores Thai Union's commitment to playing a leading role towards a more sustainable and resilient future."
The Ocean Breakthroughs initiative, spearheaded by the UN Climate Change High-Level Champions, aims to harness the ocean's potential to contribute up to 35 percent of the required GHG emissions reductions by 2050. Signatories to Ocean Breakthroughs call on all governments by 2030 to develop and implement Sustainable Ocean Plans, a framework for ocean-related governance which outlines policies and mechanisms that allow for the sustainable utilization of the ocean's resources. The plans foster cooperation among ocean users and balance climate considerations, marine ecosystem protection, and economic development.
The Transforming our Food Systems initiative calls for a resilient, fair, and sustainable transformation of food systems. It addresses the challenges posed by climate change, biodiversity loss, and unsustainable practices in global food and agriculture. The initiative seeks to ensure food and nutrition security while reducing the environmental impact of food systems.
"These commitments are also in line with Thai Union's vision of a sustainable future where the ocean continues to be a source of life and livelihood for millions of people around the world," said Brennan. "Through our SeaChange(R) 2030 sustainability strategy, we aim to contribute significantly to global efforts in combating climate change and promoting sustainable food systems. It is a responsibility we take seriously as a leader in the seafood industry."
SeaChange(R) 2030 strategy includes 11 interconnected goals that will drive global impact for both people and planet, while actively supporting the delivery of 10 of the United Nations' Sustainable Development Goals. The goals include a 42 percent reduction to Scope 1, 2 and 3 greenhouse gas emissions by 2030 and net zero by 2050; a THB 250 million (more than USD 7 million) investment towards the protection and restoration of critical ecosystems; ensuring 100 percent of branded ambient products meet nutritional guidelines and 100 percent of new ambient products drive positive nutrition; and ensuring that 100 percent of soy and palm oil will be certified and there is zero deforestation across Thai Union's supply chain.
Thai Union Group PCL, the world's seafood leader, has had its foreign currency issuer credit rating affirmed at A with a stable outlook by the Japan Credit Rating Agency, Ltd. (JCR), reflecting the Company's strong brand power and high earnings stability. This foreign currency issuer credit rating is the same level as the sovereign credit rating of Thailand from JCR. The local currency long-term issuer credit rating by JCR was also assigned at A with a stable outlook. JCR highlighted Thai Union
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