Sustainability investment doubled by Thai union to benefit oceans and communities

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Unrelenting in his pursuit of sustainability, Thiraphong Chansiri, CEO of Thai Union Group PCL, a dominant player in the global seafood manufacturing scene, divulged pivotal advancements in the company’s ecological strategy.

 

Always at the forefront of advocating sustainable business practices, Thiraphong explained the profound pressure on our oceans, harbouring the livelihood and sustenance of up to 600 million people, particularly in lesser developed nations. He is of the firm belief that an escalation in the company’s sustainability goals is an urgent necessity.

 

Thai Union initially introduced SeaChange in 2016, seeing a colossal investment of US$100 million set aside to revolutionise the seafood sector. This pioneering endeavour has since doubled, climbing to a staggering US$200 million, equal to the Thai Union’s total 2022 net profit of 7.2 billion baht. The amplified funds are expected to expedite the SeaChange initiative’s ambitious objectives for the decade leading to 2030.

 

Thiraphong made clear his understanding of the urgency. He said…

 

“This significant investment is not just an expense; it is truly for all stakeholders. It is the key to safeguarding our collective sustainable future.”

 

He elaborates on the worsening state of the environment, proclaiming that the time for transformative change is now imminent. SeaChange 2030 is emblematic of this new era of ambitious, planet-saving objectives that will restructure the worldwide seafood value chain.

 

Ambitious in its plan, SeaChange 2030 seeks to invigorate not only the ecosystem but the very communities that rely upon it. Thiraphong believes the well-being of the people must be prioritised equally to sustainable sourcing and operations. This goal is aligned with 10 of the United Nation’s Sustainable Development Goals to ensure a resilient seafood industry.

 

Thai Union’s chief sustainability officer, Adam Brennan, made note of their climate action commitment.

 

By Alex Morgan

Caption: Photo courtesy of Bangkok Post

 

Full Story: https://thethaiger.com/news/business/thai-union-doubles-sustainability-investment-to-benefit-oceans-and-communities

 

-- © Copyright Thaiger 2023-07-19

 

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