The Eco-Solution Model begins by collecting plastic waste including post-industrial recycled (PIR) and postconsumer recycled (PCR) products through our collector network. The collected plastics are subsequently sorted and directed either to gasification/pyrolysis or back into the system for further use. In the case of the latter, Plastic waste is recycled based on material types (PP, HDPE, PS) or upcycled into new materials, such as partition walls or barriers. The primary goal is to strengthen our recycled compound business by using post-consumer recycled (PCR) materials to meet customer needs and respond to the principles of the circular economy. In 2023, IRPC produced post-consumer recycled compound made with used plastics, significantly strengthening our business’s competitiveness and positively influencing the overall industry landscape. Furthermore, IRPC has collaborated with the National Research Council of Thailand and Kasetsart University on the joint initiative “Leading the Nation towards a Zero Plastic Waste Society, with the objective to effectively manage plastic waste right from its source, ensuring there is no waste polymer for disposal throughout every stage of the supply chain. Through this initiative, IRPC has become the first Thai company to receive certification for Zero Plastic Waste in the Production Process. This milestone will contribute to the advancement of the country’s plastic industry and serve as a model for other ASEAN countries in the future. In evaluating the extent of implementing circular economy principles, IRPC, as part of the PTT Group, refers to BSI Standard (BS 8001:2017) for self-assessment to inform the to acknowledge the level of circularity maturity level for the second consecutive year. This iterative process helps to provide insights into the organization’s current state of application and commitment to circular economy principles. Moreover, it serves as a catalyst for fostering continuous improvement and progress within the organization. Implementation IRPC aims to continuously expand our circular economy projects to enhance business growth opportunities and to produce recycled compound products. Over the past year, IRPC has implemented projects throughout the value chain to bring waste plastic from the production process (Post-Industrial Recycled) and recycled plastics (Post-Consumer Recycled) back for optimal use through collaborations with various partners. Additionally, IRPC has implemented projects based on the 3Rs approach (Reduce, Reuse, Recycle) to ensure the most efficient utilization of resources. • Bio-based Polypropylene Project Bio-based products include Polypropylene Grade W1561RW, or Polypropylene (PP) compound with 30% Thai wood pulp powder, an industrial waste, as substitute for natural wood. The plastic compound is used to manufacture lightweight plant pots that look like wooden ones. The product received certification US FDA 21 CFR 177.1520 certification (Olefin Polymers), Regulation (EU) No. 10/2011 IRPC developed products that reduce the use of limited resources, including: 127 Business-Driven Sustainability 56-1 ONE REPORT 2023
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