The abovementioned factors directly affect the company’s petroleum and petrochemical businesses. Therefore, the company continues exploring new opportunities for the long term by closely monitoring ongoing and emerging Megatrends, which currently have a material business impact on the company, namely 1. Disruption Technology, such as the use of digital technology, AI robotic innovation, electric vehicle innovation, etc. 2. Demographic Change, including migration, urban population growth, rising middle class income, aging society, etc. 3. Decarbonization, including transition toward low carbon society, stricter environmental laws and regulations and circular economy, etc. 4. De-Globalization, including conflicts and geopolitical tensions in many countries and regions, expansion of economic communities, and emerging economies, etc. Opportunity and Threat along Megatrends KEY FOCUS AREA Material Utilization Energy Transition Sustainability Technological Innovation: 3D printing, AI, AR, VR Future of Energy: Solar, Wind, H2 Climate change: De-Carbonization, Circular Smart Mobility: EV battery and component Health and Wellness: Health supply and devices Electronics: SMART devices, Internet of things Disruption Technology • Robotic & Automation • Tech for Mobility De-globalization • Geopolitics tension • Emerging Countries Demographic Shift • Health&Hygiene conscious • Urbanization • ExoSkeleton De-carbonization • Global climate change • Net Zero Emissions • Circular Economy 89 Structure and Business Operations of IRPC 56-1 ONE REPORT 2023
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