MESSAGE FROM CHIEF SUSTAINABILITY OFFICER
In 2024, S&P Syndicate Public Company Limited proudly enters the 51st year in the food and bakery business with strength and resilience.We remain committed to conducting business with integrity, transparency, and accountability while considering all stakeholders throughout the value chain. Our mission is to deliver high-quality food, bakery products, and beverage with excellent nutritional value to bring happiness to every family, alongside fostering a balanced growth of society and the environment. Moreover, we strive to instill a culture of sustainability within the organization by fostering a strong sense of responsibility among our employees.
Despite 2024 being a challenging year for the food and bakery industry due to rapid changes including evolving consumer preferences for nutritious and environmentally friendly products, rising operational costs driven by climate change adaptation, and persistent social inequality, the business sector must proactively prepare for environmental challenges and regulatory changes such as carbon taxes and the Climate Change Act. Furthermore, it is essential to ensure balance within the value chain ecosystem.
S&P operates under a sustainable development plan aligned with seven United Nations Sustainable Development Goals (SDGs) and guided by the core 3P strategy: People, Planet, and Prosperity. In 2024, S&P conducted a sustainability materiality assessment and identified four critical topics that have the most significant impact on stakeholders; waste and food surplus management, supply chain management, health and nutrition, and energy and climate change. This ensures that key sustainability concerns are effectively addressed throughout the entire value chain.
People - Empowering Individuals and Communities: S&P recognizes the importance of human rights and, in 2024, has implemented a comprehensive Human Rights Due Diligence initiative to ensure that S&P’s operations do not negatively impact human rights throughout the value chain. For Employees, S&P continues to promote employee training and capacity-building at all levels, enabling career growth and professional development. For Customers, S&P is committed to creating high-quality products and providing accurate nutritional information to support informed purchasing decisions for health-conscious consumers. In addition, S&P also conducts continuous customer satisfaction surveys and uses the insights to enhance service quality through staff training, ensuring an optimal customer experience. For Society, S&P actively supports social initiatives, including the S&P Learning Center, which provides vocational training for dual-education students before they enter the workforce. Another key initiative, S&P Chance for Change, involves experienced professionals teaching vocational skills to inmates nearing the end of their sentences, equipping them with sustainable career opportunities and reducing social inequality.
Planet - ‘Balancing the Ecosystem’: This year, S&P has developed a Decarbonization Roadmap to guide the efforts in adopting environmentally friendly business practices, aiming for net-zero greenhouse gas emissions by 2065. We also focus on waste management in both production processes and post-consumption phases by implementing circular economy initiatives to maximize resource efficiency. Key projects include S&P Food Rescue Project, which donates surplus baked goods to local communities, Fried to Fly Project with the purpose to re-use cooking oil for sustainable aviation fuel production. In recognition of these efforts, S&P was honored with the Climate Action Leading Organization (CALO) Award 2024 by the Thailand Greenhouse Gas Management Organization (TGO). Furthermore, 12 S&P outlets received the Gold-Level Green Restaurant Award, and we continue expanding the participation in this initiative. S&P has also pledged the commitment as a Green Coffee Shop under the Department of Climate Change and Environment, further strengthening its environmental responsibility.
Prosperity - ‘Strengthening Organizational Resilience’: S&P upholds ethical business principles, ensuring transparency, accountability, and a zero-tolerance policy toward corruption. We are committed to sustainable supply chain management by sourcing high-quality raw materials directly from farmers and local suppliers, ensuring food safety and quality while fostering sustainable income for communities. Besides, S&P integrates technology and innovation to enhance product quality, improve operational efficiency, and strengthen cybersecurity, ensuring the highest level of trust and protection for its stakeholders.
Reflecting our strong performance in sustainability in 2024, S&P received AA Rating in the SET ESG Ratings 2024, awarded by the Stock Exchange of Thailand, 5-Star “Excellent” rating in the Corporate Governance Report of Thai Listed Companies 2024 (CGR) by the Thai Institute of Directors (IOD), underscoring S&P’s dedication to sustainable value chain management.
Despite these successes, S&P remains vigilant in assessing risks and opportunities to proactively navigate challenges that may impact the business. S&P continues to pursue the long-term sustainability goals under the guiding principle of “Healthier Family, Happier World”, delivering high-quality food, bakery, and beverages that bring lasting happiness to customers and communities.
