Thai Union Announces the Initiation of SeaChange® 2030, Pledging 7.2 Billion Thai Baht (Approximately 200 Million USD) to Promote Sustainability Objectives

Bangkok, July 18, 2023 – Today, Thai Union Group PCL, a leading global seafood company, unveiled SeaChange® 2030, its advanced sustainability initiative aimed at revolutionizing the seafood sector. This initiative is a response to the urgent climate crisis and the vital role oceans play in providing livelihoods and nutrition, particularly in developing nations. In a bold move, Thai Union has dedicated its entire net profit for 2022, amounting to THB 7.2 billion (approximately USD 200 million), to fund SeaChange® until 2030, introducing ambitious objectives to influence the seafood industry worldwide. SeaChange® 2030 significantly broadens the scope of Thai Union's sustainability efforts initiated in 2016, featuring 11 interrelated objectives that align with 10 of the United Nations’ Sustainable Development Goals. These objectives include a 42% reduction in greenhouse gas emissions by 2030, sourcing 100% of wild-caught seafood responsibly, ensuring all shrimp aquaculture minimizes environmental impact, and committing over USD 7 million towards ecosystem restoration. Additionally, the company aims for zero deforestation in its soy and palm oil supply chains, zero waste to landfill, and significant advancements in workplace diversity and safety, among other goals. Thai Union's commitment extends to reducing ocean plastics by 1,500 tons, ensuring all branded products meet nutritional guidelines, achieving sustainable packaging for all branded products by 2025, and investing another USD 7 million in community support. These efforts are designed to mitigate environmental impact, promote sustainable practices across the value chain, and contribute to a healthier planet. To realize these ambitions, Thai Union is collaborating with key sustainability and conservation organizations, including the Sustainable Fisheries Partnership, Aquaculture Stewardship Council, The Nature Conservancy, IDH – the Sustainable Trade Initiative, and The Global Ghost Gear Initiative. The company is also aligning its net-zero targets with the Science Based Targets initiative (SBTi) and leveraging new environmental data collection tools to support a net-zero economy, marking it as the first global seafood company with SBTi-verified goals. Adam Brennan, Thai Union's Chief Sustainability Officer, emphasized the necessity for the seafood industry to intensify its efforts in safeguarding the oceans, people, and the planet. He highlighted the importance of collaborative action to achieve structural changes within the industry. Thiraphong Chansiri, President & CEO of Thai Union, views SeaChange® 2030 as essential to the company's operation, aiming to responsibly manage resources to ensure long-term nourishment and employment opportunities globally. This strategy is pivotal not only for Thai Union but for the broader community's benefit. For more details on SeaChange® 2030, please visit the initiative's website. About Thai Union: For over 46 years, Thai Union Group PCL has been at the forefront of the global seafood industry, offering high-quality, nutritious, and innovative seafood products. With a workforce of over 44,000, the company's portfolio includes leading international and Thai brands, contributing to its position as a pioneer in sustainable and innovative seafood products. Thai Union's commitment to sustainability has been recognized globally, with consecutive listings on the Dow Jones Sustainability Indices and other prestigious indexes. For more information on Thai Union's sustainability efforts, visit their dedicated website.