GFPT PCL
GFPT:TB TH0297010Z02
Key Information
HQ:
Thailand
Market Cap:
$0.43bn
Primary Market:
Asia
Company Information
Company Summary
GFPT is a fully vertically integrated producer and distributor of frozen chicken meat, processed chicken, and animal and aquatic feed for Thai and overseas markets. Almost 45% of its revenues are from fresh poultry sales and 30% from chicken farms and sales of day-old chicks.![GFPT PCL](http://images.ctfassets.net/kc2xclar6nri/4HX1Oy9hUiJYp3qQ2uu7c2/7f9c56fc134bdd6ea4738f1cc10a2afe/GFPT_PCL.jpg?fit=scale&w=1320&fm=webp)
Revenue
Total revenue:
$0.4bn
Revenue by Geography
Revenue by Protein
Revenue by Product Type
Disclosures
CDP ScoresLast Reviewed: 11/10/2023
CDP Climate | CDP Forests | CDP Water |
---|---|---|
No | No | No |
Science Based Target initiativeLast Reviewed: 03/10/2023
Target classification | Status | Date |
---|---|---|
Has not set SBT | - | - |
Coller FAIRR Protein Producer Index
Analysis Overview
Greenhouse Gas Emissions Deforestation & Biodiversity Water Use & Scarcity Waste & Pollution Antibiotics Animal Welfare Working Conditions Food Safety Sustainability Governance Alternative Proteins
Analysis Breakdown
Risk Score
18/100
High Risk
Greenhouse Gas Emissions
7/100
Scope 1, 2 & 3 Target
5/100
Type of Target
The company does not have a science-based emission reduction target.
0/3
Strength of Target - Non-SBT
The company has not set an emissions reduction target. However, it discusses different measures to reduce energy consumption. It sources various commodities, including maise, soybean, and soybean meal, for animal and aquatic feed. Emissions from these should be accounted for in Scope 3 emissions. However, it must disclose whether it has set targets to reduce GHG emissions from Scope 3.
0.25/2
Innovation on GHG Emission Reduction
0/100
Innovation to Reduce Agriculture Emissions
The company does not discuss whether it is working with suppliers to reduce emissions from agriculture.
0/1
Feed Farming Innovation
The company does not engage in innovative projects to reduce or mitigate emissions from feed farming
0/2
Animal Farming Innovation
The company does not engage in innovative projects to reduce or mitigate emissions from animal farming
0/2
Quality of GHG Inventory
10/100
Quality and scope of GHG inventory Completeness
The company discloses information on various energy-saving measures implemented and overall energy usage. It reports a decrease in absolute electricity consumption compared to the previous reporting period. It has also disclosed electricity consumption by source. However, it does not disclose any further information on its GHG inventory.
0.5/1.5
Feed & Animal Farming Emissions
The company does not disclose any information on GHG emissions from animal farming. The company does not disclose any information on GHG emissions from feed production. The company does not disclose any information on GHG emissions from land use change.
0/2
Transparency of GHG Inventory
The company does not disclose to CDP climate change questionnaire. The company does not disclose the data on GHG inventory is audited by a third party.
0/1.5
Emissions Performance
0/100
Overall Emission Performance
The company discloses its Scope 1 and Scope 2 emissions in the Annual Report 2022, but there is no disclosure in 2021.
0/5
Climate-related Scenario Analysis
20/100
Climate-related Scenarios Analysis Conducted
The company has not completed a climate-scenario analysis. However, it acknowledges that its direct and indirect business operations can be impacted by climate change including natural disasters such as drought, floods, and storms. To address those risks it reports it has a contingency in place alongside a regular monitoring plan. It also discusses that climate change and natural disasters may contribute to lower crop production, which may increase feed price volatility. This, in turn, results in increased production costs of feed and may impact the company’s overall performance.
0/1
Disclosure of Analysis Results on Material Risks
The company acknowledges the risk of feed availability and price volatility risks related to natural disasters and climate change. It manages those risks through future contracts and storing larger volumes of grains. It mentions the increase of non-raw material risks, including energy costs, and the company will increase the efficiency of energy and fuel consumption to manage the risks.
1/3
Disclosure of Financial Material Events & Alignment of CAPEX
The company does not disclose its commitment to align capital expenditures with its GHG targets.
0/1
Deforestation & Biodiversity
0/100
Deforestation/Conversion-free Target - Soy for Animal Feed
0/100
Risk Assessment to Identify High-risk Locations
The company sources various commodities, including maize, soybean, and soybean meal, for animal and aquatic feed. It discloses the main sources of soy as being the USA, Brazil, and Argentina. The company states that one of its risk management strategies is to evaluate, select and prioritise suppliers of raw materials. However, it does not disclose a risk assessment for soy sourcing in relation to deforestation.
0/0.5
Strength of Deforestation Commitment
The company does not disclose having a deforestation/conversion-free target for soy.
0/3.25
Transparency - Progress Against Commitment
The company does not report progress against its commitment. Nor did it responded to the CDP Forest Questionnaire in 2022.
0/1.25
Engagement, Monitoring & Traceability - Soy for Animal Feed
0/100
Supplier Engagement
The company does not refer to deforestation at all in its latest annual report.
0/1.25
Compliance monitoring & Traceability
The company states that it purchases feed ingredients from responsible sources, but does not provide any further detail on sourcing locations and traceability of soy.
0/3.25
Feed Innovation
The company does not discuss innovations and/or practices to move towards sustainable feed sources.
0/0.5
Water Use & Scarcity
3/100
Water Use & Scarcity in Facilities
8/100
Monitoring Water Consumption & Withdrawals
The company identifies water shortage risk as a key business risk and states that it has a water usage plan for the production process. However, it does not disclose information on whether it has conducted water risk assessments. The company discloses its total water consumption and various measures it has taken to reduce water consumption. The company also reports its water use intensity per ton of production.
0.2/0.75
Target to Reduce Water Consumption & Withdrawals
The company discloses that part of its risk management strategy is to set goals for water indicators and consumption at its processing facilities, but it does not disclose a target.
0/1
Disclosure & Performance of Water Risks in Facilities
The company discloses water usage by source in 2022. It also reports an increase in water consumption by 5.68% in FY22.
0.2/3.25
Water Use & Scarcity in Feed Farming
0/100
Supplier Engagement in Water Use in Feed Farming
The company discusses water scarcity as an emerging risk. It mentions that feed production and chicken farming may be affected by poor water quality and shortage of water. However, beyond this high-level statement, the company does not disclose information relating to water scarcity risks in feed farming, including its own.
0/2.5
Disclosure of Water Risks in Feed Farming
The company provides a high-level statement that it aims to develop animal feeds that reduce the negative impact on the environment, but does not provide any further detail.
0/2.5
Water Use & Scarcity in Animal Farming
0/100
Supplier Engagement in Water Use in Animal Farming
The company does not disclose the proportion of animal protein commodities produced and/or sourced in water-stressed areas. It does not disclose information addressing water scarcity in its animal supply chain, nor does it discuss guidance it offers to animal farmers/suppliers on water usage.
0/3
Disclosure of Water Risks in Animal Farming
The company has not established partnerships with third parties to input into sourcing/farming strategy, including water use.
0/2
Waste & Pollution
4/100
Wastewater at Facilities
11/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
The company discloses it had no fines or legal disputes for violating any environmental laws and regulations.
0.38/1.5
Transparency on Water Pollution Risks
The company discloses the average wastewater discharge from daily production for the current reporting year. Total water discharge and water discharge destination are not reported by the company.
0.19/2
Performance on Wastewater Quality & Volume Discharged
The company mentions using waste from chicken farms in biogas production to be used in animal feed factories as a risk management strategy. However, no evidence was found that the company is currently undertaking this practice. The wastewater generated has increased by 3.6% compared to the previous year. Additionally, the treated wastewater volume has remained the same in the last reporting year.
0/1.5
Nutrient Management in Feed Farming
0/100
Supplier Engagement in Nutrient Pollution Risks
The company predominantly produces chicken feed for internal use and also markets aquatic feed externally. However, the company does not disclose information relating to nutrient management in feed farming.
0/4
Innovation to Improve Nutrient Management in Feed Farming
The company does not invest in sustainable feed production to improve nutrient management or disclose information about pesticide use in its feed supply chain.
0/1
Manure Management in Animal Farming
0/100
Disclosure of Pollution Risks from Manure
The company does not disclose information relating to manure management in animal farming.
0/1.25
Supplier Engagement in Manure Management
The company does not make site-specific nutrient management plans a part of its supplier's contractual agreement and/or own farms management. Nor does it provides technical and/or financial support to suppliers and/or own farms to develop nutrient management plans and improve manure storage.
0/1.5
Innovation to Improve Nutrient Management in Animal Farming
The company does not integrate nutrient management performance into incentive schemes for farmers. It does not discuss innovation in manure or provide evidence of a community engagement plan in relation to pollution.
0/2.25
Antibiotics
15/100
Policy on Antibiotics Use
30/100
Policy on Antibiotics Use
The company commits to a "no-antibiotics-ever" programme for raising its chickens, ensuring the products are of high quality, free from antibiotics and growth hormones, and comply with the Genesis GAP and the EU importer standard for chicken production. However, it does not disclose explicit details on additional animal welfare measures.
1.5/5
Disclosure of Quantity of Antibiotics Used
0/100
Disclosure of Quantity of Antibiotics Used
The company does not disclose the quantity of antibiotics used.
0/5
Animal Welfare
45/100
Animal Welfare Policy
66/100
Welfare Policy
The company recognises the importance of animal welfare and commits to the Five Freedoms for Animals. It also provides animal welfare training to employees and is certified in accordance with Genesis GAP (Good Agricultural Practices), which requires annual internal audits. However, it lacks disclosure on actions taken for non-conformances related to animal welfare.
0.88/2
Key Welfare Issues
The company commits to allowing chickens to live naturally, adhering to Genesis GAP certification which mandates trained operators for any surgical interventions and limits journey times to 8. It has implemented a controlled-atmosphere stunning system and promotes environmental enrichment for chickens through fodder and grass provision. However, while it prohibits genetic engineering, this commitment does not extend to breed selection.
2.4/3
Assurance & Certification
30/100
Auditing & Assurance by an Animal Welfare Organisation
The company is certified for animal welfare practices in accordance with Genesis Good Agricultural Practices (GAP). The company has been certified for animal welfare practices in accordance with Genesis Good Agricultural Practice (GAP).
1.5/4
Public Reporting on Welfare
The company does not disclose information in relation to animal welfare certifications or assurance programs for its beef operations.
0/1
Performance on Key Material Risks
40/100
Performance on Key Material Welfare Risks by Protein
The company commits to a controlled atmosphere stunning and providing enriched environments. It adheres to the Genesis Global Animal Partnership (GAP) standard that dictates stocking density and suitable environments. However, the GAP standard permits stocking densities in broilers greater than 30kg/m².
2/5
Working Conditions
43/100
Human Rights
40/100
Strength of Policy
The company commits in writing to follow the UDHR Guiding principles, UNGP, and ILO guidelines.
1/1
Due Diligence Process
The company mentions a continuous and ongoing human rights due diligence procedure. It also states that it integrates the results within the internal management system and undertakes corrective action if violations are found. However, the company does not discuss in detail what the due diligence process involves or how it would identify the disciplinary action it should take when risks are identified.
1/3
Evidence of Remediation
The company does not discuss whether it found any human rights risks through its due diligence procedure.
0/1
Fair Working Conditions
53/100
Policy for Direct Operations
The company commits in writing to prohibit discrimination and inhumane treatment. The company also requires suppliers to prohibit abuse, discrimination, and child labour. In addition, the company's chicken processing plant has been certified for having Good Labor Practices and is a member of SEDEX. This ensures that the above policies have been audited. However, how much the procedures are audited in the rest of the company's operations needs to be clarified. Furthermore, the company does not disclose a commitment to prohibit child labour or promote freely chosen employment and fair wages. Nor does the company require suppliers to boost fair wages.
1.4/3
Monitoring & Discosure
Although the company clarifies its right to audit suppliers, there must be a conclusive statement that it undertakes such audits.
The company has set up the Corporate Governance Committee for receiving any complaints regarding morality and ethics. It has set up various channels for reporting complaints or providing feedback, including a mechanism for its suppliers. However, it does not mention if complainants have the right to anonymity or if the tools were designed in consultation with stakeholders. In 2022, the company received no complaints regarding human rights violations. It also did not have any complaints concerning fraud or ethical misconduct.
1.25/2
Safety & Turnover Data
56/100
Committee representation of workers
The company has an ISO 45001 certification and an occupational health and safety and working environment policy, committing to maintaining a safe working environment for its employees.
0.45/2
Disclosure of safety and turnover data
The company reports its lost time frequency rate (LTIFR) as 7.93 per 1 million working hours in 2022, improving from the LTIFR of 9.98 recorded in 2021. The company also reports zero fatalities across the last two years.
The company has reported its total turnover rate as 1.87% in 2022. However, the company does not provide a breakdown by seniority level.
2.36/3
Freedom of Association
24/100
Strength of Policies
The company mentions that suppliers shall respect the right of employees to participate in associations and collective negotiations, as required by law. However, the company does not discuss its employees' rights to freedom of association and collective bargaining or disclose unionisation rates.
1/3
Disclosure of Collective Bargaining Metrics
The company gives a breakdown of its workforce by contract type. Its crew consists of 65% permanent workers and 35% temporary workers. However, it does not discuss employees employed full-time or part-time or those paid by the hour. Further, the company does not discuss the percentage of employees covered by collective bargaining agreements or provide a statement supporting collective bargaining.
0.19/2
Food Safety
28/100
Food Safety System
25/100
Certifications
The company discloses that its facilities have BRC certification, a GFSI-recognised certification. However, it does not disclose the number or the percentage of facilities certified. Nor does it confirm whether suppliers are expected to be GFSI certified.
1.25/3.5
Performance
The company states that an audit system is in place at every step of production. However, it does not disclose the number or frequency of audits. Further, no disclosure of the corrective action rate is provided. The company states that its products can be traced back to all stages of production, including the origin of raw materials. However, it is not clear whether this technology is consumer-facing.
0/1.5
Product Recalls & Market Bans
30/100
Product Recall Systems
The company discloses that it has a product recall system in place to protect the safety and confidence of consumers. It also has an efficient traceability system that tracks product status at any point in the food chain. In case of a customer complaint, the company can accurately and timely recall products. It does not provide any further details regarding the recall system, nor does it disclose whether any recalls occurred in the reporting period; however, no incidents were detected on the media screen.
0.5/3
Performance
The company does not disclose information related to market bans, and there were no market bans detected in media screening in the reporting period.
1/2
Sustainability Governance
20/100
Assessment of a Company's Sustainability Governance
20/100
Board Sustainability
The sustainability development strategy and performance of the company are monitored by the Nomination Remuneration and Governance Committee, which reports to the Board of Directors. Therefore, the final oversight of sustainability development lies with the Board. In addition, the company conducts a materiality assessment and discloses the results on a materiality graph. Material issues revealed include issues related to economics and governance, environment, and society, such as water management, human rights and labour treatment, quality and safety of products, animal welfare and anti-corruption. However, board involvement in the materiality assessment should be mentioned. Furthermore, the company's board members must gain expertise in sustainability, food safety or innovation.
0.75/2
Incentives & Policy Engagement
The company has not disclosed executive monetary remunerations linked with climate or sustainability performance. Nor has it announced engaging with civil or trade associations on ESG issues, a comprehensive list of trade association memberships or if it aligns any policy-engagement activities to restrict global temperature rise to 1.5C.
0/2.5
Innovation & Benchmarking
The company discusses its strategic approach to innovation. It states that it continuously conducts research and development for new products, including adopting advanced technologies to expand its business. It has applied innovation and technology in vertical-integrated chicken supply chains, such as process innovation, product innovation, food safety and quality assurance, and innovation to promote sustainable and environmentally friendly chicken processing. The company also has nutritionists to research and develop high-quality feed formulas. However, the company does not disclose how it benchmarks itself against peers in sustainability and innovation.
0.25/0.5
Alternative Proteins
20/100
Diversification of Products to Alternative Protein Sources
20/100
Existing product portfolio
The company acknowledges that the expansion of the substitute meat market is a material business issue and that it is driven by increasing consumer awareness of the environmental impacts and welfare issues linked to animal protein supply chains. However, it does not disclose a timebound target to diversify protein sources.
0.25/2.5
Investing for future growth
As part of its risk management strategy, the company discloses that it is researching and developing plant-based products to meet customers' demand for plant-based and alternative protein products. However, the company does not provide any further information on its approach toward diversifying its product range to include plant-based and alternative proteins.
0.75/2.5
Members-only Content
To register as a member of the FAIRR network, please fill out the sign up form or if you need additional information on the FAIRR network, please contact investoroutreach@fairr.org.
Workstream Information
2023 Risk Score:
18/100
Level:
High Risk
Ranking:
44/60
Main Protein:
Poultry and eggs
Assessed Proteins:
Poultry and eggs
Company Feedback Given:
No
Last Updated:
31 October 2023
2023 Resources
2023/24 Index Report Summary (Mandarin) 报告总结摘要(中文) Launch of the Coller FAIRR Protein Producer Index 2023/24 2023/24 Company Dialogue Questions 2023/24 Full Report Coller FAIRR Protein Producer Index
Coller FAIRR Climate Risk Tool
Analysis Overview
Cost Increase
Cost Increase
EBIT Margin
Cost Increase (%)
60%
40%
20%
0%
-20%
-40%
-60%
Net Zero Aligned
BAU
High Climate Impact
Cost Breakdown
2030 | Net zero aligned | BAU | High climate impacts |
---|---|---|---|
Total Costs | -1% | 3% | 6% |
Carbon Tax | 0% | 0% | 0% |
Feed | -1% | 3% | 5% |
Feed Additives | N/A | N/A | 0% |
Heat Stress | 0% | 0% | 0% |
2050 | Net zero aligned | BAU | High climate impacts |
---|---|---|---|
Total Costs | -1% | 4% | 10% |
Carbon Tax | 0% | 1% | 1% |
Feed | -2% | 3% | 10% |
Feed Additives | N/A | N/A | 0% |
Heat Stress | 0% | 0% | 0% |
Members-only Content
To register as a member of the FAIRR network, please fill out the sign up form or if you need additional information on the FAIRR network, please contact investoroutreach@fairr.org.
Workstream Information
Last Updated:
5 April 2023
2023/24 Resources
Walkthrough Video 2023 Public Report 2023 (English) Public Report 2023 (Mandarin) Coller FAIRR Climate Risk Tool