CPF to invest 101.3 million on green conversion
Charoen Pokphand Foods Plc (CPF), has announced that it will be spending a total of 4 billion baht (€101.3 million) to turn all of its 323 operations green within the next 3-5 years.
The move is partly addressed to rising demand by consumers for better food safety and the alleviation of environmental concerns and it is also to comply with global requirements especially in the EU, which is expected to enforce carbon labelling and footprint requirements in the coming years.
Adirek Sripratak, CPF president and CEO, says 122 units of 37.8% now use green energy, such as cogeneration orbiomass or make products that have a low carbon footprint.
CPF has spent 3 billion baht in the first phase begun a few years ago and will need another billion to make the other 201 subsidiaries compliant for which he says, CPF's 282 farms, 17 feedmills and 24 food production units will follow CP's green practices in the next 3-5 years.
To date, more than 100 individual CPF products have received the carbon footprint label.
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