Bangchak granted global Top 3 S&P Global Sustainability Award 2022 – Silver Class in the Oil & Gas Refining and Marketing Industry

Bangchak Corporation Public Company Limited has been granted the S&P Global Sustainability Award 2022 – Silver Class ranked in the Top 3 in the Oil & Gas Refining and Marketing industry globally, and selected for the internationally acclaimed Sustainability Yearbook 2022, reflecting its capacity to create sustainable returns for investors, and long-term value for all stakeholders.

Chaiwat Kovavisarach, President and Group Chief Executive Officer, Bangchak Group, revealed that Bangchak has been granted the S&P Global Sustainability Award 2022 – Silver Class from the announcement of the Environmental, Social, Governance & Economic (ESG) assessment scores by S&P Global, an organization specializing in sustainable investments and the assessor of the Dow Jones Sustainability Indices (DJSI), placing the company among the Top 3 companies globally from a total of 56 leading companies in the Oil & Gas Refining and Marketing Industry, and selected for the Sustainability Yearbook 2022, marked higher that its previous Bronze Class and 4th ranked in 2021.

“Bangchak participated in S&P Global’s assessment of its performance and sustainable development for the eighth consecutive year, which in this year we have received the highest ranking and score since our participation. This is great source of pride for everyone in the Company, which our business has been recognized as an international leader in sustainability and we are determined to continue to deliver greenovative innovation for sustainability as the Leader in Energy Transition.”

The assessment reflects the performance and sustainable develop of Bangchak which balances 3 dimensions including the environment, society, governance and economic under the principles of good corporate governance, addressing and strengthening stakeholder confidence through transparency and ethics, which have been the cornerstone of its business practices for more than 37 years, and has now been recognized globally, reaffirming stakeholder confidence in Bangchak in all dimensions.

Environmentally, the Company is committed to reducing the effects of global warming, being founding member of the Carbon Markets Clubs, targeting carbon neutrality by 2030 and Net Zero GHG Emissions by 2050, prioritizing responsible use of natural resources in business operations, ensuring continuous development aligned with the criteria for the Green Industry Level 5 : Green Network, and promoting environmental management practices among stakeholder through the value chain, communities, and consumers for the creation of a Green Network. Most recently on 27 January 2022, the Company sent the skimmer “Sritararak 8”, stationed at Bangchak pier, along with officers and equipment to the Marine Department to assist in the cleanup of the oil leakage near Map Ta Phut, which was successfully concluded on 31 January 2022.

Socially, Bangchak is committed to community engagement, including Bangchak refinery communities, and communities throughout the country. During the COVID-19 crisis the last two years, it has organized various public health initiatives to support public and private organizations and people, and support the economic recovery of surrounding communities around the country.

In terms of corporate governance and economy, the Company is committed to operate its business based principles of corporate governance that are credible and transparent, and follow ethical business practices, and operate business according the BCG model (Bio-Circular-Green Economy) aligned with the Sufficiency Economy Philosophy and the national economic and social development.

The S&P Global Sustainability Awards and the Sustainability Yearbook is the culmination of the assessment of 7,544 companies around the world, of which only 716 companies from 61 industries are selected for each edition. The assessments are ranked by percentile, with the top 15% of each industry selected for the Yearbook.