The Company is committed to meeting the needs and expectations of all its stakeholders, including the sustainable development goals (SDGs). It also applies the criteria for assessing its sustainability performance with national and global standards, covering governance, environmental, and social aspects to reduce risks and business impacts, and to explore opportunities for continuous improvement in work processes and operate the business with sustainability compliance with global sustainability standards in order to improve the adaptability of the Company to global changes and emerging issues.
The Sustainability and Corporate Governance Committee (SCGC), working alongside the Enterprise-wide Risk Management Committee, oversees, reviews practices, and formulates policies regarding sustainability and corporate governance.
The Company conducts its sustainability operations through supervision from the Sustainability Policy Committee (SPC), chaired by the Group’s CEO and president with business group executives and functional group managers acting as committee members. (Disclosure 2-9, 2-13)
The SPC defines the goals, directions, policies, and strategies for the Company and its subsidiaries’ sustainability direction by aligning them with the SDGs, organizational sustainability assessments, and stakeholder expectations. It holds regular at least biannual meetings to ensure collaboration and communication.
The sustainability policies and goals established by SPC are implemented by various departments and committees related to corporate sustainability. The Sustainability Management Committee (SMC) oversees this process by monitoring, collecting, and evaluating the progress and performance of each unit and reporting the results to the SPC at least on a biannual basis. The SPC will then communicate the sustainability performance to the Risk Management Subcommittee, the Enterprise-wide Risk Management Committee, and the Sustainability and Corporate Governance Committee on a biannual basis, respectively.
The SMC consists of executives from Bangchak Group. In 2023, the focus is on developing a strategy to address climate change within the BCP316NET framework, aiming for the Net Zero GHG Emissions target by 2050.
