Bangchak committed to accelerating sustainable energy transition, while balancing energy security. We are energizing lives through greenovative solutions and promoting ESG for all to the vision, “Crafting a Sustainable World Evolving Greenovation.” Therefore, a crucial area that the business has continuously improved for effectiveness is working to satisfy the needs and expectations of stakeholders. In order to prevent or mitigate sustainability impacts on stakeholders and promote a balance between value and worth from business operations, the company uses these data to support strategic planning. It also aims to increase stakeholder trust in its collective efforts. The company's stakeholders are classified into 10 categories, including employees, suppliers and contractors, customers, service station operators (dealers, BGN, agricultural cooperatives), business competitors, creditors, shareholders, Bangchak’s neighbors, the mass media, and government agencies.
Processes for Stakeholder Engagement
Identifies stakeholders and ranks them by considering 3 criteria as follows:
- Stakeholders’ involvement in business operations.
- Whether or not the company can impact stakeholders in the sustainability issues.
- Whether the stakeholders have the influence to impact the company’s sustainability issues.
Approach to Stakeholder Engagements are involved as follows:
- Specify the divisions that take responsibility for stakeholders.
- Determine methods for surveying the needs and expectations of stakeholders systematically and frequency operation.
- Gather information on the needs and expectations of stakeholders.
Specification of Materiality issues:
- Identify the causes and actual and potential impacts, both positive and negative, in relation to sustainability issues (economy, environment, and society, including human rights issues), and rank importance based on severity and likelihood of occurrence.
Implementation
- Propose the analysis results to the Sustainability Policy Committee (SPC) and the Sustainability and Corporate Governance Committee (SCGC) to determine the direction of sustainability operations and formulate organizational strategies and work plans to prevent and minimize the impact on the sustainability of stakeholders in each different group.
List of materiality topics
Economic (7 Topics)
- Sustainability Innovation and Investment
- Quality of Products and Services
- Corporate Governance and Ethics
- Sustainable Supply Chain
- Digital Transformation and Cybersecurity
- Customer Relationship
- Anti-Competitive Behaviors
Environmental (6 Topics)
- Climate Change and Greenhouse Gas Emissions
- Air Emissions
- Oil Spill Management
- Water and Wastewater Management
- Waste Management
- Biodiversity
Social (6 Topics)
- Occupational Health and Safety
- Energy Accessibility
- Community Development and Employment
- Human Resource Management
- Human Rights, Labor Rights, and Labor Practices
- Land and Resource Rights