Strategy for Sustainability
Adhering to the vision that "To be an energetic Asian energy provider of quality products and services", the Company has run the business with good corporate governance principles and management approach to balance sustainable growth of economic, society and environment. Therefore, the national and international guidelines such as Millennium Development Goals (MDGs) and Sustainable Development Goals (SDGs) were integrated into corporate sustainable development strategies. Furthermore, UN Guiding Principle on Business & Human Rights and Universal Declaration of Human Rights were also embedded into our Human Resources Policy and Human Rights Policy.
For Banpu, sustainability does not mean that we can sustain only as an entity. Rather, it means our sustainability, which is a fruition of our performances, personnel and corporate culture, will also bring growth to the society, environment and all stakeholders. To be an energetic Asia energy provider as we envision, proactive actions, leadership in quality performances, possessing internationally recognised operation plans and embracing agility are fundamentals that will lead us onto a path of sustainable growth.
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For Banpu, sustainability means long-term existence, and is the combined result of our business performance, our people and our corporate culture. It is our ambition not just to exist in the long run but to bring sustainable growth and development to society, to the environment and to our stakeholders. We aim to become the dynamic regional energy provider. Proactivity, flexibility, excellence in quality as well as internationally accepted frameworks, are fundamental to our sustainable growth.
Since 2013, Banpu has incorporated sustainable development as part of our long-term strategic plan to ensure that our business takes the interest of all stakeholders’ groups into consideration. In addition, the issue of sustainable development is one of the annual Key Performance Indicators (KPI) assigned for CEO and senior executives.
Sustainable Development Committee
To ensure the substance and continuous development of sustainability, Banpu has formed Sustainable Development Committee. Chaired by the Chief Executive Officer, the Committee consists of senior executives, and heads of business units in the countries the Company has invested. The Committee performs following roles and functions;
- To determine the Company’s sustainable development policy as well as other policies and management frameworks that are acceptable to the community and society in order to strengthen the competitiveness of the Company
- To track the performance of business units within Banpu group in the areas of occupational health, environment, safety, economy and society which can influence the decision making that may affect various stakeholders, thus, their trust in the Company
- To track the performance of other operations within Banpu group and ensure compliances with sustainable development policy
The SD Committee gives priority to leadership and corporate governance, compliance, strategic planning, customers, human resources, finance, operational excellence, environment, occupational health and safety, community and government relations. The committee convenes four times a year.
Human Rights Policy
We respect on human rights as integral part of our sustainability. In line with the Universal Declaration of Human Rights (UDHR) and the UN Guiding Principles on Business and Human Rights (UNGPs), we avoid causing or contributing to any negative impacts on human rights through our activities and seek to prevent and mitigate such impacts. Our respect implements through the corporate share value.
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Tax Management Approach
We recognize that one of the critical agenda to be a good corporate citizen is to demonstrate the significant contribution to the host country where we operate. Therefore, as part of our corporate commitment to sustainability, we are committed to providing transparency about tax payments made to the host governments and ensure that all transactions within Banpu group are based on transparency and fairness, for sustainable growth of every countries that we conduct our business and all related stakeholders.
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Corporate Philanthropy Policy
Banpu believes in the norm that “An industry will be strong only when it is developed in tandem with social and environmental responsibility”. The Company, therefore, aims to support the activities, projects or initiatives that help to improve the quality of community life and create benefit for society related with our business operations as well as other activities that are not related directly to our operations. The Company commits to support the activities, projects or initiatives under Philanthropy Policy covering seven areas namely education, health, economic development, arts and culture, social welfare, and emergency relief.
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Sustainable Supply Chain Management
We place importance on supplier management to operate the business with good governance and take into account the social and environment responsibilities. This does not only reduce the risk of business interruption but also enhances the efficiency of business operations of both the Company and our suppliers for a sustainable growth. For this reason, Sustainable Supply Chain Policy was announced to be used as a framework for supplier management. We commit to creating long-term sustainable value to all stakeholders, with emphasis on care for environment and society. To achieve our missions, we reinforce sustainability across the supply chain as follows:
- Integrate environmental, social and governance (ESG) objectives into our supply chain strategy and other supply chain related policies to leverage opportunities and mitigate risks arising throughout our supply chain;
- Conduct Supplier ESG Due Diligence to ensure that sustainability risks in the supply chain are identified and properly managed;
- Conduct procurement transparently in accordance with Banpu’s Code of Conduct;
- Engage with supplier who conduct business adhering to ethical, social and environmental responsibility, with the respect for human rights, and being aligned with our Supplier Code of Conduct and other related policies;
- Ensure that our suppliers are complied with all local regulatory requirements as well as international labor standards (where applicable);
- Support local procurement in every country where we operate;
- Encourage our suppliers to extend our sustainability practices across their supply chain through continuous improvement and process innovation; and
- Publicly disclose sustainability performance of our supply chain on a regular basis to related stakeholders.
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- Business Ethics
- Labor and Human Rights
- Occupational Health and Safety
- Community and Society
- Business Continuity
- Supply Chain Collaboration
Download Supplier Code of Conduct