“ESG Is in Our DNA: Bangchak Remains Committed to Caring for Society While Advancing Sustainable Business Growth” Bangchak Group CEO Highlights ESG as the Core of Business at Krobkruakao 3 Forum 2026

On 12 January 2026, Mr. Chaiwat Kovavisarach, Group Chief Executive Officer and President, Bangchak Corporation Public Company Limited, participated in a panel discussion titled “The Sustainability Imperative: ESG as a Core Business Strategy – Navigating New Global Rules and Green Business Opportunities” at the Channel 3 Forum 2026, or Krobkruakao 3 Forum 2026: Global Dynamics and Thailand’s Future. The session was joined by Mr. Pirun Saiyasitpanich, Director-General, Department of Climate Change and Environment, and Mr. Narin Phaowanich, Governor, the Electricity Generating Authority of Thailand. The discussion was moderated by Mr. Kitti Singhapat and organized by Thai Television Channel 3 at Queen Sirikit National Convention Center.

Mr. Chaiwat shared Bangchak’s long-standing business philosophy of placing ESG at the core of its operations. Rather than viewing ESG as a standalone social initiative, Bangchak has integrated ESG principles into its business decision-making from the outset, to enhance long-term competitiveness and sustainability while delivering returns to shareholders. One example cited was the agricultural cooperative service stations, or community-based fuel stations, established more than 30 years ago to address issues of high fuel prices and poor fuel quality faced by farmers. These stations also generate income for cooperative members and are recognized as among Thailand’s earliest community enterprises that continue to grow to this day. He noted that while CSR in the past focused on sharing profits once they were earned, Bangchak views ESG as the integration of sustainability into the very fabric of the business itself.

He also reflected on Bangchak’s forward-looking and comprehensive approach to the energy transition. He recalled that around a decade ago, as the world began shifting from oil to electricity, Bangchak identified batteries as the core of the new energy system and lithium as a strategic raw material. This led the company to invest and build expertise at an early stage, while continuing to expand its clean energy portfolio, starting with solar and wind power. In today’s digital economy, however, driven by data centers and new economic infrastructure, he emphasized the need for energy sources capable of delivering stable, round-the-clock electricity. This has prompted Bangchak to look beyond conventional renewables toward base-load solutions such as geothermal energy, in order to overcome existing energy limitations and ensure long-term energy security and sustainability.

In terms of carbon market mechanisms, Bangchak initiated the establishment of the Carbon Markets Club to support the management and trading of carbon credits in Thailand, in preparation for international environmental measures such as the Carbon Border Adjustment Mechanism (CBAM). The Club serves as a platform for knowledge-sharing, collaboration, and the development of a carbon ecosystem for Thai businesses, using carbon markets as an economic tool to support the journey toward Net Zero. It currently comprises more than 1,700 organizational and individual members and has expanded its cooperation to the regional level through the ASEAN Common Carbon Framework (ACCF), aimed at strengthening ASEAN’s collective power on the global stage.

While addressing governance, Mr. Chaiwat emphasized Bangchak’s clear, transparent, and accountable corporate governance structure. The company has major shareholders holding more than 10% of its shares, but has no controlling shareholder, as no single shareholder holds more than 25% of the voting rights. Bangchak has upheld principles of checks and balances and considered the interests of all business stakeholders for over 40 years. He concluded by reaffirming that “ESG is embedded in the company’s DNA, with transparency, accountability, and stakeholder inclusiveness serving as the strongest safeguard against long-term business risks. “Please be assured that Bangchak remains Bangchak, a company committed to caring for society while delivering returns to shareholders through its business.”