Bangchak is committed to responding to the needs and expectations of all stakeholders and sustainable Development goals (SDGs). The Company also considers corporate sustainability assessments at national and international levels, which include sustainability topics in the areas of corporate governance and economic dimension, environmental dimension, and social dimension, to mitigate risks and their impacts on business and to seek opportunities for improvement of business operations in all aspects of sustainability in accordance with targets and guidelines of international standards of sustainable development. As a result, the company is able to conduct proactive business operations and cope with global changes and emerging risks. The company operates in the aspect of sustainability through the Sustainability Policy Committee (SPC), chaired by Bangchak Group’s chief executive officer and president with the executives of business groups and functions working as the committee members. The Sustainability Policy Committee sets goals, directions, policies and strategies for sustainability development in Bangchak Group by considering SDGs, key materiality topics from corporate sustainability assessments, and the needs and expectations of stakeholders. Accordingly, the committee consequently meets 3 times annually. The Sustainability Management Committee (SMC) acts as a main coordinator to monitor, collect, evaluate and report on progress and performance outcomes to the Sustainability Policy Committee 3 times a year. The Sustainability Policy Committee will report sustainability performance to the Risk Management sub-committee, Enterprise-wide Risk Management Committee and the Sustainability and Corporate Governance Committee twice a year, respectively. The Sustainability Policy Committee consists of executives of the Bangchak Group, which in 2022 focused on creating climate change strategies under the BCP316NET framework in order to achieve Net Zero GHG emissions by 2050.
