Bangchak is committed to developing sustainable business innovation in harmony with the environment and society through the 3S (Security, Stability & Sustainability) corporate strategy.
The company has also adopted the Sufficiency Economy Philosophy into business operations to create the balance between “profits” and “values” while operating business for the benefit of environment and society. The 3S strategy is in line with the “Evolving Greenovation” vision aiming to create green innovation for society in accordance with the concept of “Greenovate Our Tomorrow”. The company and its subsidiaries have adopted the 3S strategy to create security, stability, and sustainability for their companies and to respond to global changes, sustainability trends and directions, including needs and expectations of all stakeholder groups.
Building Energy Security for the Country
Focusing on the building of energy security for the country through the joint operation of business strategy consisting of refinery and trading business, marketing business, natural resource business and bio-based product business in procuring, producing and distributing oil together with biofuels to meet the demands of the business and people. Despite the introduction and the market growth of the electric vehicles (EV cars), the fossil fuel businesses are necessary for the national energy demands and they are growing continuously.
Managing Portfolio to Grow and Spread Risks to Business with Consistent Returns
Focusing on the investment in businesses with consistent incomes and returns with low risks from external factors, both in Thailand and overseas, such as the green power businesses which have stable income through the management of production chain in other businesses to cope with business fluctuations.
Developing Business and Extending Core Businesses to Grow and Be Sustainable
This strategy is relating to business development of extended businesses that supports or create new opportunity for core businesses to grow in a sustainable way and to get ready for disruptive technology, emerging risks and changes in the future, such as the lithium battery business to prepare for the growth of EV cars or the development of high value bio-based products, including bio-plastics and bio-materials. The company also embraces innovation that is contributing to environment and society from Bangchak Initiative and Innovation Center (BiiC), an institute seeking for an investment with the startup as well as cooperation with external parties on R&D activities, to find an opportunity to continuously expand green energy businesses and bio-based businesses domestically and internationally. However, the company still employs the 4 Green sustainability strategy as the framework for business operations and investments for corporate sustainability.
The 4 Green Strategy
Focusing on the investment in new business, extension of the existing energy business in and innovations that are environmentally friendly in order to add more profits and values to the business in a sustainable way. This is not only to increase proportion of revenue from new business, but also good for the environment as it brings about various kinds of green initiatives to develop business operations. Samples of these initiatives are such as the high value biological products made from agricultural products based on bio-technology innovations extended from the original bio-fuel business, i.e. bio-plastic, bio food, bio cosmetic ingredient. Moreover, the company places importance to green energy business and energy management through the Institute of Innovation and Business Incubation (BiiC), as a way leading to the emerging of startup business that can be developed further for the company's business.
Emphasizing the improvement of production process and operations that are environmentally friendly and the enhancement of safety operation by using resources efficiently, especially water and energy resources. Having in place, the environment and energy management systems in compliance with ISO 14001 and ISO 50001, respectively, including the occupational health and safety management system (ISO 45001) as well as the Process Safety Management (PSM) to raise the level of safety management.
Focusing on the creation of new experience and new green innovation to support the modern lifestyle of Thai people in which everyone can live a sustainable life the environment and society, including:
- Greenovative Product emphasizing the product quality development to and environmentally friendly products. At present, the company is producing and distributing quality oil that meets Euro 4 standards, including 2 types of oils according to Euro 5 standards: Gasohol E20 S and Hi-Premium Diesel S (Premium Grade Diesel), designed to suit the new engines and help reduce dust from combustion. In addition, the company has developed and distributed a special grade diesel, namely Hi-Diesel B20 S for distribution to transporting truck customers and Hi-Diesel S B10 diesel fuel that is good for the environment and supports palm oil growers. For the non-oil business. Bangchak is the leader in using 100% bio-degradable. Inthanin coffee cup and the strawless lid can reduce the use of plastic straw and these two items are currently the standard practice for Inthanin coffee shops in all branches. Greenovative Service Station has developed a new architecture for service stations with unique and outstanding designs through the 4Rs process, namely renewable, recycle, reuse and reduce, Some of the examples are installing Solar Roof Top in Bangchak Srinakarin service station to produce solar cell power, bidding for a purchase of power with blockchain technology which is a green community energy management system (GEMS), the expansion of the EV Charger branch, saving water by using rain and used water to water plants, the use of energy-saving equipment, increasing shady green spaces and installing amenities, such as bathroom designs that respond to the elderly and disabled society, installing the automatic air inflator to has developed a new architecture for service stations with unique and outstanding designs through the stepping towards “The Most Admired Brand”.
- Greenovative Mind is all about the application of technology and IT system to process customer data for the improvement of service works and service delivery to be fast and efficient, the development of member database system, the installation of Point of Sale Automation in service stations in addition to the development of application systems to facilitate various groups of users, i. e. the installation of application BCP Link and the Auto Ordering System: AOS for the group of dealers, the installation of mobile application for the group of general customers and the development of Mobile Application System to support basic operations in response to customer needs and to increase the use of benefits from BCP GreenMiles card.
- Greenovative Communities is an idea to create an experience that allows customers to be a part of helping society, environment and maintaining good culture, such as giving oversupply agricultural products to service users or distributing products that are environmentally friendly, hiring the disabled, developing the "BCP Road-Side Assistant" project to provide basic assistance for motorists who need help at Bangchak service stations, such as battery towing, changing spare tires. Another kind of good experience is to develop the project on a plot of organic vegetable at the service stations to improve the quality of life for service staff. In addition, the surplus products can be given to customers.
Green Society is one of the key strategies that the company continuously performed with environmental care participation in improving the quality of lives and well-being of Thai society through projects that promote better society as a whole by introducing the late King’s Sufficiency Economy Philosophy and innovation aiming to expand operations and results to various groups of stakeholders in society. It also expects to create changes and help develop the country in various dimensions in response to the United Nations Sustainable Development Goals (SDGs). Including into it, is the communication on "Sustainable Happiness" that the organization can share with stakeholders in the society through various kinds of projects, either the CSR in Process, or CSR after Process or CSR as Process, under the operation of Bai Mai Pan Suk Foundation.