Stakeholder Engagement and Materiality Assessment
BCPG operates its business in the interest of its stakeholders, which can be divided into nine groups, namely, employees, customers, suppliers & contractor, shareholder & investor, business partner, community, financial institution, regulator & government and press & media, by taking every concerned parties into consideration.
In addition, a communication process has been established so as to understand expectations and concerns of the stakeholders and apply the learnings for improving the business operation guidelines to ensure sustainable development and growth.
Employee
Issues of Interests Expectations
- Fostering business growth while upholding environmental and social responsibility.
- Upholding human rights and labor standards, including occupational health and safety.
- Cultivating a positive working environment to promote job satisfaction.
- Investing in skill development opportunities.
- Providing clear career advancement paths and ensuring stability.
- Offering fair compensation, benefits, and perks.
Actions & Responses
- Keep employees informed about current business achievements and success.
- Promote awareness through the Circular Economy Thinker Project, Year 2, aiming to combat global warming using the 3Rs principle (Reduce, Reuse, Recycle).
- Adhere to Thai Labor Standards and uphold principles of human rights by establishing a labor union to safeguard employee interests.
- Establish an occupational safety and health committee to oversee environmental impacts within the organization, aiming to prevent and minimize workplace accidents and uphold a zero-accident policy.
- Organize training sessions for employees at all levels based on Individual Development Plans to foster a skilled and diverse workforce.
- Offer fair and competitive compensation and benefits to employees, benchmarked against companies in the same industry.
- Develop and train each employee’s career skills.
Customer
Issues of Interests Expectations
- Ethical Business Practices and Compliance
- Business Expansion
- Cybersecurity Measures
- Capitalizing on Climate Change and Environmental Opportunities
- Innovation Management, with a Focus on Energy Innovation
- Workplace Safety
- Data Accessibility and Responsiveness to Customer Inquiries, with a Focus on Information Accuracy
Actions & Responses
- Ensure compliance with applicable laws and regulations governing business operations, coupled with diligent monitoring and inspection of business lines across the Company.
- Implement Data Protection Laws in accordance with the Personal Data Protection Act, B.E. 2562 (A.D. 2019), and maintain data integrity by continuously adhering to ISO 27001 (Information Security Management System) standards.
- Conduct information security training for employees and establish open reporting channels for employees to flag suspicious emails.
- Track electrical energy consumption through internal energy monitoring and management protocols.
- Uphold Occupational Safety and Health Standards in line with ISO 45001 guidelines.
- Collaborate in promptly addressing inquiries and providing accurate information within specified timeframes.
Supplier & Contractor
Issues of Interests Expectations
- Business ethics and transparency
- Business growth
- Human rights and labor
- Environmental awareness
Actions & Responses
- Institute business ethics standards for its business partners and communicate them along with the assessment of Environmental, Social, and Governance (ESG) issues.
- Uphold transparent and trustworthy relationships with its trading partners throughout the procurement processes. Ensure transparency, checkability, swift response, and promotion of human rights and labor rights.
- Implement and enforce a sustainable supply chain to mitigate risks and foster mutual growth with partners. This includes registering sellers in the Approved Vendor List (AVL), conducting partner risk assessments, and evaluating partner performance.
- Collaborate on joint projects and foster potential through training programs.
- Establish fair payment terms for its trading partners.
Shareholder & Investor
Issues of Interests Expectations
- Business Ethics and Transparency
- Business Growth (e.g., Direction, Project Progress)
- Business Performance (e.g., Shareholder Returns)
- Compliance with Securities Market Regulations and Disclosure Standards
- Environmental and Social Responsibility in Business Operations
- Energy Innovations
- Advancement in Energy Innovation and Technology
- Ongoing Investment in Clean Energy Ventures
Actions & Responses
- Adherence to business ethics, laws, and regulations relevant to business operations with stringency
- Accurate disclosure of information with transparency within defined timeframes, providing easily understandable and accessible information on the Company’s website, including factsheets/company profiles and performance results
- Coordination of investor relations to liaise with investors and shareholders, ensuring cooperation in responding to inquiries with accurate and timely information
- Openness to feedback and questions received from investors towards management
- Distribution of dividends to shareholders in accordance with performance results and company policies
- Pursuit of investment opportunities in suitable clean energy businesses
- Collaborative Investment with Partners in Clean Energy Ventures
Business Partner
Issues of Interests Expectations
- Uphold high standards of business ethics and transparency.
- Drive business growth with a focus on Renewable Energy initiatives.
- Ensure efficient and sustainable business operations, with a strong emphasis on environmental, social, and safety management.
Actions & Responses
- Adhere rigorously to business ethics, laws, and regulations governing business operations.
- Advocate for and actively support government energy policies and practices.
- Collaborate in business development endeavors, such as expanding into energy storage markets in promising areas.
- Foster partnerships in innovation development to enhance operational efficiency, including the advancement of energy storage battery technology.
- Share insights on clean energy technology.
Community
Issues of Interests Expectations
- Assess and mitigate business impacts on local communities and the environment.
- Demonstrate the Company’s dedication to employing local residents.
- Actively engage with local communities, providing support and participating in community activities.
- Adhere to social and environmental regulations.
Actions & Responses
- Ensure strict compliance with environmental and safety laws and regulations governing the Company’s operations.
- Recruit and hire local residents from areas surrounding the power plants to operate the Group’s businesses.
- Provide support for community activities through both financial contributions and other forms of assistance, such as organizing regular sports and educational events. Additionally, offer educational programs to youth about clean energy.
- Utilize resources to generate benefits for the local community, such as installing solar power generation systems on hospital rooftops in the operational area.
- Actively involve in community events that celebrate local traditions and cultural heritage.
Financial Institution
Issues of Interests Expectations
- Uphold business ethics and transparency.
- Ensure full legal compliance, encompassing environmental management, safety protocols in business operations, and adherence to loan agreements.
- Demonstrate genuine concern for society and actively engage stakeholders.
- Implement robust risk management strategies.
- Collaborate in business expansion and mutual growth as per the established agreement.
Actions & Responses
- Adhere strictly to the terms of loan contracts and other specific conditions.
- Ensure rigorous compliance with the rules and regulations set forth by government financial institutions.
- Collaborate fully in responding to inquiries, providing accurate information promptly and in accordance with established timelines.
Regulator & Government
Issues of Interests Expectations
- Ensuring compliance with pertinent laws and regulations.
- Upholding business ethics and fostering transparency.
- Incorporating environmental and social considerations into business operations.
- Leveraging government energy support and disseminating accurate information.
Actions & Responses
- Ensure rigorous adherence to business ethics, laws, and regulations governing business operations.
- Provide timely and accurate responses, clarifying information within specified timeframes.
- Execute business activities cautiously, aiming to mitigate potential environmental and social impacts. This includes upholding environmental management standards compliant with ISO 14001 and maintaining safety protocols in line with ISO 45001.
- Vigilantly monitor and inspect business line operations within the Company.
- Collaborate with and support governmental initiatives to advance environmental and social practices. This may involve engaging experts to exchange knowledge and enhance energy policies.
Press & Media
Issues of Interests Expectations
- Ensure transparent disclosure of information regarding business direction, expansion plans, progress updates, and environmental and social concerns.
- Establish communication channels that are easily accessible, convenient, and fast, providing timely responses to stakeholders.
Actions & Responses
- Utilize the organization’s communication channels to promptly disclose the latest information.
- Task the corporate communications department with coordinating communications between the organization and the media.
- Ensure timely and accurate responses to inquiries within the specified time frame.
Stakeholder Engagement Process
Identify key sustainability issues
Consider sustainability issues in accordance with relevant standards related to sustainability in the context of industry risks and opportunities, while also considering the expectations of stakeholders throughout the supply chain, in order to align with and comprehensively address sustainability concerns.
Evaluate and prioritize important sustainability issues
Utilize the Double Materiality assessment framework to evaluate and prioritize significance. This entails conducting practical operational meetings where relevant management engages with stakeholders in each departmental session to gather insights and rank the organization’s critical issues. Following feedback from stakeholders, refine strategic sustainability goals and organizational objectives accordingly.
Audit and endorse key sustainability issues
Thoroughly review and validate the outcomes of the assessment of key issues before presenting them to the management committee for endorsement. Additionally, carefully consider stakeholders’ expectations and apprehensions to ensure the Company grasps and effectively responds to each concern.
Disclose information on key sustainability issues
Deliver comprehensive management guidelines and progress reports outlining the handling and outcomes of key issues.
Materiality Matrix
Key Sustainability Issues
Environment
- 1 Product and Service Responsibility
- 2 Energy Transition
- 3 Adaptation and Mitigation of Climate Change
Social
- 4 Community and Social Development Participation
- 5 Preservation and Development of Human Capital Potential์
- 6 Safety, Occupational Health, and Environmental Well-being in the Workplace
Economic
- 7 Risk and Opportunity Management Relevant to Sustainability in Business
- 8 Corporate Governance for Sustainable Business
- 9 Anti-corruption Efforts
- 10 Low-carbon Economy
- 11 Social and Environmental Management Innovations
Other Sustainability Issues
Environment
- 12 Sustainable Resource Utilization
- 13 Air Quality and Pollution Management
- 14 Environmental System Protection and Biodiversity
- 15 Water Resource Management
- 16 Circular Economy
Social
- 17 Labor Practices and Human Rights
- 18 Cultivating Inclusive and Unbiased Work Culture
- 19 Data Privacy Protection
Economic
- 20 Sustainable Business Management Standardization
- 21 Responsible Procurement and Contracting
- 22 Sustainable Value Chain Management
- 23 Cybersecurity Maintenance
- 24 Prevention of Bribery and Unfair Trade
Stakeholder Engagement
BCPG Group recognizes the importance of stakeholders in all aspects of the value chain as a key driving force in building a sustainable business through implementation of activities, good relationship with stakeholders and stakeholder engagement.