Sustainable Development Framework
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The Company has set a framework to drive its operations and growth by using the sustainable development principles, taking into account the stakeholders and all aspects of changes. Additionally, the short–and long-term strategies have been developed including an assessment of the sustainable development performance by determining key indicators covering economic, social, and environmental dimensions. For the sake of sustainable company in a long run, all executives and employees are assigned to mutually drive these strategies to the success.
Sustainable Development Committee Structure
In 2018, the Company set up the Sustainable Development Committee to govern and oversee the corporate sustainability. The Sustainable Development Committee consists of top management from each department/ business unit with following responsibilities:
- Review ‘Banpu Power’s Sustainable Development’ policy, related policies, and corresponding governance and management systems to ensure license-to-operate and strengthen company’s competitive position,
- Review the performance of Banpu Power Group in regards to the health, safety, environment, economic, and social consequences of decisions and actions on stakeholders and on the reputation of the company,
- Encourage all functions in Banpu Power Group to develop policies, guidelines and practices congruent with Banpu Power’s Sustainable Development policy.
The policies and operating results must be considered and received feedbacks from the Board of Directors prior to implementing/practicing. Additionally, all employees and executives have a duty to achieve the corporate sustainability through performing their duties, creating a corporate culture including communicating the sustainability policies and operations to the joint venture companies, business alliances, trading partners, contractors, sub-contractors, customers and communities.
To operate the sustainability governance effectively, the policy must be developed with good strategies while the appropriate key performance indicators (KPI) must be set up by management, drawing employee participation to turn these policies and strategies into the tangible practices.
1) The Board of Directors Performance Appraisal
The Company has determined to evaluate the Board of Directors performance once a year at three levels as follows:
- The individual performance appraisal
- The whole Board’s performance review
- The sub-committees’ performance evaluation
2) The performance appraisal of executive and senior executives is conducted twice a year based on the long-term target and the single year target.
3) The employee’s performance review has been conducted twice a year via the Key Performance Indicators (KPI) in two aspects – operating performance and behaviors relating to corporate culture promotions.
4) The Company together with Banpu Group have analyzed the performance in comparison with the best practices or standards of the industry group (Gap Analysis) for example, an analysis for better improvement.