Stakeholder Engagement and Materiality Assessment
BCPG recognizes the importance of stakeholders across all aspects of the value chain, as they are the main driving force behind creating a sustainable business through various activities. This includes building good relationships with stakeholders, engaging them, and conducting surveys to gather stakeholder opinions on sustainability, both internally and externally. This is done to ensure that all concerns and interests of stakeholders are considered by BCPG.
BCPG adheres to the principles of stakeholder engagement according to the AA1000 Stakeholder Engagement Standard. The Company has identified a total of 9 stakeholder groups, including: investors and shareholders, customers, employees, government agencies, suppliers, business partners, communities, financial institutions, and the media.
- Business growth with environmental and social responsibility
- Human rights and labor, including hygiene and safety
- Work environment and work-life balance
- Skill development
- Career advancement and job security
- Fair compensation, welfare, and benefits
- Communicate with employees about the Company's current business achievements
- Raise awareness of climate change solutions by promoting efficient resource utilization based on the 3Rs principle through the Circular Economy Thinkers project
- Comply with the Thai Labor Standard and treat employees appropriately according to human rights and labor principles, such as establishing labor unions to protect employee interests
- Establish a Safety and Occupational Health Committee to manage risk areas and mitigate environmental impacts within the organization through employee participation activities, such as The Magical Waste and 5S
- Develop Individual Development Plans (IDPs) to enhance employees' diverse skill sets
- Provide fair and competitive compensation and benefits comparable to industry standards
- Maintain long-term relationships with employees and ensure job stability
- Provide a safe working environment with no workplace accidents or injuries
- Raise awareness of environmental management and sustainability
- Foster job security and career advancement
- Annual employee satisfaction and feedback surveys
- Internal communication via email, intranet, and mobile application
- Meetings with management
- Quarterly “Talk with You” meetings
- Establishment and meetings of the Welfare Committee
- Monthly Knowledge Management Sharing sessions on business topics
- Internal employee training programs
- Reporting via Form 1-56 One Report and BCPG’s website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Business ethics and regulatory compliance
- Business operations
- Cybersecurity
- Opportunities from climate change and environmental concerns
- Energy innovation
- Data availability, responsiveness to customer inquiries, and data accuracy
- Comply with relevant laws and regulations
- Disclose accurate and transparent information within the specified timeframe
- Implement data protection laws in accordance with the Personal Data Protection Act B.E. 2562, with designated data controllers and compliance with the ISO 27001 Information Security Management System
- Manage cybersecurity and emphasize data protection for employees and stakeholders, such as training employees on software and system usage
- Monitor electricity consumption within the organization to maintain overall energy management balance
- Manage energy usage to reduce greenhouse gas emissions
- Comply with ISO 45001 standards
- Cooperate in responding to inquiries and submitting accurate information within the specified timeframe
- Supply electricity at full efficiency according to the power purchase agreement
- Deliver high-quality products and services with prompt issue resolution in case of emergencies
- Ensure customer satisfaction and build trust in the organization
- Maintain cybersecurity in operations
- Annual customer asset audits
- Annual customer satisfaction surveys
- Formal written agreements
- Reporting via Form 1-56 One Report and BCPG’s website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Business ethics and transparency
- Business growth
- Human rights and labor
- Environmental and social awareness
- Establish a business code of conduct for partners and communicate it to them, along with ESG assessments
- Implement a transparent and auditable procurement and vendor selection process, including the promotion of human rights and labor rights through safety training
- Maintain a vendor registry in the Approved Vendor List (AVL) to assess risks and build strong relationships with key partners
- Set appropriate payment terms for partners to ensure financial liquidity in business operations
- Maintain strong relationships and trust with partners in the long term
- Promote collaboration for sustainable business development among partners
- Share knowledge on ESG-related topics
- Ensure financial liquidity to support partners in continuing their business operations
- Meetings with suppliers through conferences
- Supplier assessments
- Supplier training programs
- Reporting via Form 1-56 One Report and BCPG’s website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Business Ethics and Transparency
- Business Growth (e.g., Direction, Project Progress) and 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
- Strictly comply with business ethics, laws, and relevant regulations.
- Disclose accurate and transparent information within the specified timeframe, ensuring it is easily understandable and accessible on the Company's website (eg. such as the Factsheet, Company Profile, and operational results)
- The Investor Relations department will coordinate with investors and shareholders, providing accurate responses to inquiries within the specified timeframe.
- Forward feedback and questions from investors to the management team
- Distribute dividends to shareholders in accordance with the Company’s performance and policies
- Seek suitable investment opportunities in the clean energy sector
- Collaborate with business partners in clean energy investments
- Uphold Good Corporate Governance
- Disclose Accurate and Transparent Information to the Stock Exchange
- Maintain Long-term Trust and Confidence with Investors
- Support Green Investment or Sustainable Finance
- Operate Efficiently for Shareholders and Investors Supporting Clean Energy
- Meetings between the Company and investors/ shareholders, such as quarterly Analyst Meetings, Roadshows, company visits, conference calls, Annual General Meetings, SET Opportunity Day, and Management Discussion & Analysis (MD&A)
- Discussions, analyses, and responses to inquiries through investor-related channels/activities, such as teleconferences, email, the Company website, and Facebook
- Disclosure of information to the Stock Exchange of Thailand (SET)
- Reporting via Form 1-56 One Report and the Company website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Business ethics and transparency
- Business growth - focusing on clean energy and related sectors
- Sustainable business operations, including environmental, social, and safety management
- Comply with business ethics, laws, and relevant agreements
- Support government policies and practices related to energy
- Collaborate with business partners to promote the development of clean energy especially for renewable energy business and related technologies
- Share knowledge on clean energy technologies
- Maintain good corporate governance
- Foster long-term trust and relationships with business partners
- Promote collaboration in the country's energy transition through regional access to clean energy
- Support the demand for clean energy and the development of future technologies
- Joint meetings with partners
- Training on clean energy technology
- Reporting via Form 1-56 One Report and BCPG’s website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Business impact on the community and the environment
- The Company's commitment to hiring local workers
- Community engagement and support for community activities
- Compliance with social and environmental laws
- Comply with Relevant Laws and Regulations
- Create Job Opportunities for Local People around the Group’s Power Plant
- Engage with Local Communities and Support Various Community Activities as Appropriate (e.g., educational activities on clean energy for the environment for youth, and donations to aid flood victims)
- Install Solar Power Systems on Roofs for Hospitals in the Operational Area Using the Group’s Existing Resources to Maximize Value and Benefit
- Minimize the impact of business operations on communities and the environment
- Maintain good relationships and long-term trust with surrounding communities
- Reduce the national unemployment rate, create jobs, and improve the quality of life for people in areas surrounding power plants
- Engagement with local communities
- Community opinion surveys
- Community and environmental activities
- Public communication through loudspeakers, community broadcast towers, bulletin boards, and online media
- Reporting via Form 1-56 One Report and BCPG’s website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Business ethics and transparency
- Compliance with laws, including environmental and safety management for loan agreements
- Social responsibility and respect for stakeholders' human rights
- Risk management
- Collaboration in business development and mutual growth as per agreements
- Comply with Loan Agreement Terms and Relevant Laws
- Promote Cooperation with Financial Institutions on Environmental Matters and Sustainable Business Development
- Maintain Good Corporate Governance
- Sustain Long-term Relationships and Trust with Financial Institutions
- Support Sustainable Finance Investment Projects
- Maintain Financial Balance, Security, and Build Confidence in the Financial Market
- Meetings with financial institutions and analysts drafting contracts and financial terms
- Signing loan agreements to support the expansion of clean energy business
- Insurance or management of foreign exchange and interest rate risks
- Annual general meeting of shareholders
- Reporting via Form 1-56, One Report, and the Company website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Compliance with relevant laws and regulations
- Business ethics and transparency
- Support for environmental and social responsibility in business operations
- Support for government energy policies and providing accurate information
- Comply with business ethics, laws, and relevant regulations
- Respond and provide accurate information within the specified timeframe
- Conduct business with caution, considering environmental and social impacts, such as maintaining environmental management measures in accordance with ISO 14001 standards
- Cooperate with and support government agencies to exchange knowledge and improve energy policies
- Maintain good corporate governance
- Foster strong relationships with government agencies to ensure confidence in the energy sector
- Reduce conflicts with regulatory authorities in business operations
- Participate in reviewing national energy policies and practices
- Contribute to the country's Nationally Determined Contributions (NDCs)
- Meetings and site visits to BCPG Group on various occasions
- Participation in and support for government agency projects
- Training and knowledge transfer for officials to improve understanding and engagement in the energy sector
- Reporting via Form 1-56 One Report and BCPG’s website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
- Business Growth (e.g., Direction, Project Progress, and Environmental and Social Considerations)
- Clear Communication Channels (e.g., Fast Access to Information, Timely Responses)
- Disclose information transparently through various channels
- Provide clear and relevant information
- Respond to media inquiries and disseminate important information within the required time frame
- Maintain good relationships with the media
- Access relevant information quickly
- Promote understanding and knowledge of the organization's business
- Press conferences
- Interviews and meetings with the media
- Meetings and site visits to BCPG Group Annual General Meeting of Shareholders
- Reporting via Form 1-56 One Report and the Company's website
- Whistleblowing or complaint channels (https://www.bcpggroup.com/ th/corporate-governance/ whistleblowing-channel)
Stakeholder Engagement Process
BCPG has analyzed and prioritized key sustainability issues by considering their impacts and the significance of these issues to the company and stakeholders both internal and external of the organization. This analysis considers both financial and non-financial impacts, following the concept of Double Materiality. It evaluates the risks, opportunities, and both positive and negative impacts on the environment, society, and the economic and governance dimensions, referencing international sustainability reporting standards (GRI Standards 2021). The assessment is further enriched by input from experts and all stakeholder groups to ensure that the evaluation covers both business impacts and those on society and the environment. The Company considers the materiality assessment as the crucial part of Enterprise Risk Management and emphasizes on the identification of risks. This focus enables the Company to establish appropriate risk management plan for continuing the development of sustainable management. The process consists of the following steps
Review and Identification of Materiality Issues Regarding Sustainability
BCPG reviews and analyzes the key issues identified in the previous year and examines global and industry sustainability trends. This process includes studying the material issues defined by companies within the same industry according to sustainability standards that assess various key factors across business activities, as well as economic and legal trends that may impact operations. BCPG has a policy to review and identify material sustainability issues on an annual basis.
Identification of Impacts from Each Materiality Issues Regarding Sustainability
BCPG identifies potential impacts of key sustainability issues on its operations and relevant external stakeholders through survey with nine stakeholder groups: investors and shareholders, customers, employees, government agencies, business partners, strategic alliances, communities, financial institutions, and the media. Additionally, BCPG gathers insights from industry experts through surveys and interviews. Stakeholders provide feedback on the positive and negative impacts of materiality issues as well as the risks and opportunities that might impact BCPG’s short-term and long-term operation.
Assessment of Materiality Issues Regarding Sustainability
BCPG gathers input from stakeholders and experts to assess the impact on the business and external stakeholders, considering the Likelihood and the Severity. This includes Financial Impact, Reputational Impact, and Operational Impact. For external impacts, considerations include the affected area, and the number of people impacted
Prioritization and Verification of Materiality Issues Regarding Sustainability:
BCPG compiles scores from the impact analysis of each material issue to establish a ranking. These issues are then used to develop strategies, operational goals, action plans, and evaluation plans for monitoring and auditing. assessment results are presented to the Sustainability Development Committee and the executive team for approval regarding data disclosure and setting the direction for further sustainability development.
Materiality Matrix
Key Sustainability Issues
Environment
- 1 Climate Change
- 2 Biodiversity and Ecosystems
Social
- 3 Human Capital Recruitment, Development and Retention
- 4 Local Communities and Human Rights
- 5 Occupational Health and Safety
Economic
- 6 Business Adaptability
- 7 Risk and Business Continuity Management
- 8 Corporate Governance, Conduct and Ethics
- 9 Innovation and Digitalization
Other Sustainability Issues
Environment
- 10 Water Management
- 11 Air Quality and Pollution Management
- 12 Waste Management
Economic
- 13 Sustainable Supply Chain
- 14 Cybersecurity Maintenance
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.