Sustainability
Management
Sustainability Assurance
Sustainability assurance is a crucial process that enhances the credibility, reliability, and transparency of Banpu’s sustainability practices. It involves the evaluation of the Company’s sustainability processes, data, and disclosures to ensure that the information presented is accurate, comprehensive, and aligned with recognized international standards and frameworks. This assurance process not only helps build trust with stakeholders but also supports Banpu in achieving our long-term sustainability goals.
Three-line of defense in ESG management
Banpu adopts the Three Lines of Defense model, a widely recognized framework for managing Environmental, Social, and Governance (ESG) risks. This approach helps ensure effective governance, accountability, and continuous improvement across all levels of ESG management.
First Line of Defense: Operations
Operational Departments are responsible for the day-to-day management of ESG topics within their respective areas. This includes identifying ESG risks and opportunities, ensuring compliance with internal policies and external regulations, and integrating ESG considerations into business operations.
Second Line of Defense: Corporate Office
Specialized Functions at the Corporate Office provide oversight and support to the first line. This includes establishing ESG-related policies, offering training and capacity building, and facilitating communication between strategic oversight and operational execution. The second line ensures that ESG-related policies, standards, and targets are effectively communicated and understood across the organization.
Third Line of Defense: Sustainability Assurance
Sustainability Assurance Department conducts quality assurance reviews (QAR) to evaluate the effectiveness of ESG management and control processes. This function independently assesses the adequacy and effectiveness of both the first and second lines through audits, process reviews, and recommendations for improvements.
In addition to internal assurance, Banpu engages independent third-party auditors to conduct external assurance. These auditors assess the sustainability data and disclosures in accordance with internationally recognized standards, further enhancing the credibility and transparency of Banpu’s sustainability performance disclosed to the public.
Sustainability Process Assurance
Sustainability process assurance focuses on evaluating the effectiveness and consistency of the Company’s sustainability management processes.
• Internal Assurance: Conducted annually by the Sustainability Assurance Function and relevant internal functions to ensure alignment with policies, standards, and procedures established by the Corporate Office.
• External Assurance: Performed by third-party auditors following international standards such as ISO, AA1000, and GRI to validate that processes meet recognized benchmarks.
Sustainability Data Assurance
Sustainability data assurance focuses on verifying the accuracy, completeness, and reliability of the data disclosed to stakeholders.
• Internal Assurance: Conducted annually by the Sustainability Assurance Function to ensure that data is collected and reported in line with both GRI Standards and internal controls.
• External Assurance: Overseen by the Corporate Sustainability Function, which engages independent third-party assurance providers to verify the data disclosed in the sustainability report regarding its compliance with GRI Standards.
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