Sustainability
Governance
Management Governance
The Company believes that good governance is an important basis for any business operations. Integrating environmental, social, and governance (ESG) strategies into organizational operations and management will eventually drive sustainable business growth.
Sustainability Committee
Composition, Qualifications, and Term: To champion sustainability at the forefront of our operations, the Company has established a “Sustainability Committee”, a strategic assembly of senior executives and business unit heads from every country where the Company operates, chaired by the CEO – who also serves as a member of the Board of Directors.
Meeting and Reporting
Meetings convened at least quarterly.The Committee reports its activities and outcomes to the ESG Committee ,accordingly.
Duties and Responsibilities:
• Endorse and recommend policies, strategies, and objectives regarding ESG matters
• Provide recommendations for stakeholder engagement and materiality assessment process
• Monitor ESG performance and identify areas for improvement
• Oversee the Company’s adherence to sustainability principles and international standards in the public disclosure
Climate Change Committee
As climate change is one of the significant topics in ESG trend as well as in Banpu operations, in order to manage the carbon emission and establish decarbonization pathway in Banpu group effectively, the Company has established a “Climate Change Committee” to formulate climate strategy and practices in addressing the challenges posed by climate change. The members of the committee are nominated and approved by each business unit head
Global Corporate Sustainability Department
In practice, the “Global Corporate Sustainability” department is the center in driving sustainability initiatives by collaborating across various departments to co-create plans and guidelines, set ambitious goals, and cultivate sustainability awareness among employees and stakeholders.
Performance Evaluation of CEO and Senior Management
Establishing the CEO’s Key Performance Indicators (KPIs) is a critical process overseen by the Board of Directors, with the Compensation Committee playing a vital role in the initial review. These KPIs encompass 6 areas: Group Strategy, Company’s Performance, Funding Strategy, People & Culture, Communication & Network, and Commitment to ESG. The focus dedicated on the commitment to ESG accounts for 15% of the total KPIs. Within the ESG category, specific KPIs cover critical sustainability metrics, such as GHG emissions intensity reduction, Occupational fatality and injury rate, and Significant corporate governance complaints. The Compensation Committee evaluates the CEO’s performance against these KPIs and proposes to the Board of Directors for final consideration. In parallel, the KPIs for senior executives are directly aligned with these CEO’s KPIs, in which performance are evaluated by the CEO.
Remuneration of CEO and Senior Management
The Board of Directors has set performance goals for the CEO and considers the CEO’s compensation based on his annual performance. In turn, the CEO evaluates executives and senior executives based on goals and criteria corresponding with the Company’s strategic plan and annual action plan, along with the CEO’s performance goals, in order to determine appropriate compensation packages and incentives.
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