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Business Ethics

Banpu Power adheres to the highest standards of business ethics, good corporate governance, transparency and fairness to all stakeholders, and is firmly opposed to corruption in all forms. The Company has issued a Code of Conduct which constitutes the Code of Best Practices to ensure full and agreeable compliance among all directors, executives and employees. These principles are abided by as an operational guideline that promotes transparent and verifiable operation of the Company and integrity toward all stakeholders equally.

The Company operates its business in compliance with applicable laws, regulations and ethical practices relating to the business operations both in Thailand and overseas, while making sure that best practices are carried out across all operations. Forms of compliance with business ethics at Banpu Power include:

• CG ASEAN Scorecard of ASEAN Capital Market Forum
• Principles of Corporate Governance of the Organization for Economic Co-operation and Development (OECD)
• The Company’s regulations in accordance with the Securities and Exchange Act
• Code of Best Practices for directors of listed companies
• Principles of Corporate Governance for listed companies of the Stock Exchange of Thailand and the Securities and Exchange Commission

Results

• The Company has been certified as a member of the Collective Action Coalition Against Corruption (CAC) by the Thai Institute of Directors Association.
• The Company has received no complaints concerning the violation of corporate governance or corruption-related incidents.
• The Company received a 4-star CG Rating, which is considered very good. The score was assessed at 87.72 percent in 2019 by the Corporate Governance Report of Thai Listed Companies (CGR) project under the Thai Institute of Directors Association.
• The Company carried out corruption risk assessment and prevention guidelines for the Year 2019, covering businesses, including subsidiaries and joint ventures, in all countries in which the Company operates.
• The Company organized a range of activities to raise awareness on anti-corruption matters, e.g. educating all stakeholders about the matter of giving and receiving gifts, souvenirs or any other benefits, and held the CG Day event.
• According to the employee survey on corporate values, “Adhere to Integrity and Ethics” is among the behaviors that are demonstrated the most by the employees.

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