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Business Ethics


With an aim to conduct its business for the maximum benefit of shareholders, investors, customers, business partners, communities and stakeholders, Banpu Power therefore makes the utmost efforts to develop its businesses to prosper and yield good returns in parallel with operating business with honesty, integrity, and morals.  Banpu Power has developed the Code of Conduct booklet, compiling code of best practices for its Board of Directors, executives and, employees so that they acknowledge the standards expected by the company and use them as the operating guidelines.  In addition, Banpu Power is committed to respecting and complying with relevant laws, regulations, and rules wherever it operates businesses, with an aim to develop and enhance its business ethics and build confidences among shareholders, investors, customers, business partners, communities and all stakeholders’ groups.

Management Approach

The Board of Directors, senior executives, and employees have adhered to the Code of Conduct as a guideline for performing their duties with honesty and transparency, upholding to the rules of law, standing firms in justice and ethics, inclusion of putting top priority to customers and social responsibility, not being involved with politics and taking into account all group of stakeholders.  These also include non-violations of human rights, anti-corruption, no gifts and bribes, no conflicts of interest, no actions violating others’ intellectual properties or copyrights, and having channels for stakeholder’s whistleblowing.

Banpu Power has focused on enhancing its business ethics to meet the international standards as well as adhered to conducting businesses in accordance with the laws, rules, regulations and guidelines relating to business operations both within the country and abroad, including:

  • The Principle of Good Corporate Governance by the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC)
  • The Securities and Exchange Act
  • Policy Statement on Code of Best Practices of Directors of Listed Companies
  • CG ASEAN Scored Card, by ASEAN Capital Market Forum
  • Principles of Corporate Governance, by The Organization for Economic Co-operation and Development (OECD)

Banpu Power has realized the importance of fighting against all forms of corruption either directly or indirectly. To prevent corruption likely arising, the anti-corruption measures have been stipulated in writing on the Anti-Corruption Policy and the Anti-Corruption Guidelines regarding accepting and offering gifts, hospitality, or other similar forms of rewards.  These include clarifying, understanding and communicating the best practices to the Board of Directors, executives and all employees so that they can use them as a clear guideline for conducting business with honesty and auditable.  Furthermore, Banpu Power has also participated in and has been certified as a member of the Collective Action Coalition Against Corruption Project (CAC), an independent entity.  CAC has reviewed the anti-corruption system of Banpu Power and also helped it improve the work procedures to be more efficient, leading to the development and strengthening of the integrity and transparency of the Company sustainably.

The Board of Directors, executives and all employees of Banpu Power agreed to conduct business in accordance with jurisprudence in order to be a part of driving the business mechanism in accordance with the principles of sustainable governance. As such, the Board of Directors has established the efficient corporate governance (CG) structure and system including supervision, monitoring and evaluation. So that all parties have the single direction guidelines in accordance with the principles of good corporate governance. In addition, the Board of Directors has assigned the Audit Committee to audit and monitor the internal control system, risk management in paradelle with balances.  

In addition, Banpu Power has educated and communicated these measures to the Board of Directors, management, employees and stakeholders so as to create awareness and conduct concreate anti-corruption actions.  Besides, it has communicated these measurements to its joint venture companies through various channels such as the company’s representatives who are the executive committee, identifying the anti-corruption policy and practice guidelines on all contracts made with business partners, corporate visits, and organizing workshops, inclusion of auditing the internal control system with the Internal Audit Department of joint-venture companies, etc.


  • No significant CG grievances.
  • The CG assessment was in a very good level, representing for 94%.
  • No CG and corruption relating incidences.
  • Certified as a member of the Collective Action Against Corruption (CAC) from the Thai Institute of Directors Association since 2019.


Key Activities and Projects



Corporate Governance Policy and Code of Conduct

Anti-Corruption Policy

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