Banpu Power has conducted a business sustainability materiality assessment to prioritize the short- and long-term key sustainability issues. The sustainability strategies and targets with action plan and appropriate indicators for the years 2021-2025 have been set in accordance with the “Greener & Smarter” strategy. Meanwhile the sustainability progress has been monitored and evaluated continuously, ranging from business units, the Sustainability Committee, the Risk Management Committee to the Board of Directors. In addition, the external assessment results from both national and international agencies are also taken into account to plan for improvements and heighten BPP’s sustainability performance standards in order to cope with constant changes and meet the international standards as well as satisfy stakeholders’ expectations.
Banpu Power’s key sustainability materiality is assessed by prioritizing its significances in accordance with the Global Reporting Initiative (GRI) and AA1000 AccountAbility Principles (AA1000AP). The materiality prioritization has been considered based upon its importance to BPP and stakeholders covering environmental, social, and governance (ESG) issues. The significant materiality has been annually reviewed by the Sustainability Committee. The sources of sustainability issues include:
- Trends or directions of changes in the energy business
- Applicable laws and trends in future changes
- Customer’s current and future energy demand
- Best practices and operational standards in the power and other related businesses
- Risks associated with operations and growths, including ESG-related risks
Result from Materiality Assessment
In the past year, BPP evaluate sustainability issues and prioritized 14 materiality topics which reviewed by top management and approved by the Board of Director.