Why is it important
B.Grimm Power respects and treats all stakeholders equally, grounded in our philosophy of ‘Doing Business with Compassion.’ Through various engagement channels, we learn about our stakeholders’ expectations and use their feedback to improve our operational efficiency. By doing so, we have not only garnered their trust and support but also ensured the sustainable growth of our organisation.
Management Approach and Strategy
Policy and Commitment
B.Grimm Power is dedicated to developing the Stakeholder Engagement Procedure, firmly anchored in the principles of the AA1000 Stakeholder Engagement Standard (AA1000SES) 2015. This ensures a comprehensive understanding and assessment of impacts of our operations on all stakeholder groups, including the local stakeholders (around the power plant). These encompass the community and society groups, as well as the relevant regulators group such as households, local community leaders, local administrative organisations, and other vulnerable local groups like religious places, educational institutions, and local medical facilities. In doing so, we promote comprehensive and balanced stakeholder engagement, striving to respond to three foundational pillars:
Inclusivity
Participation of all stakeholders
Materiality
Determining the matters of importance to B.Grimm Power’s operations that may impact stakeholders
Responsiveness
Our organisation is managed systematically, and our performance is transparently disclosed to all stakeholders
Furthermore, all of our stakeholder groups will be considered throughout every process in accordance with our commitment and procedure, from stakeholder identification to stakeholder prioritisation, determination of engagement levels and methods, stakeholder engagement plan and strategy, handling stakeholder engagement risks, and even the grievance mechanism. These practices will be regularly reviewed and approved by the board of directors, taking into account the outcomes of stakeholder engagement and any concerns that may arise.
Management Approach
Stakeholder Analysis
- Identify all stakeholders.
- Identify B.Grimm Power’s level of impact on stakeholders.
- Assess the Stakeholders’ level of influence on B.Grimm Power’s operation.
- Stakeholders are categorised based on the two dimensions: B.Grimm Power impact on stakeholders and their influence and interest in B.Grimm Power.
- Prioritise the stakeholders and set appropriate and adequate engagement and communication guidelines for each group.
Stakeholder Engagement
Engagement Channels
- Annual General Meeting (AGM), allows shareholders to ask questions and vote
- Quarterly analyst meetings
- Quarterly opportunity days
- Company visits (power plants visits)
- Communicating operational results through various channels such as
Form 56-1 (One report), and the company website
Needs and Expectations
- Dividend payment, valuable stock, protection of shareholders’ interests
- Effective management and project successes
- Favorable performance and continued business growth
- Risk and opportunity management
- Corporate governance and transparency
- Complete, accurate, and timely reporting
Responses
- Goals and strategies focused on business growth including efficient planning and management
- Domestic and international expansion and investment opportunities
- Build strong business partnerships to increase potential and competitiveness
- Adhere to corporate governance principles of transparency, fairness, and accountability
- AGM serves as a platform to respond to inquiries and provide an opportunity for shareholders to express their opinion
Engagement Channels
- Meetings, training sessions, and seminars for partners and suppliers
- Occasional company visits
Needs and Expectations
- Support for collaboration and joint projects for mutual growth
- Supervision of partners’ and suppliers’ occupational safety and work environment
- Ability to deliver on commitments, comply with contracts, agreements, and business payment terms, adhere to transparent, fair, and auditable procurement conditions, ensuring equal opportunities for qualified partners
Responses
- Establish the Supplier Code of Conduct and Guidelines for Sustainability
- Suitable selection and evaluation of partners’ and suppliers’ performance
- Perform ESG risk assessment in suppliers and evaluate supplier satisfaction
- Provide training to enhance suppliers’ capability
Engagement Channels
- Meeting with customers at industrial estates
- Meeting to exchange perspectives with Electricity Generating Authority of Thailand (EGAT) and Provincial Electricity Authority (PEA)
- Participation in EGAT Group’s public relations activities
- Customer satisfaction surveys
- Meetings between key customers and our senior executives
- Customer Conference Day to engage with customers and provide new solutions
Needs and Expectations
- Safe and reliable electricity supply at the capacity specified in the purchase agreement at a reasonable price
- Fair and ethical adherence to the terms and conditions of agreement and contracts
- Utilise eco-friendly power generating technologies that do not harm local communities and society
- Confidentiality of customer information
- Responsive service and assistance
Responses
- Regular maintenance and improvement of machinery, including use of modern
eco-friendly technologies - Support customers aiming to operate environmentally friendly business, such as providing rooftop solar power unit installation services
- Power generation and distribution readiness, including stability, reliability, quality, and maximum efficiency
- Customer satisfaction survey on regular basis
- Ensure confidentiality of customers’ information and strict adherence to the Code of Conduct
- 24/7 customer assistance and maintenance services
Engagement Channels
- Meetings and exchanges of information
- Occasional meetings and visits to provide project updates to creditors
Needs and Expectations
- Strict adherence to contractual terms and conditions and applicable laws and regulations
- Fair and equal treatment of all creditors
- Corporate governance
- Transparent, complete, accurate and timely information disclosure
Responses
- Strict compliance with relevant financial laws and regulations, as well as the terms and conditions of loan and debenture agreements
- Full financial disclosure in quarterly and annual financial reports, notifications to the SET and Form 56-1 (One Report)
- Report to creditors in the event of expected non-compliance with contractual terms and conditions to find mutual solutions
Engagement Channels
- Regular meetings with regulators
- Participate in government agency activities or cooperative initiatives to foster communication, exchanges of opinions
- Occasional company visits
Needs and Expectations
- Strict compliance with applicable laws, rules, and regulations
- Support for government initiatives, tax and fee payments per government policy, and support for other SPPs in power generation
- Fair, transparent and accountable operations
- Transparent, accurate and timely reporting
Responses
- Strict compliance with applicable laws, rules, and regulations
- Monitoring changes in applicable laws and regulations to ensure compliance and accuracy in practice
- Cooperation with regulators and accurate, complete, and timely reporting
Engagement Channels
- Annual visit by the president and senior management
- Town hall meeting
- Employee engagement survey conducted annually and focus group interview with employees and management
- ESG Day communication and activities on corporate governance and sustainability
- Workshops for employees to feedback and suggest effective and enjoyable work practices
- Performance assessment and the use of employees’ feedback to improve operational efficiency
- Policies and news communicated through various channels
Needs and Expectations
- Workplace happiness, clear understanding of objectives, and efficiency
- Fair compensation and employee benefits comparable to industry standards, aligns with B.Grimm Power’s competitiveness
- Continuous development of knowledge and skills
- Career advancement and job security
- Supervision of suitable work environments and occupational health and safety
Responses
- Establish clear job descriptions based on the organisational structure to help employees understand their roles and peers’ responsibilities, as well as the operational processes, and setting work goals to measure annual performance as part of the performance management system
- Provide fair compensation and benefits, including health and life insurance and Provident Fund contribution for all levels of employees
- Develop individual development plans to advance employees’ careers and 360º assessments of high potential employees for future leadership roles under succession management programme
- Ensure workplace and work environment suitability
- Consider employees’ opinions and suggestion to improve efficiency
- Provide whistleblowing channels with well-defined and transparent guidelines, protection of whistleblowers and complainants as well as monitoring of complaint management process
Engagement Channels
- Organise public participation initiatives to gather feedback from stakeholders and conduct annual social surveys to assess community satisfaction and opinions
- Bilateral meetings (community and company) and trilateral meetings (government agencies, communities, and company)
- Ongoing community communications and visits
- Annual field trip activities
Needs and Expectations
- Responsible operations that do not harm communities, society, and the environment
- Openness to local communities’ participation and input
- Strengthening local communities and improving their quality of life while ensuring business growth
- Support community enterprises, development projects, and community-development know-how
Responses
- Rigorous compliance with community and society-related laws and regulations
- Reports on compliance with preventive measures and environmental impact mitigation
- Bilateral meetings and trilateral meetings to gather feedback
- Continuous communication with the community through public relations programs, notifications, and support community initiatives
- Encourage relevant parties to visit our operations
- Support small and micro community enterprises development
- Support for social betterment activities
Engagement Channels
- Press conferences and public relations news
- Media interviews
- Occasional media visits
- Direct communication channel with the corporate communication department through social media, email or call
Needs and Expectations
- Complete, accurate, and timely reporting of transparent and verifiable information
- Quick and conveniently accessible channels of communication
- Good relationship between the media and our organisation
Responses
- Establish the Corporate Communications Department, a dedicated department, which provides information to the media
- Regular disclosure and communication with the media
- Arrange media meetings and visits
Impact management for stakeholders in the value chain
Business Value Chain
Primary Activities
Sourcing
Operation & Maintenance
Transmission & Distribution
Sales & After-Sales Service Department
Support Activities
Human Resource Management
Financial Management
Cybersecurity and Personal Data Protection
