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
B.Grimm Power is dedicated to developing the Stakeholder Engagement Procedure, as referenced by the AA1000 Stakeholder Engagement Standard (AA1000SES) 2015, to helps us better understand the impact of our operations on all stakeholders. 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
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 of shareholders (AGM) gives shareholders the opportunity to ask questions and vote
- Quarterly analyst meeting
- Quarterly opportunity day
- Company visits (power plants visit)
- Roadshow to meet domestic and foreign investors
- Communicating operational results through various channels such as annual data list / annual report (Form 56-1 One Report), Management Discussion and Analysis Report and B.Grimm Power website
Needs and Expectations
- Dividend payment, valuable stock, protection of shareholders’ interests
- Effective management and project successes
- Good performance and continued business growth
- Risk and opportunity management
- Corporate governance and transparency
- The disclosure of information that is complete, accurate, and timely to the situation
Responses
- Goals and strategies oriented towards business growth including efficient planning and management
- Domestic and International expansion and investment opportunities
- Build strong business partnerships to increase potential and competitiveness.
- Conformity to corporate governance principles of transparency, fairness, and accountability
- AGM as a platform for questions and answers that allows shareholders to express thoughts
Engagement Channels
- Meetings, training sessions, and seminars with partners and suppliers
- Occasional company visits
Needs and Expectations
- Support and joint projects for mutual growth
- Supervision of partners’ and suppliers’ occupational safety and work environment
- Ability to meet deadlines and fulfil contracts / business payment terms and conditions / transparent, fair, accountable, and equal opportunity selection processes
Responses
- Establlish the "Supplier Code of Conduct and Guidelines for Sustainability : SCOC " that is integrated with the procurement process, covering issues related to business ethics, labor practices, human rights, safety and occupational health, as well as social responsibility and environmental sustainability in joint operations
- Suitable selection and evaluation of partners’ and suppliers’ performance
- Perform ESG risk assessment in suppliers and evaluate supplier satisfaction
- Provide training activities for potential suppliers to serve as guidelines for implementation, to improve the relationship with suppliers and enhance cooperation to strengthen value creation throughout the supply chain
Engagement Channels
- Meeting with customers in an industrial estate to plan production that meets their needs
- Meeting to exchange information and opinions with the Electricity Generating Authority of Thailand (EGAT) and Provincial Electricity Authority (PEA) control centers regarding electricity distribution.
- Participation in EGAT group’s public relations activities
- Meetings between key customers and our senior executives
- Customer satisfaction surveys for feedback-based service improvements
Needs and Expectations
- Generating and delivering safe and reliable electricity at the capacity specified in the purchase agreement and at a reasonable price
- Fair and ethical adherence to the terms and conditions of agreements and contracts
- Use of eco-friendly power-generating technologies that do not harm local communities and society at large
- Confidentiality of information
- Responsive service and assistance
Responses
- Regular maintenance and improvement of machinery, including use of modern eco-friendly technologies
- Support customers who want to conduct business in an environmentally friendly manner, including providing information on certification for renewable energy production
- Provide information about Renewable Energy Certificates (RECs) to customers to help plan for reducing carbon emissions per unit of electricity consumption.
- Prepare for electricity production and distribution by building and developing a reliable and stable electrical system to produce high-quality and highly efficient electricity.
- Analyse customer satisfaction surveys for feedback-based service improvements
- Confidentiality of customers’ information and strict adherence to the Code of Conduct
- 24-hour assistance and maintenance
Engagement Channels
- Meetings and information exchanges
- 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 and exchanges with regulators
- Participate in government agency activities or co-organise activities 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 terms of 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
- Co-operation with regulators and accurate, complete, and timely reporting
Engagement Channels
- Annual visit by President and senior management
- Town hall meeting where executives meet with employees to provide quarterly updates, discuss management and business operations, and address important matters.
- Company engagement survey conducted every two years by an external consultant, along with organising focus groups with employees and managers to gain in-depth insights into employee engagement issues and create employees happiness and effectiveness.
- CG Day communication and activities to promote compliance with corporate governance principles, Code of Conduct, business ethics, and Anti-Corruption Policy internally and external compliance, as well as community engagement
- Organising Sustainability Day activities to enhance employee’s knowledge and awareness of sustainability, including communicating guidelines and our commitment to sustainability efforts to employees for their acknowledgement.
- Conducting workshop training for all employees to suggest effective and enjoyable work practices.
- Performance assessment and use of employees’ feedback to improve operational efficiency
- Policies and news are communicated through various channels, such as internal announcements and memos, and business communications, and modern learning channels such as email and the internal portal. Including, ensuring the safety of one’s own and family’s health through various communication channels whether email or internal portal site.
Needs and Expectations
- Workplace happiness, clear understanding of objectives, and efficiency
- Fair compensation and employee benefits package that is comparable to other businesses in the same industry and corresponds to 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
- Having clear job descriptions based on the organisational structure to help all employees understand their own roles and their peers’, as well as the operational processes, and setting work goals to measure annual performance as part of the performance management system
- Providing fair compensation and benefits, including health and life insurance and Provident Fund contribution for all levels of employees
- Individual development plans to help advance careers of each employee and 360º assessment of high potential employees who may become future leaders as part of our succession management
- Ensuring workplace and work environment suitability
- Heeding employees’ opinions and suggestions to improve efficiency
- Providing whistleblowing channels with well-defined and transparent guidelines, protection of whistleblowers and complainants as well as monitoring of complaint management process
Engagement Channels
- Organise a public participation to gather feedback from stakeholders and conduct annual social surveys to access community satisfaction and opinions.
- Bilateral meetings (community and company) and trilateral meetings (government agencies, communities, and company) to obtain inputs from society
- Ongoing community communications and visits
- Annual field trip activity
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 for 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 (community and company) and trilateral meetings (government units, communities, and company) to gather feedback from society
- Continuous community communications and visits, including public relations programs, notifications, and support for community activities
- Encouraging communities, schools, and other relevant parties to visit our operations
- Supporting for community enterprises, development projects, and community-development know-how
- Supporting and driving activities to help society at large
Engagement Channels
- Press conferences and press releases about quarterly and annual results and other current topics of interest
- Interviews and press conferences to report on projects’ progress
- Occasional media visits, such as on their anniversary, to obtain their feedback and continue to build relationships
- Directly contacting and coordinating with the corporate communication team through social media channels or telephone.
Needs and Expectations
- Complete, accurate, and timely reporting of transparent and verifiable information
- Quick and conveniently accessible channels of communication
- Good relationships between media and our organisation
Responses
- Complete, correct, and timely information provided to the media by Corporate Communications Department
- Regular disclosure and communication to media
- Arranging media meetings and visits to gather feedback and continue to build relationships with them
Impact management for stakeholders in the value chain
Value Business Creation
