Sustainability Overview

Message from the Managing Director

With our 12 years of renewable energy experience, CKPower has been instrumental in advancing Thailand's Energy Transition. Our vision to become "one of the region's largest producers of electricity from renewables with one of the lowest carbon footprints" aligns with Thailand's national policy of transitioning from fossil fuels to renewable energy.

In alignment with this vision and the United Nations Sustainable Development Goals (SDGs), we have maintained our commitment to the "C-K-P" sustainability strategy, encompassing Environmental (C - Clean Electricity), Social (K – Kind Neighbor), and Governance & Economic (P - Partnership for Life) aspects. Our dedicated "Sustainable Development Steering Committee” plays a pivotal role in setting strategic directions and goals in sustainability, rigorously overseeing and supporting our plans in both the short and long term. Our commitment to the 'C-K-P' strategy has yielded substantial achievements across all dimensions, positively impacting our business and stakeholders along the entire value chain.

In the Environmental dimension, under C - Clean Electricity, we developed a strategy for energy and climate change management that aligns with international standards (Task Force on Climate Related Financial Disclosures: TCFD). In 2023, we enhanced our renewable energy capacity to 93%, generating 8.5 million MWh of renewable electricity which accounted for 17% of Thailand's renewable energy consumption, and thereby avoiding 4.4 million tons of carbon dioxide equivalent emissions annually. Our successful "Green Bond" issuance for XPCL, a CKPower associated company, underscores that renewable energy can simultaneously drive business growth and environmental conservation.

In Employee Engagement, we cultivated a culture of environmental consciousness and conservation, motivating our employees to create innovations in energy efficiency and energy consumption reduction. This has been recognized by the Asian Power Awards for four consecutive years.

On the Social front, under K – Kind Neighbor, we focused on community engagement, leveraging our expertise in renewable energy engineering. Our CSR Strategy Framework aims to (1) enhance access to renewable energy for better quality of life, (2) sustain natural resources and the environment, and (3) boost job stability and develop community careers. Our flagship "Hinghoi" Project in Thailand and Laos, under the "competency-co-creation-cooperation-connection" strategy, has significantly improved community life, earning us the AREA Awards 2023 for Social Empowerment from Enterprise Asia, the Asset ESG Corporate Awards 2023 for Best Initiative – Social Responsibility, and the CSR-DIW Continuous Award.

In Governance and Economic aspects under P - Partnership for Life, we aimed to enhance our capabilities and expand the renewable energy market with resilience. In 2023, we embarked on several key projects demonstrating this commitment; notably, the utilization of solar energy for Thailand's first electric mass transit rail system, in collaboration with the Bangkok Expressway and Metro Public Company Limited. Additionally, our growth in renewable energy activities, such as the selling of Renewable Energy Certificates (RECs) and forging partnerships for new technological innovations, further underscores our dedication to building a resilient and sustainable energy future.

Our unwavering commitment to sustainable development in all facets and our efforts towards creating a positive global impact have established us as a steadfast participant in the United Nations Global Compact since 2020. We consistently uphold its ten universal principles. This deep-rooted dedication to sustainability has not only earned us the prestigious SET Awards 2023 for Sustainability Excellence in the Commended Sustainability Awards category from the Stock Exchange of Thailand but also positioned us among the top 34 companies to receive the 'SET ESG Ratings for 2023 at the AAA level' – the highest attainable rating. Additionally, for the second consecutive year, our efforts have been recognized with a listing in the ESG100 by the Thai Development Research Institute.

Thanawat Trivisvavet