Stakeholder Engagement
Approach to Stakeholder Engagement
CKPower recognizes the crucial role of stakeholder engagement in enhancing business operations and fostering long-term sustainability. To ensure a structured and transparent approach, CKPower has established a stakeholder engagement policy, designed to prioritize and understand stakeholder perspectives and expectations in the formulation of strategies and management approaches. The company annual review of stakeholder engagement activities and communication channels to ensure all stakeholders have equal opportunities to participate, voice concerns, and contribute in a transparent and meaningful manner.
Stakeholder Engagement Process
In relation to the process above, CKPower has identified six key stakeholder groups:
CKPower’s stakeholder engagement process is compliant with the AA1000 Stakeholder Engagement Standard (AA1000SES), ensuring a comprehensive approach to identifying stakeholders who may be positively or negatively impacted by its business activities across environmental, social, governance, and economic dimensions. The Company also integrates human rights considerations into its engagement strategy and evaluates stakeholder relationships based on their level of influence and interdependence with CKPower’s operations.
Scope of Impact of Sustainability Issues
| Material Sustainability Issues | Scope of Impact of Sustainability Issues | |||||
|---|---|---|---|---|---|---|
| Internal | External | |||||
| Employee | Government agencies and related organizations | Customers | Communities and society | Suppliers and Contractors | Investors and shareholders | |
| Corporate governance | ||||||
| Risk and Crisis Management & Cybersecurity and Data Privacy | ||||||
| Innovation Management | ||||||
| Business Model Resilience | ||||||
| System reliability and availability | ||||||
| Customer relationship management | ||||||
| Respect for Human rights | ||||||
| Social and Community Care | ||||||
| Supply chain management | ||||||
| Occupational health and safety | ||||||
| Human capital management | ||||||
| Environmental management | ||||||
| Energy Management and Climate Strategy | ||||||
| Biodiversity | ||||||
Stakeholder Group
CKPower has established a systematic stakeholder classification, incorporating six distinct groups: customers, shareholders, communities and society, employees, suppliers and contractors, and government agencies and related organizations. To safeguard the welfare and satisfaction of each stakeholder group, the company undertakes periodic assessments to gauge their roles, responsibilities, and significance.
Communication with Stakeholders in 2024
Issues of Interest / Expectations
- Fair compensation and benefits
- Decent work environment
- Career growth opportunities
Engagement Approaches and Frequency
- The Company’s digital platform, i.e., CKPower Mobile Application
- Digital Signage
- E-mail CKPower Dailynews
- Town Hall Meeting (Annual)
- Employee engagement survey (Biennial)
- Whistleblowing and complaint channels on the Company’s website
- Welfare Committee’s meeting
- Other relevant meetings and announcements
- Annual Stakeholder Engagement Session for Materiality Assessment
Potential Benefits for Stakeholders
- Secure employment
- Good occupational health and safety records
- Competitive compensation and benefits
- Career growth opportunity
- Individual training budget allocation
Actions in Response to Stakeholder Issues in 2024
- Restructuring of compensation and benefits to be competitive within the industry
- Provision of income stability by offering the operating results- and performancebased employee bonuses
- Digitalization for employees’ convenience
- Ongoing employee development, with an average annual budget of at least Baht 9,145 THB per person
- Promotion of international occupational health and safety standards for employees in all work units
- Health promotion programs, such as annual health check-ups and corporate exercises
- Employee Development Roadmaps for career advancement
- Election of a new Welfare Committee in 2024
Issues of Interest / Expectations
- High-quality services
- Ethical and transparent business operations
- Non-discrimination against customers
- Data privacy protection
Engagement Approaches and Frequency
- High-quality services
- Ethical and transparent business operations
- Non-discrimination against customers
- Data privacy protection
Potential Benefits for Stakeholders
- High-quality services
- Ethical and transparent business operations
- Non-discrimination against customers
- Data privacy protection
Actions in Response to Stakeholder Issues in 2024
- Maintenance and improvement of the quality of services to customers’ satisfaction
- Satisfaction surveys to optimize and develop internal processes for delivery of better products and services
- Continuous operational improvement
Issues of Interest / Expectations
- Executives and employees’ understanding of external stakeholders’ expectations • Transparency and compliance with the SET requirements and disclosure criteria
- Equal treatment of investors and shareholders
- Sustainable expansion and investment opportunities while maintaining financial stability and profitability
Engagement Approaches and Frequency
- Annual Ordinary General Meeting of Shareholders (1 time)
- Form 56-1 One Report and and Structured Data (1 time)
- Company Snapshot on the SET’s website (4 times)
- Analyst Meetings (4 times)
- Opportunities Day of the SET (1 time)
- Whistleblowing and complaint channels on the Company’s website
- Other relevant meetings
- Annual Stakeholder Engagement Session for Materiality Assessment
Potential Benefits for Stakeholders
- Equal access to accurate, complete, up-to-date information beneficial to investment decisions
- Proper knowledge and understanding of the Company’s direction and business operations
- Availability of shareholders’ rights
Actions in Response to Stakeholder Issues in 2024
- Collaboration with relevant authorities to improve communication and sustainable operations
- Transparent information disclosure in line with international standards
- Activities and meetings supporting of stakeholder feedback
- Seeking joint investment to expand investment opportunities and strengthen business resilience
Issues of Interest / Expectations
- Full compliance with laws and regulations
- Cooperation for promotion of overall sustainability
- Oversight of the Company’s operations to prevent social and environmental impacts
- Participation in relevant programs/ activities/ knowledge sharing
- Driving organizational alignment with SDGs and government policies
Engagement Approaches and Frequency
- Various communication channels, including the Company’s digital platform
- Whistleblowing and complaint channels on the Company’s website
- Annual Stakeholder Engagement Session for Materiality Assessment
Potential Benefits for Stakeholders
- Cooperation in relevant matters
- Full compliance with rules and regulations
- Participation in private sector alliance network
- Strong relationships with regulatory bodies
Actions in Response to Stakeholder Issues in 2024
- Full disclosure of information for mutual trust
- Participation in sustainabilityrelated matters
- Strengthening of collaboration and relationships with regulatory bodies
Issues of Interest / Expectations
- Transparent and fair procurement processes
- Timely and reliable payments
- Personal data protection
- Opportunities for sustainable development and growth
Engagement Approaches and Frequency
- Vendor listing process (Annual)
- Satisfaction survey (Annual)
- Quarterly Conference Analysis
- Whistleblowing and complaint channels on the Company’s website
- Annual Stakeholder Engagement Session for Materiality Assessment
Potential Benefits for Stakeholders
- Trust and integrity in common benefits
- Collaboration for sustainable business development based on the Suppliers’ Code of Conduct
- Knowledge sharing and product and service transfer
Actions in Response to Stakeholder Issues in 2024
- Development of the Suppliers’ Code of Conduct with a focus on ESG dimensions
- High transparency in procurement processes • Streamlined payment procedures for timely payments
Issues of Interest / Expectations
- Contribution for positive effects on communities and environment
- Mitigation of social and environmental impacts that may arise from the Company’s operations
- Respect for communities’ fundamental rights
- Good cooperation between communities and the Company
- Transparent and auditable management procedures
Engagement Approaches and Frequency
- Contribution for positive effects on communities and environment
- Mitigation of social and environmental impacts that may arise from the Company’s operations
- Respect for communities’ fundamental rights
- Good cooperation between communities and the Company
- Transparent and auditable management procedures
Potential Benefits for Stakeholders
- Contribution for positive effects on communities and environment
- Mitigation of social and environmental impacts that may arise from the Company’s operations
- Respect for communities’ fundamental rights
- Good cooperation between communities and the Company
- Transparent and auditable management procedures
Actions in Response to Stakeholder Issues in 2024
- Transparent and auditable management procedures
- Dedicated social and environmental management units around power plants
- Strict compliance with applicable laws
- Environmental quality control beyond legal standards
- News updates from media in support of planning process
- Regular communication of facts and updates
The Company’s Value Chain
CKPower places great importance on creating shared values throughout its electricity production and distribution process to efficiently meet stakeholders’ expectations across the entire value chain, guided by Good Corporate Governance (GCG) principles. The Company is committed to managing its suppliers in a socially and environmentally responsible manner while fostering strong relationships and enhancing shared value with all stakeholders. This approach minimizes operational risks and mitigates potential impacts on the business. CKPower’s Value Chain Structure comprises:
1. Raw Material Management and Transportation
The primary energy resources for CKPower’s electricity production include hydropower, solar power, and natural gas, particularly at Bangpa-in Cogeneration Power Plants, which rely on natural gas and tap water as its raw materials and primary energy from its suppliers. Natural gas and tap water are managed and transported through the energy pipeline system under stringent supervision, ensuring safe and reliable transportation. Both the Company and its suppliers have operated the energy intake-distribution inspection systems in compliance with the relevant power purchase agreements and adhere to stringent safety standards to ensure stable and efficient energy transportation.
2. Electricity Production
CKPower invests in companies involved in the production and distribution of electricity through three types of power plants
- Hydroelectric power plants
- Cogeneration power plants
- Solar power plants
The operation sites are strategically located in both Thailand and the Lao PDR, leveraging renewable and fuel resources that can be efficiently managed for sustainable electricity production.
3. Electricity Supply
CKPower ensures stable and reliable electricity supply by optimizing the energy distribution and transmission system to meet consumer demand efficiently.
- Electricity is transmitted through the Transmission Lines and a Substations, where voltage is stabilized before delivering power to consumers, ensuring system stability and safety.
- Industrial steam, produced by the Bangpa-in Cogeneration Power Plants, is conveyed through steam pipelines to industrial estate customers, with the pressure and temperature adjustments tailored to industry-specific requirements.
4. Electricity Delivery/Distribution
CKPower delivers and distributes electricity through longterm power purchase agreements to industrial customers andovernment agencies, including:
- Electricity Generating Authority of Thailand (EGAT)
- Provincial Electricity Authority of Thailand (PEA)
- Electricité du Laos (EDL)
5. Support Activities
CKPower optimizes energy production and distribution processes through a Shared Service Center (SSC), which enhances operational efficiency and quality control across the entire CKPower Group. This includes:
- Procurement System
- Internal Audit
- Financial & Accounting Management
- Human Resources Management
- Training & Development
- Customer Service Management
This centralized support structure enhances operational efficiency, reduces costs, and strengthens CKPower's competitive edge, enabling the Company to effectively manage business expansion and adapt to the energy sector's volatility in the long term.
