CKPower’s Push to Sustainability: Recognized by Awards of Achievement
In 2020, CK Power Public Company Limited has received accolades of achievements, underscoring the company’s commitment to a sustainable business practice that considers the principles of Environment, Social, and Governance (ESG). The following awards indicate yet another step of success for the Company as a generator and provider of electricity from three types of power plants, which are, Hydroelectric, Cogeneration and Solar Power Plants.
Firstly, CKPower, known as “CKP” in The Stock Exchange of Thailand (SET) index, was selected as one of the 2020's new additions to the Thailand Sustainability Investment Index (THSI). In this year’s selection process, 124 registered companies made it to the list whereas just 51 companies were nominated in 2015. This increase signals that Thai companies have become increasingly committed to the development of sustainable businesses that consider the principles of Environment, Social, and Governance (ESG) in their operations.
During the selection process of the THSI, the participating companies had to respond to sustainability questionnaires which consisted of 19 categories covering economic, governance, social, and environmental aspects. These questions were aimed to assess the sustainability of the company’s operation, which can be summarized to 4 main levels including policymaking, goals setting and implementation, performance evaluation, and information disclosure. To be chosen as one of the Sustainability Investment Index companies, a company must score more than 50% in all aspects of the evaluation and surpass the standards outlined by the SET; such as the Corporate Governance Reporting (CGR), performance report on net profit and stakeholders ratio, oversight on issues relating to the company’s qualifications, as well as the commitment towards the ESG principles. The whole selection process was closely monitored by a working group from the Thai Institute of Directors (IOD) for sustainable investment in order to ensure transparency.
Moreover, a selected number of the THSI companies also made it onto the SET-THSI list, which further promotes the investments on sustainable indexes that value environment, social, and governance in their operations. The list is reviewed bi-annually.
Secondly, CKPower also received an “Excellent” rating by the Thai Institute of Directors (IOD) for three consecutive years, reflecting the Company’s commitment to business operations that prioritize good corporate governance, ethics and transparency to all investors and partners in accordance with the Corporate Governance Code and the expectations of both domestic and international investors.
Bangpa-in Cogeneration Power Plant
Thirdly, the Company was awarded the Asian Power Award 2020, which is a significant encouragement for the staff who are determined to come up with new ideas and innovations that minimize the use of natural resources and reduce the adverse effects of the company’s operations on the environment and society. The Company still has many more ongoing and future projects that are aimed to further increase the sustainability of the company’s operations such as the reduction of water usage, waste and toxic waste management, reduction of natural gas usage and CO2 emissions.
The 2020 Asian Power Award was given to the Bangpa-in Cogeneration Power Plant for its efforts to reduce fuel consumption in the generation process. Normally two gas compressors operate simultaneously to provide the required pressure at the turbines during both peak and off-peak periods. However, during the off-peak period, when the demand for electricity is low, the level of gas required to generate electricity is also low. The Bangpa-in staff came up with a strategy to reduce the energy usage during off-peak periods by using only one instead of two gas compressors. The result is that during just three month the Company saved about 396,253 units of electricity amounting to approximately 1 million baht in direct savings. Additional indirect benefits are lower efforts for maintenance, reduced consumption of spare parts and time savings.
The “Natural Gas-Fired Power Project of the Year-Silver Award” and the “Environmental Upgrade of the Year Award” are great tokens of pride and achievement for the Company as they show that the external agencies recognize the Company’s dedication to improvements and innovations that help in minimizing the effects on the environment and society due to its operations.
Furthermore, the Company strives to create social and environmental awareness among the staff that ultimately leads to their collective efforts to develop innovative ideas that focus on alleviating environmental and social issues faced worldwide.
CKPower’s executives and staff share the common goal of operating the business in a way in which everyone in the organization is environmentally and socially responsible in order to create sustainability for generations to come.
The resettlement village by Xayaburi Hydroelectric Power Plant
Xayaburi Hydroelectric Power Plant in the Lao PDR
Lastly, the IR Magazine, a world-class magazine on investor relations (IR) from the United Kingdom with a substantial international readership , has announced the “IR Magazine Awards 2020” and CKPower was named “Best Crisis Management Company” in the Southeast Asia Region for developing the understanding among government agencies, communities, and media about water management and the process of electricity production of the Xayaburi Hydroelectric Power Plant in the Lao PDR. This was done through site visits and guided tours of the Xayaburi Hydroelectric Power Plant in order to provide facts regarding the procedures of water and environmental management of the Plant while caring for the surrounding communities and the society at large.
All these awards and achievements received in 2020 are the pride and joy of CKPower, solidifying its place as one of the organizations with sustainable business practices and operations.