CKPower reveals 5-year strategic plan toward sustainability makes Thaipat’s ESG100 list for two years straight
Stands out as Thaipat’s pick for 2023 ESG100 out of over 800 listed companies
Bangkok, 10 July 2023 – CK Power Public Company Limited or CKPower (SET: CKP), one of the largest renewables-based electricity producers with one of the lowest carbon footprints in the region, has been selected by Thaipat Institute for its ESG100 list (Environmental, Social and Governance) for the second consecutive year. ESG100 is considered Thailand’s capital market’s key index ranking listed companies based on their sustainability performance.
Mr. Thanawat Trivisvavet, Managing Director, CK Power PLC, said, “CKPower is aware of the importance of operating sustainably under good governance. We have been working continuously to develop our strategic plan and determine our sustainability vision that reflects our performance in terms of risk taking, competitiveness and stakeholders’ acceptance as we go on our important mission to become one of the largest renewables-based electricity producers in Thailand and ASEAN while keeping an ecological and environmental balance as well as promoting social and community well-being.”
“From that commitment, we’ve integrated ESG concept into our 5-year plan to achieve sustainability goal (2022-2026) under our principal three main strategies: labelled “C-K-P” comprising
1. C - Clean Electricity (Environment) for which we will be operating using environmentally friendly technologies and innovations to achieve a balance between preserving the environment and rebuilding the eco system and biodiversity while maintaining our capabilities to ensure stable production of electricity 2. K - Kind Neighbor (Social) We will work with a strong sense of responsibility to improve the quality-of-life, create value for communities, society as well as direct and indirect stakeholders all while respecting universal human rights throughout the entire business value chain, and 3. P - Partnership for Life (Governance) We are looking to enhance our capabilities to cope with challenges and to ensure sustainable growth through our investment in new business opportunities in Thailand and ASEAN by employing innovations and technologies efficiently and productively to protect national and regional energy security as well as generating good and fair return on investment for customers and shareholders”, said Mr. Thanawat.
“It’s a cause for celebration that our performance has had a proud consequence given an evaluation by Thaipat Institute, where CK Power PLC has been picked as one of ESG100 companies in 2023 in the energy and utilities sector. It’s the second consecutive year (2022-2023) that we achieved the feat. They picked us out of 888 listed companies. As for the criteria used in the evaluation, they use ESG analysis coupled with financial data to evaluate our ESG-related as well as financial performances as our growth is on an upward trend as we move toward Net Zero Emissions 2050,” said Mr. Thanawat.
Dr. Pipat Yodprudtikan, Chairman, Thaipat Institute, said, “We congratulate CKPower on their selection to the ESG100 list as one of only eight firms in the energy and utilities sector where a total of 67 companies are listed on the Stock Market of Thailand. It’s a testament to the company’s consistently outstanding ESG performance. They have conducted studies to create added value for concerned stakeholders through REC system (Renewable Energy Certificate) as a mechanism to combat climate change and achieve SDG 7 goal of providing access to affordable and clean energy.”
CKPower aims to increase its installed capacity to 4,800 megawatts by 2024, of which 95% will be based on renewables, from the current installed capacity 3,627 megawatts, of which 93% is based on renewables. All of its new installed capacity will come from renewables, including solar, water and wind energy. Also, all of its new investments will use renewables to generate electricity.
In March 2023, CK Power PLC maintained its A rating with “Stable” tendency from TRIS Rating, reflecting the rating agency’s forecast that CKPower’s power plants will be able to operate as planned, ensuring a stable cash flow from the investments.