GRI 102-12, 102-40,
102-42, 102-43, 102-44

Stakeholder Engagement

Global Power Synergy Public Company Limited or GPSC recognizes the significance of stakeholder engagement with the belief that good rapports, together with every voice and suggestion from all stakeholders are valuable assets toward the goal of sustainable growth. The stakeholder management also allows the company to effectively respond to the needs of all stakeholders, avoid reputational risks or operational interruptions, and create the most out of every input.

GPSC makes sure systematic and consistent communication with stakeholders to create understandings and collect their interests to integrate with the company’s strategic decision-making and business planning.

Stakeholder Engagement Procedure

In 2020, the company, together with Glow Energy Public Company Limited, conducted a more comprehensive revision, identification, and classification of all stakeholders throughout the business chain. Furthermore, efficient and suitable processes to respond to the stakeholders’ needs and expectations were discussed in the hope of optimizing such data and feedback, as well as developing stakeholder engagement plan.

The stakeholders are divided into eight main groups, which are 1) Shareholders, 2) Investors, 3) Government Agencies and Related Organizations, 4) Employees, 5) Suppliers and Contractors, 6) Partners, 7) Customers, and 8) Community and Society.

Accordingly, methods of communication vary across types of stakeholders as detailed below.

Shareholders
Major and Minor
Engagement Channels
  • Shareholders’ Annual General Meeting
  • Various platforms such as company’s website, email, telephone, letters and others
  • Annual Company Visit Activity
  • Visits to Related Domestic and International Businesses
  • Perspective survey and Interview with representatives of shareholders
  • Investor relation activities
  • Shareholders’ meeting with equal opportunities to raise questions and vote
  • Investment information presentation through roadshows and various investor relation activities
  • Annual Report
Topics of Interest
  • Satisfying turnover, high priced stock, and high dividend yield
  • Continuous growth and business expansion
  • Transparency in business operation and effective management
  • Risk management of joint ventures and development
  • Innovation development for enhanced operation efficiency
  • Investment in renewable energy
  • Opportunities for shareholders to equally exercise their rights in annual shareholders’ meeting
  • Equal access to information
Investors
Bank- financial institutions / Debenture holders / Credit rating agencies/ Analysts
Engagement Channels
  • Shareholders’ general meeting
  • Quarterly analyst meeting
  • Investment presentation via Opportunity Day, roadshows, and other investor relation activities
  • Annual company’s on-site visit
  • Investor relation activities
  • Various platforms via the company’s website, email, telephone, letters and others
  • Perspective survey and interview with representatives of investors
  • Monetary support and services
  • ESG assessment
  • Meeting with the executive team to follow up on ongoing projects and situations
  • Publication of company’s operations in annual reports, sustainability reports, financial reports
Topics of Interest
  • Satisfying turnover, high priced stock, and high dividend yield
  • Continuous growth and business expansion exist
  • Transparency in business operation and effective management
  • Business operations concern the environment, society and corporate governance or ESG
  • Joint ventures and development to increase the efficacy of business operations
  • Disclosure of company’s performance in finance, environment and society, and corporate governance (ESG)
  • Sufficient and comprehensive information to forecast turnover
  • Accuracy of presented information in each quarter
  • Financial stability, including financial ratio, debt ratio, and debt service coverage ratio
Government Agencies and Related Institutions
Government bodies / State enterprises / Local administration organizations and agencies in charge of GPSC’s supervision and license approval
Engagement Channels
  • Business performance report and results related to that agency at the frequency determined by the authority
  • Regular participation in activities organized by the government
  • Joining the board of committees as per request by the government
  • PTT Group’s government affairs seminar
  • Perspective survey and interview with representatives from related agencies
  • Being a study/observation site for the government sector
  • Monitoring policies, rules, regulations and requirements enforced by the related agencies
  • Complete report of operation results as required by the law
  • Endorsing activities and policies introduced by the agencies
  • Various platforms such as website, email, telephone, letter, and others
  • Joining the Federation of Thai Industries as a committee member for idea contribution
  • Participating as a member of trade associations and other related power generation business
Topics of Interest
  • Acting in compliance with rules, laws, regulations, and related policies; disclosure; and submission of accurate information and reports
  • Thriving investment proportion in line with national development policy and renewable energy policy
  • Social and environmental responsibility
  • Living sustainably with communities in a shared economy
  • Safety and environment management system
  • Collaborations with government agencies
  • Company’s undertakings that help mitigate climate change issues
  • Endorsing activities introduced by the agencies
  • Strict compliance with rules and laws
  • Payments of taxes, fee, and license fees
Employees
Executives / Employees
Engagement Channels
  • Annual Employee Engagement Survey
  • Data collection and complaints through the company’s complaint mechanism via various channels
  • CEO Town Hall
  • Internal Communication in various channels
  • Perspective survey and interview with employee representatives
  • Internal welfare committee
  • Providing communication channels between GPSC, its partners and contractors through means such as the company's website, email, telephone, and others
Topics of Interest
  • Human capital development that aligns with the company’s strategic objectives
  • Quality of life, including health and safety at workplace
  • Satisfying compensation and welfare, including career opportunities and advancement
  • Fair performance assessment system
  • Job stability
  • Income stability
  • Fair treatment
  • Leadership training
  • Talent Retention
Suppliers and Contractors
Engagement Channels
  • Annual Supplier Day seminar
  • Perspective survey and interview with representatives of supplier and contractor
  • Annual supplier assessment with results and suggestions
  • Complaint channels such as the company's website, email, telephone, and others
  • Relationship building activities such as charity
Topics of Interest
  • Non-discriminatory competition
  • Collaboration for mutual sustainable growth
  • Efficient, transparent, and accountable procurement system
  • Supplier development for good practice and mutual sustainable growth
  • Compliance with agreed conditions and fair treatment
  • Clear and straightforward procurement requirements

Our Responses (for additional details of our responses, please click on the topic.)
Partners
Engagement Channels
  • Communication channels via business meetings, trade negotiations, company’s website, emails, phone calls, etc.
  • Perspective survey and interview with representatives of partners
  • Memorandum of Understanding
  • Partner relations activities
  • Hosting activities and events for partners
Topics of Interest
  • Value Chain, and creation of trust, relationship and collaboration for potential long-term business development
  • Boosting competitiveness and mutual added values
  • Business collaboration with fairness and transparency
  • Co-creation of innovation and business models that allow for new opportunities and human capital development for power generation business

Our Responses (for additional details of our responses, please click on the topic.)
Customers
Long-term and short-term customers
Engagement Channels
  • Annual customer satisfaction survey for operation improvement
  • Annual, quarterly, monthly customer relations activities such as golf tournaments, sport activities, seminars etc.
  • Monthly meeting to monitor and report on demand plan, preparation and maintenance plan, and follow-up on problem solving
  • Customer complaint channels via the company’s website, emails, phone calls, and others.
  • EnergyLens Application for real-time energy usage, usage history, including reports of monthly expense and company’s communication manuals
  • Customer meeting with the executives e.g. business meals and hospitality
  • Perspective survey and interview with representatives of customers
Topics of Interest
  • Quality product and service delivery at fair prices
  • Production and Distribution system reliability
  • Full power distribution availability
  • Prompt response to customer needs
  • Non-discriminatory treatment of all groups of customers under relevant laws and compliance
  • Convenient customer communication channels
  • Technology development for environmental impact reduction
  • Seeking new business ventures

Our Responses (for additional details of our responses, please click on the topic.)
Community and Society
Community surrounding new project sites and power plants / Local administrative agencies / NGOs / Local associations/ media (local and central)
Engagement Channels
  • An annual community satisfaction survey
  • Regular community relations activities/visits to communities and people directly and indirectly affected, including monetary and non-monetary support
  • Open house visits to the power plants
  • Public hearings to solicit people's opinions on Environmental Impact assessment (EIA) report and Code of Practice (COP)
  • Other communication channels such as the company’s website, emails, phone calls, letters, and other local media
  • Interview with representatives of community and society groups
  • Monthly meeting with related local agencies (administrations, private sector, local community) to receive suggestions and opinions
Topics of Interest
  • Social and environmental impacts reduction management
  • Business operation with consideration to safety and environment
  • Local people's understanding of the company's operation
  • Job creation, income generation and expense reduction for communities
  • Regular support or participation in community activities
  • Local employment
  • Utilizing the company's skills and knowledge for community development
  • Efficient use of resources
  • Maintaining responsible water utilization for the public sector
  • Sustainable business growth along with the communities, society, and environment, both directly and indirectly
Updated as of February 2021

The above content is prepared in accordance with the sustainability reporting standards by the Global Reporting Initiative (GRI Standards), which is validated by external parties and provides a limited level of assurance of reporting information (Limited Assurance).

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