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Stakeholder Engagement

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

Stakeholder Engagement

Recognizing stakeholders’ participation and engagement, GPSC believes that good relationship built on trust, along with suggestions and recommendations from stakeholders, is an asset which drives US toward goal attainment and sustainable growth. Equally important is management of stakeholders which enables GPSC to respond efficiently to their needs, as well as minimize risk that may harm the business image and cause business disruption, and to create maximum benefit for stakeholders. GPSC keeps regular contact with stakeholders to ensure correct understanding of all issues of interest. Stakeholders’ opinions are integrated into the company’s decision-making process and business plans.

Stakeholder Engagement Procedure
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In 2022, a review of stakeholders’ participation and engagement was conducted which identified and prioritized key stakeholder groups relevant to GPSC’s operation across the business chain on an annual basis, as well as finding ways and means to respond effectively and appropriately to expectations and issues that stakeholders are concerned about. The findings will be useful in planning and formulating ways to improve stakeholders’ participation and engagement. GPSC divides its stakeholders into eight main groups: 1) Shareholders 2) Investors 3) Government agencies and related organizations 4) Employees 5) Suppliers and contractors 6) Partners 7) Customers 8) Communities and society. Methods of communication and engagement vary according to each group of stakeholders, as detailed below:

Shareholders
Major and Minor Shareholders
Engagement Channels
  • Annual general meeting
  • Various communication channels, e.g., website, e-mail, phone calls, letters, social media, and others
  • Annual GPSC site visit
  • Visits to businesses related to GPSC, both within and outside Thailand
  • Perspective survey of shareholder representatives to gauge representatives to gauge part of the preparation or improvement of the company's action plan, etc.
  • Shareholder relations activities
  • Opportunities for all shareholders to propose meeting agenda and candidates for directorship in Annual General Meeting
  • Roadshows and various investor relations activities
  • Annual report (56-1 One Report)
  • Opportunities for all shareholders to propose meeting agenda and candidates for directorship in Annual General Meeting
Issue of Interest
  • Good performance with share price and dividends at appropriate level
  • Constant business growth
  • Transparency and corporate governance
  • Risk management
  • Joint venture and innovation development to raise operation efficiency
  • Investment in renewable energy
  • Equal opportunities and rights for all shareholders to join Annual General Meeting
  • Equal access to information
  • Study of power business operation model based on real-time pricing and energy trading
  • Promoting knowledge on renewable energy to students
  • Reviewing and formulating a business continuity management plan in the event of the spread of Covid-19
Response
Investors
Bank- financial institutions / Debenture (bond) holders / Credit rating agencies/ Analysts
Engagement Channels
  • Providing financial support and services such as corporate loan/ project finance/ trade finance/ FX/ derivative/ debentures/ common shares/ investment banking/ occasional financial advice
  • Organizing a credit review event at least once a year
  • Annual General Meeting Quarterly analyst meetings
  • Organizing occasional Deal Roadshow / Non-Dea Roadshow activities
  • Occasional reception of feedback by mail and during various IR events
  • Disclosure of investment information (via Opportunity Day, Roadshows, and various IR activities)
  • Occasional meetings with executives to update projects and situations
  • Roadshows, both domestically and internationally, and related activities as planned
  • Annual GPSC site visit
  • Other communication channels such as website, e-mail, phone calls, letters, social media, and others.
  • Perspective survey of expectations of investor representatives as part of the preparation or improvement of the company's action plan
  • Answering ESG assessment form
  • Disclosure of the company's operations through Annual Report (Form 56-1 One Report) / Sustainability Report / Financial Statements
Issue of Interest
  • Good performance with share price and dividends at appropriate level
  • Constant business growth
  • Transparency and corporate governance
  • Business operation with environmental, social, and governance (ESG) management
  • Joint investment and innovation development that will raise operation efficiency
  • Disclosure of the company's operating results, covering financial as well as environmental, social, and governance (ESG) aspects
  • Disclosure of complete information, adequate fo business result forecast
  • Accuracy of IR Materials used for reporting quarterly business results
  • Financial stability of income and cash flow including financial ratios, debt levels, and solvency
  • Joint investment and innovation development that will raise operation efficiency
  • Debt covenant level at 2.5x financial ratios, liquidity, and solvency
  • Size and growth of entity (assets)
  • Establishing a Crisis Management Team under the Center for Covid-19 Surveillance and Situation Administration to monitor internal and external situations in conjunction with PTT Group
Response
Government Agencies and Related Institutions
Government agencies/ state enterprises/ local administrative organizations/ agencies with licensing authority
Engagement Channels
  • Operating results submitted To related government agencies at requiredintervals
  • Constant participation in government project and activities
  • Engaging with committees dealing with issues with which the government requests cooperation
  • PTT Group’s government affairs seminars
  • Perspectives survey on expectation of government agencies and related organizations as part of the preparation or improvement of the company’s action plans
  • Being a learning site in operations for the government agencies and related organizations
  • Following up on policies, rules, regulations, and requirements of regulatory /licensing agencies
  • Making complete operating reports as required by law
  • Support for the government's policies and activities
  • Communication channels between the company and government agencies such as website, phone calls, e-mail, letters, social calls, e-mail, letters, social
  • Membership inFTI to raise concerns to government agencies
  • Membership In trade organizations and the likes involved In power generation business as a channel to raise concerns to government agencie
Issue of Interest
  • Compliance with rules, regulations, laws, and good governance policies, including disclosure, submission, and reporting of accurate information
  • Alignment of investment ratio with the country's energy development policies and plans, including renewable energy
  • Social and environmental responsibility
  • Sustainable co-existence with communities
  • Good safety and environmental management
  • Collaboration with government agencies on various projects/activities
  • Formulation of strategies, plans, goals, and actions to mitigate climate change problems
  • Being a learning site In both operation and management aspects
Response
Employees
Executives / Employees
Engagement Channels
  • Annual Employee Engagement Survey
  • Records of complaints via different channels
  • Staff engagement through CEO Town Hall Meetings
  • Internal communication through various channels
  • Perspective survey on expectations of employee representatives as part of the preparation or improvement of the company's action plan
  • Welfare committee in the workplace
  • Communication channels between the company and employees such as website, phone calls, letters, e-mail, social media, and others.
Issue of Interest
  • Employees' competency development in line with the company's business strategies and directions
  • Employee well-being, occupational health, and safety at work
  • Good remuneration and welfare as well as career opportunities and advancement
  • Fair performance assessment
  • Income stability
  • Equal treatment
  • Leadership development
  • Talent retention
  • Determine urgent measures and guidelines for the prevention of Covid-19 infection to ensure the safety of all employees
Response
Suppliers and Contractors
Contractors / Delivery Agents
Engagement Channels
  • Annual Supplier Day
  • Perspective survey on expectations of representatives of suppliers and contractors as part of the preparation or improvement of the company's action plan
  • Annual supplier assessment with feedback provided to suppliers
  • Survey of suppliers' and contractors' satisfaction
  • Complaint and communication channels between the company and suppliers and contractors, via website, phone calls, letters, e-mail, social media, and others.
  • Supplier relations activities to encourage participation, such as CSR activities.
Issue of Interest
  • Fair and non-discriminatory competition
  • Relationships and cooperation to grow together
  • Efficient, transparent, and accountable policies and procurement system
  • Compliance with the conditions set forth without taking advantage of suppliers and contractors
  • Straightforward procurement rules and regulations
  • Emphasis on occupational health and safety of employees
  • Joint business development using innovative, environment-friendly technologies and clean energy in the future for sustainable growth
  • Supplier development (including contractors/ delivery agents) to mutually achieve best practices and sustainable growth
Response
Partners
Engagement Channels
  • Memorandum of Understanding of joint business operations
  • Invitations to company activities involving each partner
  • Activities co-organized with partners
  • Perspective survey on expectations of partner representatives as part of the preparation or improvement of the company's action plan
  • Communication channels through various media such as meetings, business negotiations, website, e-mail, phone calls, social media, and others.
Issue of Interest
  • Values jointly created along the value chain
  • Building trust, good relationships, and cooperation to achieve higher potential and efficiency that benefit long-term business deals
  • Higher competitive edge with higher and sustainable business value
  • Business deals based on fairness
  • Joint innovation and creation of businesses that create values for new business opportunities, as well as joint human resource development for the power generation business
Response
Customers
Long-term and short-term customers
Engagement Channels
  • Annual Customer Satisfaction & Engagement Survey
  • Monthly, quarterly, and annual customer relations activities, such as annual golf competition, sports, seminars.
  • Monthly or quarterly meetings to follow up and report demand plans, readiness plans, and maintenance plans, as well * as monitoring problem solving progress
  • Energy Lens Application to facilitate real-time monitoring of energy and * steam consumption with record tracking, as well as other functions, including monthly expense reports and communication manual
  • Perspective survey on expectations of the customer representatives as part of the preparation or improvement of the company's action plan
  • Complaint and communication channels with the customers via website, e-mail, phone calls, letters, social media, and others.
Issue of Interest
  • Compliance with the terms of the PPA, such as power supply according to the terms in the PPA, delivery of documents according to the schedule, delivery of quality products and services in accordance with the PPA, power plant control according to the terms of the contract and requirements.
  • Delivery of quality products and services meeting agreed conditions at fair prices in compliance with the regulations of ERC
  • Reliable power production and distribution system
  • Contractual availability of power distribution
  • Prompt responses to customer needs, supported by capable problem-solving team
  • Customer communication channels that are convenient and fast with easy access
  • Technology development for environmental impact reduction
  • Joint search for new business opportunities
  • Technical support team that is knowledgeable and capable of solving problems in a timely manner.
  • Customers' personal data protection equipped with cyber defense system
  • Equal treatment for all customers under applicable laws
Response
Community and Society
Communities Surrounding new project sites/ Communities surrounding power plants/ Local administrative organizations / NGOs / Local associations / Media (both central and local)
Engagement Channels
  • Organizing a tripartite committee meeting (government agencies, private companies, local communities)
  • Attending monthly meetings with relevant provinces and local authorities to publicize the company's news and information, including listening to opinions from agencies about the company
  • Supporting activities of provincial/local administrative organizations
  • Organizing meetings to clarify the operation of the power plants, seminars, and visits to the power plants, as well as publicizing the projects through online communication system
  • Community satisfaction survey by an external agency twice a year
  • Regular community relations activities/visits to communities and people with possible direct and indirect impacts, as well as promoting and supporting various community activities
  • Power plant visits by local community members (Open House)
  • Public hearings to solicit people's opinions on Environmental Impact Assessment (EIA) reports and the Code of Practice (CoP)
  • Perspective survey on expectations of representatives of communities and the society as part of the preparation or improvement of the company's action plan
  • Various channels for communication and complaints via website, e-mail, phone calls, letters, social media, local media, and others.
  • Organizing media relations activities
  • Invitation to the media to participate in the company's activities
Issue of Interest
  • Attentive social,environmental, and safety impact reduction management arising from thecompany's operations
  • Business operation with concern for safety and the environment
  • Create local people's understanding of the company's business operations and participation from the community with a clear plan
  • Job creation, income generation, and expense reduction for community people
  • Support for activities with community participation on a regular basis
  • Application of the company's knowledge, skills, and expertise to develop the communities around the power plant
  • Optimum use of resources
  • Concern for people's water consumption
  • Promoting and developing the quality of life of the community for sustainable self-reliance.
  • Provision of opportunities and promoting growth of the local economy in the area of operation through employment and use of local raw materials
  • Helping the communities and society in the wake of the Covid-19 situation
Response
Local Stakeholder Engagement Guideline
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Updated as of February 2022

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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