In order to achieve the corporate sustainability goals in accordance with the vision and mission, Thaicom must take into account to operate a business with responsibility to stakeholders and reduce the impact to economic, social and environmental dimensions. The Company has therefore established a sustainable pathway that continues to create value for economic growth while sharing values to society and the environment. With the Sustainable Development Policy, we use as a framework to promote the sustainability of the organization to show our responsibility towards economic, social, environmental dimensions. However, in 2020, the Company has revised this policy to easy communicate with stakeholders and clearly classified material under economic, social, environmental dimensions, while still adhering to the principle of good corporate governance and business ethics.
In addition, the Company also applies the Sustainable Development Guidelines based on GRI Indicators and the United Nations’ Sustainable Development Goals that related to the Company’s business operations and directions.
According to company’s Sustainable Development Policy guides the organization’s business development activities in tandem with creating a balanced economic, social, and environmental growth. The policy is grounded in good governance, transparency, health and safety standards, happy community engagement, as well as the care and conservation of natural resources and the environment. The company has set a sustainable development strategy, operating within a framework that focuses on 3 dimensions: Corporate Governance and Economic dimension, social dimension, and Environmental Dimension. These approaches align with the Sustainable Development Goals (SDGs) of the United Nations and the organization’s vision.
Stakeholders in the business’s value chain
Thaicom realizes that all stakeholders are directly or indirectly important to the company. The classification of our stakeholders is based on the impact of the Company’s business operations on each group. To ensure that the actions and responses to the expectations of all stakeholders are fair and appropriate, the Company has specified in the Business Ethics (Code of Conduct) and Good Corporate Governance Principle. The Company also encourages stakeholders to participate in the Company’s operations appropriately.
Stakeholder identification and prioritization in the business value chain
The company is dedicated to caring for stakeholders’ groups in accordance with their rights as prescribed by law, based on the principles of human rights and labor law and employment ethics. This includes supporting collaboration with company’s partners to comprehensively meet the expectations of stakeholders in the business value chain, in line with the company’s ethical standards and business code of conduct guidelines. Since 2023, the company adopted the guidelines for analyzing stakeholders according to the principles of the Stock Exchange of Thailand’s sustainability reporting.
The company employs principles to consider factors that impact the company, both positively and negatively, and conducts Stakeholders Mapping, taking into account two aspects: the influence of stakeholders and the company’s interests in each of the 8 stakeholder groups. These groups include
1. Customers, 2. Shareholders, 3. Employees, 4. Business partners, 5. Government and regulatory agencies, 6. Creditors, 7. Suppliers (product delivery), and 8. Social and community groups.
Materiality Identification :
To identify materiality issues, considering key sustainability issues related to both internal and external business operations throughout 2023 by taking into consideration the company’s risks and stakeholder expectations as well as sustainability trends, sector indicators, peers and directions in the Technology and telecommunication industry. The process has been carried out by following the assessment procedures on key issues as follows:
Materiality Assessment :
- Identify key sustainability issues based on its goals, business plans, and the business value chain. This consideration aligns with the direction of global sustainable development goals (SDGs) and sustainability indicators at both national and global levels relevant to the technology and telecommunications industry. This includes frameworks such as the Global Reporting Initiatives (GRI), Sustainability Accounting Standards Board (SASB), and ESG Metrics (recommended by SET). The aim is to ensure comprehensive coverage across corporate governance and the economy, as well as social and environmental dimensions. This also involves considering human rights from a multidimensional perspective.
- Develop Materiality Assessment: Considering the positive and negative impacts based on the results obtained from the assessment, the company evaluates key issues that affect stakeholders.
- Prioritize significance of impacts from its stakeholder engagement by choosing the highest impact level as representative of impact level of each material issues.
Reporting and Assessment endorsement: The results of the sustainability issues assessment and prioritization will be reported to the Sustainability Development Committee (SDCOM) of the company for review and approval of the risk and opportunity assessment results related to sustainability issues impacting the economy, environment, society, and human rights of stakeholders. This aims to formulate organizational-level sustainability strategies and goals.
Materiality Issues (GRI3-1)
As such, the Sustainable Development Committee has reviewed and presented key business issues for consideration and approval at the 2/2023 Sustainable Development Committee meeting. The approved issues guided sustainable development goals and global objectives for the fiscal year 2023. This took place on December 19, 2023, with considerations given to economic, social, and environmental contexts that impact the attitudes and behaviors of stakeholders. The review encompassed the implementation of corporate governance principles and human rights. There were a total of 14 issues discussed in the year 2023 as follows:
Thaicom Public Company Limited has been conducting plans to reduce the greenhouse gas emissions, covering scope 1 Direct emissions and scope 2 Indirect emissions. The goal is to reduce the organization’s greenhouse gas emissions by 30% within 2030 from the base year of 2023 which, emitted greenhouse gas emissions of 2,703 metric tons of carbon dioxide equivalent (scope 1+2) and Set the goal to achieve carbon neutrality within 2050. Click here for Carbon Footprint for Organization Certificate 2023
Related Document
Sustainability Report 2020
(File size 4.39 MB)