Doing business sustainably is very important in this era because this era is facing many problems, challenges and risks. Doing business alone, focusing only on financial performance like in the past, has proven that it is definitely not sustainable.
Therefore, doing business sustainably is an important matter that many organizations, both domestic and international, have turned to give importance to. Business operations must be transparent, taking into account the environment, society, and profits, including all stakeholders involved in our business operations.
Banpu… The energy company of the future
Leading a large organization to sustainable success is certainly not easy. Leading an organization forward amidst dramatic changes requires strong leadership. Admin had the opportunity to talk to a strong female CEO of Banpu Public Company Limited, “Khun Somruedee Chaimongkol”, the latest leader of Banpu, who led the company into a transformation from a coal business to becoming an “energy company of the future”.
“The key to sustainability does not lie solely in leadership. Today’s success is rooted in the strong culture of Banpu people.”
Ms. Somruedee said that Banpu has been emphasizing sustainable business operations at the policy level for more than 15 years, focusing on taking care of 3 main issues: stakeholders, the environment, and society.
Especially when the issue of doing business sustainably has become a top priority in the eyes of investors, leading to the emergence of the concept of sustainable investment, which is an investment concept that takes into account the environmental, social and governance (ESG) performance of a business. Both domestic and international investors will use ESG principles in conjunction with the analysis of a business’s financial data to consider investing in that company.
Banpu Public Company Limited is also an organization that places importance on ESG. It has driven and developed this issue in a tangible way and has done so continuously. As a result, the company has once again reaffirmed its leadership in sustainability in 2020 by being selected as a member of the Dow Jones Sustainability Indices (DJSI) in the Emerging Markets group for the 7th consecutive year.
Banpu continues to maintain its leadership position in the Coal and Consumable Fuels industry. It has also received the highest score in the assessment of business performance based on sustainable development guidelines. This has raised Banpu’s standards every year and earned it greater recognition. Banpu has integrated ESG into its corporate strategy called Greener, Smarter and has transformed from a coal business to a diversified energy business in the Asia Pacific region.
Banpu Heart Strong corporate culture
Of course, transforming a large organization is not easy. Ms. Somruedee told us that Banpu’s challenge is how to get people working in 10 countries to follow the same goal and be committed to the same vision. Having a strong corporate culture called Banpu Heart, which consists of passion, creativity, and determination,
allows Banpu people to have a clear common goal and join forces to make changes.
Passionate
- Stepping Up to Success: Harnessing Potential and Professionalism for Continuous Success and Growth
- We can do it: Value different ideas and encourage each other to create something unexpected without hesitation.
- Agile and Transformative: Build strong teams for rapid and effective change.
- Caring and Sharing: Accepting differences and truly appreciating each other.
Innovative Creative
- Stay Ahead: Maximize Your Profits by Thinking Ahead and Acting Smarter
- Think real, do real: Invent, experiment and develop processes, products and services to be continuously better.
- Learn fast, act fast: Dare to think, dare to act, learn and grow together.
Committed, determined to stand firm
- Stick to the Right Thing: Always do the right thing.
- Empowering Networks: Building strong networks for mutual benefit and success
- Sustainable development: Social and environmental responsibility
Ms. Somruedee also said that when a strong corporate culture is combined with good governance, clear management and strategies, and simple work processes, as well as regular communication, organizational transformation is possible.
Furthermore, Banpu’s focus on sustainable business operations at
the “policy level” has led to the development of serious standards and work on this issue, both in terms of business operations with good governance and management that aims to create a balance between the economy, society and the environment, by applying both national and international principles to determine
the strategy for sustainable development, such as using the United Nations’ Sustainable Development Goals (SDGs) to determine the organization’s sustainable development issues.
Over the past 10 years, Banpu has significantly expanded its business into clean energy, clearly reflecting its investment in the Greener & Smarter strategy. The company aims to increase its investment in clean energy to more than 50% by 2025 to prepare for the challenges of the new energy world, which emphasizes decentralization of energy production and distribution, digitalization of energy management, and decarbonization.
With “Banpu Next Company Limited” as the flagship company for investment and development in clean energy and energy technology businesses, such as renewable energy power plant operations, clean energy power generation system installation services, electric vehicle design and production, production and distribution of energy storage batteries, and energy technology management systems.
Tone from the top: Overcoming the crisis with the spirit of leadership
When asked about adapting amid the COVID-19 situation, Ms. Somruedee revealed that Banpu already has businesses in China and Japan, so it has adapted before the epidemic hit Thailand. There are clear management mechanisms at both the Incident Management Team and the Crisis Management Team. Previously, there were
regular simulation exercises and serious operations according to the Business Continuity Plan. There was also a central point of communication on various issues.
For example, communication that focuses on building employee morale, such as setting up a hotline to provide psychological counseling to employees. In addition, Ms. Somruedee emphasized that when a crisis occurs, Tone from the top is very important because “Leadership” will enable the organization to overcome the crisis.
To make this happen, it doesn’t take just one CEO, but a leadership team with a unified mindset to set a plan or path for the organization to overcome the crisis.
Today, Banpu people will be instilled with the idea of “ Never normal” because nothing will ever be normal again. Therefore, we must always be prepared, not wait for a crisis to happen, and work with a strong and steady heart. Beyond resilience, when something impacts us, we have the agility to stand up higher than before and can go further than before.
Finally, the most important thing is One goal, One team. Everyone in the organization must have the same goal and go together as a team.
Ms. Somruedee concluded by saying, “In the Never Normal world, moving forward to create growth must keep up with the market, consumer behavior, and the energy trends of the future world that are changing rapidly. At the same time, we must stand firm and overcome unpredictable challenges. Banpu will move forward with a strong heart towards the future of energy for sustainability (Smarter Energy for Sustainability) in the long term.”
Video Interview with Ms. Somruedee Chaimongkol – CEO of Banpu Public Company Limited
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