Management Approach   

Stakeholder Engagement ^{GRI102-21, GRI102-40, GRI102-42}

To establish extensive stakeholder engagement is a fundamental of sustainable business operation. PTT treats all stakeholders’ needs, expectations, and concerns as a matter of great importance. The company, therefore, has been constantly conducting stakeholder engagement as well as developing appropriate management approaches that enable PTT to response to both businesses’ and stakeholders’ crucial requirements effectively. 

Stakeholders refer to those who are impacted by PTT's business operation, either positive or negative way, or those who may have an influence on PTT business operation in the past, present and future. PTT has classified all stakeholders into 6 major groups as follows:

• Government Bodies  refer to policy makers or regulators, state enterprises, court of justice, independent organizations, House of Representatives and House of Senates, and international organizations.
• Community and Society  refers to communities surrounding PTT’s operation sites, general public, juveniles, educational institutions, press, local politicians and NGOs
• Investors refer to shareholders, bond holders, juristic persons and retail/individual investors, brokers and securities analyst 
• Customers refer to B2B, B2C and B2G customers 
• Suppliers and Collaboration Partners  refer to suppliers, collaboration partners and business partners
• Employees refer to and PTT’s executive officers and staff

PTT has defined the stakeholder management approach in alignment with the AA1000 Stakeholder Engagement Standard (AA1000SES) and State Enterprise Assessment Model (SE-AM), issued by State Enterprise Policy Office (SEPO). The process is as follows:

1. Gather information from Global Mega Trends, stakeholders’ expectations and concerns derived from stakeholder engagement analysis, opinions of PTT’s executives and Board of Directors as well as PTT’s business plan
2. Analyze stakeholders’ critical concerns; the consequence shows that top five issues of which stakeholders are most concerning with are 1) Compliance & Transparency 2) Brand & Trust 3) Energy Transition 4) Climate Change and 5) Health & safety. Then, identify the majority group of stakeholders who are most concerned with each issue.
3. Assign all departments whose work relates to above issues to vet through their operation and find out any gap, in order to develop appropriate strategic management approach and stakeholder relations establishment plan as well as to define effective indicators and report the progress to the Enterprise Risk Management Committee (ERMC) on quarterly basis.

Stakeholder Relations Performance  ^{GRI102-43, GRI102-44}

Click for the detail of Stakeholder Relations Performance  

Key Performances

The achievement of stakeholder management is defined by stakeholder engagement score which is targeted for ‘very good’ level (80 points). Since 2018 to 2020, the score turns out at 83 points which is apparently higher than target. The figure demonstrates that PTT has been persistently responding to overall stakeholders at high level of satisfaction standard.