Stakeholder engagement collaboration is a basis of sustainable business operation. PTT focuses on all stakeholders’ needs, expectations, and recommendations. PTT continuously and collaboratively conduct stakeholder engagement, as well as developing management approaches, in order to address both businesses’ and stakeholders’ needs effectively.
Stakeholders are defined as those impacted by PTT's business, either positive or negative impacts following PTT business’ operations. PTT classifies the organization's stakeholders into 6 groups, as follows:
- Country (public agencies, policy makers, opinion leaders, private organizations, and politicians)
- Community and Society (communities, the general public, youths, education institutions, NGOs, press, and local politicians)
- Shareholders (shareholders, investors, entities, and institutions investing in the stock exchange)
- Customers (industrial customers, and consumers)
- Suppliers (suppliers, deliverers, and business partners)
- Employees (PTT Group employees)
The stakeholder management approach is in accordance with the AA1000 Stakeholder Engagement Standard (AA1000SES) by using information from stakeholder engagement activities, issue management, grievance mechanisms and researches. With aforementioned information, PTT is able to identify stakeholder's needs, concerns and expectations. Consequently, the responsible committee coordinates with different stakeholder groups to establish appropriate measures addressing their concerns, expectations and requirements. Additionally, projects and work plan's impacts on stakeholders are assessed. As a result, key performance indicators are set and mitigation plans can be developed. Responsible units have the responsibility to directly report to the Management Committee, Corporate Governance Committee and Board of Directors.
Commitment to Stakeholders and Engagement Approach
Stakeholder: Country
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Stakeholder: Community and Society
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Stakeholder: Shareholders
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Stakeholder: Customer
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Stakeholder: Suppliers
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Stakeholder: Employees
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