CKPower Public Company Limited has recently received new accolades for its achievements, underscoring its commitment to sustainable business practices built on Environment, Social, and Governance (ESG) principles.
The following awards, received thus far in 2021, offer further testimony to the company’s success as a generator and provider of electricity using three types of power plants: Hydroelectric, Cogeneration, and Solar.
Firstly, CKPower, listed as “CKP” in the Stock Exchange of Thailand (SET) index, has been selected as one of 2020's new additions to the Thailand Sustainability Investment Index (THSI). In this year’s selection process, 124 registered companies made it to the list, whereas just 51 companies were nominated in 2015. This increase signals that Thai companies have become increasingly committed to the development of sustainable businesses that implement ESG principles in their operations.
During the THSI selection process, participating companies responded to sustainability questionnaires broken down into 19 categories covering economic, governance, social, and environmental aspects. The questions were phrased to assess the sustainability of each company’s operations, summarized in four main categories: policymaking; goal setting and implementation; performance evaluation; and information disclosure. To be selected as one of the Sustainability Investment Index companies, a company must score at least 50% in all aspects of the evaluation. They must also surpass the standards outlined by the SET such as Corporate Governance Reporting (CGR), performance report on net profit and stakeholder ratio, oversight on issues relating to the company’s qualifications, as well as commitment to ESG principles. The whole selection process was closely monitored by a working group from the Thai Institute of Directors (IOD) for sustainable investment in order to ensure transparency.
Moreover, a few THSI companies made it onto the SET-THSI list, which further promotes investments according to sustainable indexes that value environment, social, and governance aspects in their operations. The list is reviewed bi-annually.
Secondly, CKPower received an “Excellent” rating from the Thai Institute of Directors (IOD) for the third consecutive year, reflecting the Company’s commitment to business operations that prioritize good corporate governance, ethics and transparency towards investors and partners in accordance with the Corporate Governance Code and consistent with the expectations of both domestic and international investors.
Bangpa-in Cogeneration Power Plant
Thirdly, CKPower garnered an Asian Power Award 2020, a gratifying development for the company’s staff who are always determined to come up with new ideas and innovations that minimize the use of natural resources and reduce the adverse effects of the company’s operations on the environment and society.
Meanwhile, the Company has many more ongoing and future projects that aim to further increase the sustainability of its operations. These include reduction of water usage, waste and toxic waste management, and reduction of natural gas usage and CO2 emissions, among others.
The 2020 Asian Power Award was presented to Bangpa-in Cogeneration Power Plant for its efforts to reduce fuel consumption in the generation process. Normally two gas compressors operate simultaneously to provide the required pressure at the turbines during both peak and off-peak periods. However, during the off-peak period, when the demand for electricity is relatively low, the level of gas required to generate electricity is also low. So the Bangpa-in staff came up with a strategy to reduce energy usage during off-peak periods by using only one instead of two gas compressors. As a result, in just three months the company cut electricity consumption by 396,253 units, amounting to approximately 1 million baht in direct savings. Additional indirect benefits are less maintenance requirements, reduced consumption of spare parts, and time saving.
The “Natural Gas-Fired Power Project of the Year-Silver Award” and “Environmental Upgrade of the Year Award” are sources of pride and much-welcomed tokens of achievement for the company. They show that external agencies recognise CKPower’s dedication to improvements and innovations that help minimize impacts of its operations on the environment and society.
Furthermore, the company strives to create the social and environmental awareness among staff that drives their collective efforts to develop innovative ideas that focus on alleviating environmental and social issues faced worldwide.
CKPower’s executives and staff share a common goal of conducting business in such ways as everyone in the organisation act in environmentally- and socially-responsible ways in order to ensure sustainability for generations to come.
The resettlement village by Xayaburi Hydroelectric Power Plant
Xayaburi Hydroelectric Power Plant in the Lao PDR
Lastly, IR Magazine, a world-renowned UK-based publication focused on investor relations (IR) with a substantial international readership, named CKPower the “Best Crisis Management Company” in Southeast Asia at the “IR Magazine Awards 2020”. The award cited the company’s development of and spreading of understanding about water management among government agencies, communities, and media. It also commended the company’s electricity generation processes installed in the Xayaburi Hydroelectric Power Plant in Lao PDR. Selection of the company for the award was based on site visits and guided tours of the Xayaburi project to gather factual input regarding water and environmental management procedures at the plant and care taken for surrounding communities and society at large.
These awards and achievements received so far in 2020 are the pride and joy of CKPower, not least because they testify to its status as an organisation leading sustainable business practices and operations in Thailand.