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Bangchak joins the World Stage “UN Global Compact Leaders Summit 2022”

Bangchak joins the World Stage “UN Global Compact Leaders Summit 2022”Bangchak shares perspectives at the UN Global Compact Leaders Summit 2022, along with over 10,000 leading business leaders from around the world.

According to a news article from Bangchak Corporation Public Company Limited, a premium member of the Thai-Norwegian Chamber of Commerce, Gloyta Nathalang, Executive Vice President, Corporate Branding, Communication, and Sustainability Activation of Bangchak Corporation Public Company Limited, shared her perspectives at the UN Global Compact Leaders Summit 2022 following the concept “The World We Want.” This summit was organised by the Global Compact Network Thailand (GCNT), along with the Economic and Social Commission for Asia and the Pacific (UNESCAP) and UN Country Team Thailand bringing together more than 10,000 leading business leaders from around the world to drive economic growth toward Sustainable Development Goals (SDGs). Also, it aimed to address local and regional issues in ASEAN before advancing to the entire Asia-Pacific region towards the Net Zero target, encompassing three critical global issues: climate emergency, biodiversity, and social development.

Gloyta was a panellist for a session titled “SDG Ambition: Mobilising Ambitious Corporate Actions Towards the Global Goals,” along with sustainable business leaders from Malaysia, Singapore, and Indonesia, moderated by a UN Global Compact executive. She stated that Bangchak is committed to the principle of “developing sustainable business innovation in harmony with the environment and society” and addressing the sustainable development goals (SDGs). Besides, Bangchak has selected nine relevant goals starting in 2016 and reviewed their importance in 2021 by categorising the goals into two levels: “in-process” or goals related directly to business operations and “after-process,” referring to goals related to social initiatives, emphasising SDG 13 Climate Action. This year, the “Bangchak 100X Climate Action: All Hands On Deck” campaign is also launched to raise awareness and encourage everyone to take a role in addressing climate change. In addition, the executives of Bangchak Group also pledged to offset their annual emissions to become Thailand’s first “Carbon Free Management Team.” Moreover, Bangchak and 11 other organisations established Thailand’s first Carbon Markets Club to promote carbon trading to reduce GHG emissions. Nevertheless, Bangchak continues its commitment to other goals in addition to SDG 13 and the other eight goals, aware of the importance of all 17 goals to global sustainability.

Regarding the impact of COVID-19 on the company’s sustainable development and SDGs, Gloyta stated that despite the overwhelming COVID-19 effects on its 2020 performance, it was an important lesson in agility. For that reason, Bangchak embraced the concept of “Agility,” which is to adapt to all situations flexibly and quickly to survive. In addition, by adjusting and adapting business operations along with integrating digital technology and risk mitigation through business diversification for many years, Bangchak Group was able to record its best performance in 2021.

Additionally, business operations committed to SDGs has numerous benefits in other dimensions, such as receiving recognition for their sustainable leadership and the S&P Global Sustainability Award 2022 – Silver Class from S&P Global ESG (Environmental, Social, Governance & Economic) assessment. Besides, S&P Global is an organisation specialised in sustainable investment and is also the assessor of the Dow Jones Sustainability Indices (DJSI), nurturing workplace employees can take pride and be happy proven by the UN Women 2021 Thailand WEPs Awards for Gender-Inclusive and Workplace category, or its inclusion among WorkVenture’s Top 20 Companies that the new generation would like to work for in 2022.

Gloyta concluded that this was a great opportunity to exchange experiences and learn about sustainable development goals from business leaders of other ASEAN nations. What is shared is the need to set clear and realistic goals, to prioritise and understand issues at the directorial, executive, and employee levels, along with business stakeholders, whereby the UNGC provides the SDG Ambition Guide and SDG Tools for clear and measurable goals setting.

Moreover, engaging with partners, albeit governmental, private, and civil society, is equally important. Bangchak Group targets Carbon Neutrality for 2030 and Net Zero for 2050, which it cannot achieve alone. As the Leader in Energy Transition and the recognised business leader in sustainable development, Bangchak has adopted the concept of “Leading Inclusively” in engaging and directing stakeholders of all sectors towards the same goal of global sustainability to leave behind a world of beauty for future generations.

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