Sustainability Strategy and Management
Policies and Sustainability Management Goals
With the vision of becoming a “Global leader of LPG Cylinder Manufacturers with Emphasis on Environmental Considerations Sustainable Growth,” the company’s management has established the direction for our business operations to enhance value, growth, and sustainable success.
In order to achieve this goal, the company recognizes the importance of considering economic, environmental, social, human rights, and stakeholder factors in its business operations. These considerations are guided by principles of ethics and good corporate governance.
Embracing the Sustainable Development philosophy, which was initiated by His Majesty the Late King Bhumibol Adulyadej and adopted by Thai people since 1974, which was living with moderation, reasonableness, and self-immunity, with the condition of ‘Knowledge with Morality’. SMPC integrates this concept into our Business Code of Conduct and company’s policies through our activities with maximum effectiveness and efficiency in mind.
Furthermore, the company has identified key sustainability issues and incorporated them into our strategic direction through a sustainability plan that aligns with the United Nations Sustainable Development Goals (SDGs). Our ‘5 Megatrends Towards Future Sustainability for SMPC’ strategy emphasizes the economic, social, and environmental dimensions, focusing on the following:
Sustainability Strategy and Supporting
the UN Sustainable Development Goals
SMPC recognizes the importance of conducting materiality assessments to identify and prioritize key sustainability issues that impact its business operations. These assessments are aligned with the principles outlined in the Global Reporting Initiative (GRI) Standards and encompass environmental, social, and corporate governance aspects. The process involves the following three steps:
1. Identifying Key Sustainability Issues
SMPC analyzes both internal and external factors to identify important sustainability issues relevant to its business operations. This analysis takes into account the sustainability context and considers the needs and expectations of stakeholders throughout the value chain, both within and outside the organization. The scope of sustainability development is determined in alignment with the company’s business strategy.
The identified important issues from step 1 are prioritized based on the opportunities they present and the severity of their impacts on economic, social, and environmental values.
3. Verification of Issues
The prioritized issues are proposed to management for review as key corporate sustainability issues. The company ensures the accuracy and completeness of these issues, covering all aspects of the economy, society, and the environment.
The company conducted a thorough review of its assessments on key sustainability issues and prioritized them by considering inputs from stakeholders and considering the influence of internal and external factors on both stakeholders and the company. Each identified issue holds significance for sustainability, encompassing dimensions of the economy, environment, and society. In 2022, the company identified several key business issues that were subsequently approved by the Board of Directors. These issues are outlined below: