Corporate Sustainability Strategy
RATCH deployed sustainability principles concerning key 7 aspects of economic, social, environment and governance dimensions as specified in the company’s code of conduct and the Corporate Sustainability Policy in doing business. In 2022, the company processed information and feedback given by relevant stakeholders to push forward key strategies to achieve long-term goals that will concurrently satisfy stakeholders and support the operations.
Key aspects from stakeholders’ perspectives and needs
Sustainability Framework
Goals for material topics of Sustainability Strategy
Value for Environment
Response to Climate Change
Goals
Carbon Neutrality by 2050
- By 2030, reduce carbon intensity by 15%
- By 2025, raise renewable capacity by 25%
- By 2026, take Carbon Neutrality into consideration
Concept
- Determination to manage/ reduce greenhouse gases which will reduce pressure on business operations as RATCH is in the industry that is a primary source of greenhouse gas emissions.
- Determination to reduce carbon emissions will offer new business and fund-raising opportunities.
Value for Society
Community Engagement
Goals
Improvement of the company group’s social activities that contribute positive impacts in the national level and support SDGs by 2030
Concept
- Projects with systematic assessment process in support of the United Nations Sustainable Development Goals
- Projects that assist and improve the quality of life for local community near operating sites
Human Rights
Goals
Zero human rights violation
- Complete assessment (100%) of human rights risks involving all company’s equity-owned entities and suppliers in 2025
- Human rights impact assessment covering all rights-holder groups in 2026
- Complaint channel that accommodates all rights-holder groups established in 2026 and annual reporting to the Board of Directors
Concept
- To devise measures against basic rights violation in the workplace and in business activities that may cause negative impacts/significantly damage corporate reputation and credibility
- To monitor human rights issues material to the energy industry, domestically and internationally, from safety to labor aspects
Value for Economic
Supply Chain Management
Goals
Complete ESG audit (100%) of critical suppliers and improvement evaluation
Concept
- Establishment of a risk monitoring and assessment system, to reduce risks and impacts on the company; as well as ESG targets for suppliers based on the assessment of their risks
- Enhancement of efficiency of procurement process and supplier risk assessment system employed by the Company and subsidiaries
Customer Relationships
Goals
90% satisfaction score from all customer groups in 2026
- In 2026, customer satisfaction score at 90%
- In 2026, all customer groups covered by survey (100%)
Concept
- Diversification not only strengthens business security but also expands the customer base to reach retail customers, which demands a process to satisfy the needs and expectations of various customer groups. Satisfying customers and maintaining customer satisfaction will enable the company to retain customers and their confidence.