Environmental And Social Policy

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Announcement of RATCH Group PCL's Board of Directors
No. 1/2023
Environmental and Social Policy

RATCH Group Public Company Limited has been committed to sustainable business development, to achieve continuous, solid and long-term growth. The Company is confident that the commitments to higher environmental, social and governance standards will not only keep risks manageable but also add the values of our operations that are geared towards positive impacts on society and minimized impacts on the environment. The Company aims to enhance the environmental and social management approaches, realizing the significance of environmental and social issues to the Company’s principal business. The Environmental and Social Management System (ESMS) has been applied to level up efficiency of environmental and social operation ensuring sustainable business growth and compliance with relevant national and international legislation as well as the United Nations’ Universal Declaration of Human Rights, International Labor Organizations’ Declaration, the standards or requirements of the industry and/or national and international institutions including the International Finance Corporation (IFC). The Company will constantly and thoroughly review and improve the Company’s efficiency concerning environmental and social operations, in light of significant changes to the context of its organization or business.

Scope

The Company’s Environmental and Social Policy is the framework and guidelines for business operations and the execution of all work processes and activities. The policy encompasses a feasibility study process for new projects; due diligence for mergers and acquisitions; and the assessment of key suppliers of the Company, subsidiaries and management-controlled entities in Thailand and abroad. The Company also supports and encourages joint ventures, business partners, suppliers and other relevant parties in the supply chain, in Thailand and abroad, to operate with concerns about society and environment and follow or apply the policy in their operations, as deemed appropriate.

Role and Responsibility

All executives and employees are obliged to follow this policy as appropriate in all work procedures including; identification, assessment, management, monitoring, impacts and likelihood of risks; the goals setting of environmental and social operations; and regular reporting to the Corporate Planning and Systems Development Department which is responsible for enterprise risk management as well as the Management. The Internal Audit Department is tasked to monitor the compliance with this policy. If necessary, the Company will consider the audit and certification by an external body.

Governing

This policy was approved by the Board of Directors, based on the review and endorsement by the Corporate Governance and Sustainability Committee which is tasked to oversee the operations of all aspects of sustainability encompassing environment, society and governance. The reporting on the performance of environmental and social operations is required while this policy shall be reviewed constantly and thoroughly in alignment with circumstances, legislation and applicable standards.

Guidelines

The Company sets forth the guidelines for relevant environmental and social aspects as follows:

Environmental aspects

  1. The Company fully upholds and follows national legislation and environmental standards accepted in the industry, national and international levels as well as relevant environmental management measures to ensure the compliance and performance meets the requirements.
  2. The Company’s operations emphasize the management of environmental impacts caused by the Company’s product and service production process and business activities. This entails the efficient use of resources as raw materials in the production process, energy and water; reduction of greenhouse gas emissions, air pollutants, wastewater and all types of waste; avoidance/reduction of hazardous chemicals and safe handling; and other issues significant and necessary to the business. The targets are set for environmental impact reduction along with corrective measures which at least meet legal requirements. The greenhouse gas emission reduction target is set, to achieve continuous improvement.
  3. The Company promotes and supports sustainable supply chain and the sourcing of environmental-friendly products and services as well as environmental innovations that can reduce environmental impacts and assist the Company’s and national targets on greenhouse gas emission reduction.
  4. The Company pledged to prevent deforestation and promote the conservation and rehabilitation of natural resources, forests and biodiversity, for protection and preservation of the sustainable ecological balance.

Social aspects

  1. The Company upholds and respects the legislation and principles on human rights as well as the local norms, values, traditions and cultures of the host countries where the Company invests and operates.
  2. The Company is committed to fair and equitable labor practices as stated in the international declaration on human rights and at least follow the rules /requirements of labor laws of each host country covering key relevant issues; fair and non-discriminatory employment, zero child labor, zero forced labor, zero illegal labor, and remuneration and working hours set as required by law.
  3. The Company gives importance to the safety, occupational health and work environment of employees, suppliers and stakeholders, to prevent the loss of life and property; and promotes consultation process on employees’ safety and occupational health as well as training to create an internal safety culture.
  4. The Company places concerns about community’s safety and health, by ensuring product safety and protection of community’s safety and health from the impacts caused by the Company’s project construction and demolition activities and waste.
  5. The Company promotes community engagement and emphasizes communications with community for living together as “a good neighbor”. The Company also provides a dialogue about operational performance and environmental/social issues with relevant stakeholders to meet their expectations; ensure transparent and accountable information disclosure to all stakeholder groups; and promotes knowledge on the environment, safety and health for the strengths of community and sustainable improvement of their quality of life.
  6. The Company respects the rights of indigenous people and avoids conducting business activities on the land that may lead to involuntary resettlement. If this is unavoidable, the Company prescribes compensation and remedial measures to ease the relocation impacts, taking into account legal requirements and fairness. The Company is committed to improve their quality of life and promote community engagement through supports to the preservation and restoration of their traditional culture for sustainable existence.
Compliance
  1. The Company prepares the environmental and social management system and integrates it into the operations. The system’s practicality is constantly reviewed, monitored and assessed, to further improve the efficiency of the Company’s environmental and social operations.
  2. The Company will announce and communicate this policy to executives and employees at all levels, for their acknowledgement and understanding in the Company’s environmental and social operational guidelines. Internal training will be organized to raise awareness in the impacts of environmental and social operations and bolster behavioral competency in environmental and social accountability so as to establish corporate values.
  3. The Company is set to constantly review the environmental and social performance and targets, for enhancement and improvement of operational efficiency and effective target achievement. The performance will be disclosed to stakeholders on a regular basis.
  4. The Company will follow this policy in executing environmental and social activities along with the guidelines in the Code of Conduct concerning community, society and the environment, the Corporate Sustainability Policy and the Human Rights Policy. This will ensure the comprehensive coverage of significant aspects, shared value for stakeholders and positive impacts on the environment.
  5. The Company communicates this policy to business partners, suppliers and other stakeholders in the value chain and states its intention that all stakeholder groups shall be aware of and give importance to the management of environmental and social issues as well as operate accordingly to the Company’s Environmental and Social Policy.

RATCH Group Public Company Limited is committed to enhance environmental and social operations on par with international standards. In enforcing this policy, should any part of this policy contradict local legislation, orders and requirements, the local legislation, orders and requirements shall be applied.

For the acknowledgement and compliance of all.

Announcement Date: 18 August 2023

Chairman of the Board of Director
Mr. Boonyanit Wongrakmit

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