GRI 102-12, GRI 102-18, GRI 102-40, GRI 102-42, GRI 102-43, GRI 102-44, GRI 102-46, GRI 102-47, GRI 103-1
Sustainable Development Strategy
ThaiBev embraces King Bhumibol Adulyadej’s Sufficiency Economy Philosophy (SEP), in tandem with the Sustainable Development Goals (SDGs) of the United Nations. The Company incorporates them into its corporate guidelines to push forward its business operations in a responsible manner for society and all stakeholders.
The Sustainability Economy Philosophy framework, when put to use in business planning and operations, consists of the following 3 principles: Moderation, Reasonableness and Prudence. If the Company abides by these 3 principles with knowledge and virtue, it will be able to remain stable and sustainable through the currents of globalization and change.
- Work following one’s abilities and potential
- Avoid extremes
- Exercise financial discipline
- Assess the reasons for every action affecting stakeholders
- Create real, authentic value
- Manage risk
- Prepare for future impacts or changes
- In-depth information
- Correct understanding
- The linking together of knowledge and experience
creating business value
managing the impacts from business
caring and sharing
promoting artistic and cultural conservation
In addition to applying SEP to its business approach, ThaiBev also aims to abide by the 17 Sustainable Development Goals of the United Nations’ 2030 Agenda for Sustainable Development. Merging these two frameworks provides an approach for increasing the efficiency of many aspects of ThaiBev’s operations, and it promotes sustainable development at the domestic and international levels. These two frameworks focus on the usage of knowledge, experience, and thinking to achieve steady growth, the reduction of environmental impact, and the development of human resources. Nevertheless, any sustainable form of economic growth must be built on the foundations of reasonable business operations and appropriate risk management.
SEP and SDGs are consistent with ThaiBev’s Vision 2020, and the Company’s aim to become “a stable and sustainable leader in the beverage business in ASEAN,” focusing on participating in the building of stronger relationships with stakeholders sustainably, in lock-step with the growth of the organization.
All together, ThaiBev is confident that sustainable development strategies, built on the foundations of Sufficiency Economy Philosophy and the Sustainable Development Goals of the United Nations, will result in balanced progress for the Company throughout the value chain and promote business operations with the maximum benefit for society, the environment, and the key stakeholders of the organization.
ThaiBev’s Corporate Sustainability Development (CSD)
Committee is responsible for the consideration, planning, policymaking, and execution of sustainability development measures, so that they are consistent with the Company’s direction and strategies as determined by the Company’s Managers Committee or the Board of Managers. In addition, the Corporate Sustainability Development Working Team acts as a support for the CSD Committee. The CSD Working Team consists of representatives from various units who are assigned the following tasks: determining efficiency indices in terms of the environment, safety, and occupational hygiene; support planning and monitoring in the realm of sustainability management; maintaining constant communication with the CSD Committee; and participating in the assessment process of the Company’s sustainability. Within the assessment processthe CSD Working Team is responsible for reviewing the resulting key issues around organizational sustainability, analyzing and presenting to the CSD Committee for approval, and subsequently to the Managers Committee for final approval of the key issues surrounding sustainability.
In 2017, ThaiBev was selected for the second consecutive year with the highest scores, as a member of the DJSI Emerging Markets Group in the Dow Jones Sustainability Indices (DJSI). In addition, ThaiBev was selected as a member of the DJSI World group in the Beverages category. This recognition is evidence of the Company’s determination of outstanding sustainability development in all areas including the economy, society, and environment, with proven results rivaling leading international corporations.