ThaiBev manages risks by monitoring, evaluating and managing uncertainties in accordance with the ThaiBev’s enterprise risk management framework. ThaiBev identifies the key business risks and opportunities related to its continuous and sustainable growth, in order to be able to respond to challenges and mitigate impacts, and also capitalize on arising opportunities to achieve our goal of becoming the stable and sustainable total beverage leader in ASEAN.
ThaiBev’s Enterprise Risk Management Framework
Governance structure covers the level of the Board of Directors, Sustainability and Risk Management Committee, Audit Committee, Executive Committee, Corporate Sustainability Development Committee, Sustainability Development Working Team, Corporate Risk Management Working Team, Sustainability and Risk Committee of product groups or business units, and the risk coordinators of product groups or business units.
Understanding the context and strategies in conducting business with a focus on sustainable development in which all functions work closely together to understand, analyze, monitor, and communicate risk factors and significant future trends that may affect business operations or corporate strategy.
An integrated risk management process is set at the corporate level, product group or business unit level down to the operational level. Assessing key risks and establishing strategies for managing risks, including creating new business opportunities, are in line with the sustainable development strategies and initiatives of ThaiBev.
Continuous monitoring, reporting and evaluating of the results of the sustainability and risk management at all levels, from departments and subsidiary entities, product groups or business units, to the corporate level.
Creating a culture of sustainability and risk management by providing knowledge and understanding about sustainable development and risk management to the directors, executives and employees at all levels in the organization, through trainings, orientations and by disseminating knowledge, information and news via corporate newsletters. This includes arrangement of Thailand Corporate Sustainability Symposium and ThaiBev Sustainability Day which the employees are encouraged to discuss or comment on sustainability and risk management.
Key Commitments and Achievements
ThaiBev considers “Corporate Sustainability Risks” from our sustainability materiality in three aspects: environment, society and economy, on an annual basis. The corporate sustainability risk that has both a “high” level of business impact and opportunity, and a “high” level of impact and influence on stakeholders. Risk issues with medium or low impact are closely monitored by the respective committees and working groups. ThaiBev also assesses and monitors emerging risks that may occur in the next three to five years and to prepare suitable and timely risk management measures.
ThaiBev’s Key Sustainability Risk
1. Water related risk
Significant Risk Management Measures
Creating a comprehensive water management system, from the beginning to the end of the value chain.
Conduct water sustainability assessment of each production plant to determine water management guidelines.
Use water and resources for efficient business operation by adopting 3Rs (Reduce, Reuse, Recycle) principles.
2. Climate change and environmental risk
Significant Risk Management Measures
Control and reduce greenhouse gas emissions by developing technology and renewable energy projects.
Design, develop and manage packaging in the circular economy efficiently, especially plastic packaging, in order to reduce environmental impact.
Define and comply with the Sustainability Policy and the Supplier Code of Practices, which are standards of business conduct for business partners in accordance with ThaiBev.
4. Compliance risk
Significant Risk Management Measures
Monitoring important news about changes in government policies and regulations that affect business operations, including communicating with related departments within the organization when there is a tendency to enforce the law or when it is promulgated so they are able to prepare, adjust operations and perform correctly.
5. Disruptive technology and innovation risk
Significant Risk Management Measures
Establishing an IT master plan for long-term support and management of digital technology.
Innovate and develop new types of products continuously to create business diversity, meet the needs and lifestyles of consumers of all ages, at every moment.
6. Corporate reputation and image risk
Significant Risk Management Measures
Compliance with good corporate governance principles and guidelines.
ThaiBev’s production processes and products are certified by international standards for safety and quality.
Target for 2025
100%
of business entities/units
that adopt risk management
framework, tools and processes
in operations
100%
of key risk indicators
of business entities/units
100%
of the management level
performing sustainability and
risk management self-assessment
