Bangchak Corporation Public Company Ltd: Best Sustainable Innovation Strategy Thailand 2021

Over nearly four decades, Bangchak Corporation Public Company Limited (BCP) has been contributing to Thai socio-economic development through five core divisions: petroleum refinery and trading, marketing, bio-based products, green power and natural resource business development. BCP aims to lead the vanguard of Asia’s transition to a greener future. It has applied strict corporate governance criteria across operations to build a sustainable business model and an inclusive workplace. It has also created long-term value for stakeholders. BCP was the first company in Thailand to receive ISO 50001:2018 certification, and the first oil refinery to be certified by the Water Footprint programme. In 2019, BCP cut water consumption by 31 percent. It off-sets thousands of tons of CO2, continuously improves energy and waste efficiencies, and plans to become carbon-neutral by 2030. It has enhanced fossil fuel production and developed bio-based alternatives to meet growing national energy demands. BCP also generates and distributes clean energy from solar, wind, water and geothermal power projects in Thailand, Japan, the Philippines, Indonesia and Laos. Plastic waste is tackled with circular economy solutions at its 1,200 service stations. The group is powered by a team 1,250-strong and a corporate “3S” strategy that priorities security, stability and sustainability. The CFI.co judging panel recognises a company striving to overcome environmental challenges. Bangchak Corporation Public Company Ltd wins the 2021 award for Best Sustainable Innovation Strategy (Thailand).