“The Big Bang.“
Energy with a social conscience.
Bangchak Corporation Public Company Limited (BCP) was established in 1984 in Bangkok, Thailand. BCP is a Thai energy company engaging in business alongside social and environmental stewardship, which aims to enhance national energy security with innovation-oriented businesses. This goal is to strengthen business continuity and develop sustainability for the organization and the Thai society.
Currently, BCP covers five main businesses from upstream to downstream, along with the Bangchak Initiative and Innovation Center. These five businesses include refinery and trading, marketing, bio-based products, green power business, and natural resources. The company invests in the core businesses domestically and internationally with the aim of creating energy stability for the nation and to drive business with innovation.
True to the Company’s vision of “Evolving Greenovation – To be the Leading Asian Greenovation Group, founded on Good Corporate governance, through Inclusiveness and Sustainability”, BCP has put into place what they term as their 3S Corporate Strategy (Security, Stability and Sustainability). This strategy is what conducts their business direction, from creating energy security for the nation, managing portfolio growth for consistent returns and developing business in a sustainable way.
To support their 3S Strategy, BCP has also employed their 4 Green Sustainability Strategy. These include Green Business (focusing on responsible and sustainable investments by bringing green technology to their business operations), Green Production (enhancing Environmental Management and Process Safety Management), Greenovative Experience (creating innovative, sustainable and green experiences for the public at service stations) and Green Society (developing social and environmental projects that improve quality of life for SMEs and farmers).
The 4 Green Sustainability Strategy has been at the heart of BCP’s core competencies since the company’s establishment in 1984. They have prided themselves as an active player in promoting the sustainability of Thailand’s energy security and strengthening Thai society as a whole. Some of their major milestones include being the pioneers of renewable energy in Thailand, being the first brand to introduce Gasohol and Biodiesel to the Thai market, as well as working with government policy makers to increase Thailand’s strategic position as a renewable energy hub for Southeast Asia, most recently seen in the statewide implementation of B10 usage.
Being in the energy business, environmental impacts weigh heavily on BCP. Since climate change is a significant environmental issue for oil and gas companies, including BCP, the company sets the net CO2 emission of the Bangchak Group as an annual corporate Key Performance Indicator (KPI) in order to reduce CO2 emission of the company through GHG emissions reduction projects and carbon offsets. In addition, being a carbon neutral company by 2030 is set to be a long-term target.
In addition, BCP has been in compliance with ISO 50001 for energy management system since 2014. In 2020, the company implemented Continuous Catalytic Regeneration Unit (CCRU), which is energy efficiency management, resulting in the decrease of overall energy consumption. The energy giant also incorporates the latest Artificial Intelligence technology, together with people development, to increase business performance.
BCP has also implemented stringent waste management practices to comply with waste-related regulations and uses 3R management principles to reduce environmental impacts from waste disposal. It also focuses on minimizing waste to landfill. In 2020, the company achieved zero waste to landfill target and were able to make use of 99.9% of the total waste generated.
On the consumer front, BCP is committed to develop sustainable products and services related to green innovation and technology for products and services in Bangchak service stations under the concept of Evolving Greenovative Experience. The company is set to be the “Most Admired Brand” of gas stations using the ‘Net Promoter Score’ as the KPI.
“As dominant market players, BCP shows remarkable humility of leadership and execution of strategic planning both in its organizational goals, as well as its green strategies.”
Shanggari Balakrishnan, Chief Executive Officer, MORS Group