Case study: How B.Grimm Power promotes ethical business conduct
B.Grimm Power operates power and steam generation and sale domestically in Thailand and internationally as its core business, classifying into combined cycle power plant, solar power plant, hydropower plant, wind power plant and industrial waste power plant. B.Grimm Power is committed to conducting its business with integrity, honesty, and dignity Tweet This!, so as to build and develop the ability to work professionally and efficiently, thereby contributing to its continuous growth.
This case study is based on the 2019 Sustainability Report by B.Grimm Power published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Abstract
B.Grimm Power adheres to good corporate governance principles, transparency and accountability, as well as communication and supervision on its Code of Conduct, Anti-corruption policy and other relevant policies. In order to promote ethical business conduct B.Grimm Power took action to:
- implement a Code of Conduct
- combat corruption
- establish a whistleblowing and grievance policy and channels
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With this case study you will see:
- Which are the most important impacts (material issues) B.Grimm Power has identified;
- How B.Grimm Power proceeded with stakeholder engagement, and
- What actions were taken by B.Grimm Power to promote ethical business conduct
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What are the material issues the company has identified?
In its 2019 Sustainability Report B.Grimm Power identified a range of material issues, such as business growth, power generation efficiency, waste management, climate resilience and greenhouse gas management. Among these, promoting ethical business conduct stands out as a key material issue for B.Grimm Power.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups B.Grimm Power engages with:
To identify and prioritise material topics B.Grimm Power engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Shareholders and Investors
| · Shareholders’ meetings arrangement · Company’s operating results disclosure · Analyst meetings arrangement · Public Exposure and Road Show · Opportunity Day · Company visits arrangement · Investor Relations Contact Channel · Dissemination of information on the website · Surveys |
| Regulatory and government agencies
| · Meetings with relevant regulatory and government agencies on a regular basis · Participation in activities of regulatory and government agencies and relevant on a regular basis · Company visits · Joint activities to communicate and exchange opinions, and maintain good relationships · Occasional meetings |
| Employees
| · Communication of policy and news through meetings, activities and electronic media · Internal communication such as emails, announcements, messages/public relations photos · Meetings between executives and employees and occasional meetings · Performance appraisal · Employee engagement survey · Whistleblowing and grievances channel |
| Customers
| · Visits and meetings · Company visits · Customer satisfaction survey · Participation in activities with customers · Call Centre and SMS to customers · Customer complaints Channels |
| Business partners and suppliers
| · Business negotiation and information exchange and business advice · Mutual discussions meetings · Company visits · Cooperation and collaboration · Supplier selection and product and service procurement · Evaluation of product and service quality · Whistleblowing and grievance channel · Occasional visits |
| Creditors
| · Meetings and information exchange · Company operating results disclosure · Company visits · Occasional meetings |
| Community and Society
| · Socioeconomic survey and Public Opinions · Meetings with communities and government agencies · Organisation of social development activities · Company visits · Field trips to meet and talk with villagers or community leaders · Annual survey on economic and social state and community opinions · Communication and public relations · Whistleblowing and grievance channel |
| Media
| · Press conference · Information disclosure through website and press release · Interviews with executives · Company visits · Media visits on different occasions such as media anniversary activity |
What actions were taken by B.Grimm Power to promote ethical business conduct?
In its 2019 Sustainability Report B.Grimm Power reports that it took the following actions for promoting ethical business conduct:
- Implementing a Code of Conduct
- Grimm Power is committed to conducting its business in compliance with its Code of Conduct and uses its corporate culture of professionalism as a tool for driving employees at all levels to raise their awareness and compliance with the Code of Conduct. B.Grimm Power expects that all employees are honest, ethical, responsible, harmonious and creative, well-behaved and a good role model to foster truly qualified personnel while strictly complying with the Code of Conduct to maintain and add good value to the organisation and related stakeholders. In 2019, B.Grimm Power required employees to attend and pass 100% exams on the Code of Conduct, anti-corruption and whistleblowing via an e-Learning system, to enable employees to understand and comply with policies and procedures in order to develop and create value for the departments and the organisation.
- Combatting corruption
- Grimm Power has a strong intent and commitment to conducting its business in accordance with the principles of good corporate governance and strictly complying with the Code of Conduct and anti-corruption practices, as it believes that the implementation of such practice guidelines will be a crucial tool for its continuous success, thereby creating value and benefits to all stakeholders. B.Grimm Power recognises the importance of anti-corruption practices by fostering and encouraging employees of the company and its subsidiaries to enhance their awareness and core values of honesty, integrity, transparency, clarity, accountability, and take no actions constituting all types of fraud and corruption both directly and indirectly. B.Grimm Power has declared an intention to join the Thailand Private Sector Collective Action Coalition against Corruption (CAC) and has put in place an anti-corruption policy and related policies, risk assessment and corruption risk management, review of internal control system, communication, trainings, awareness raising for executives and employees at all levels in a continuous manner as well as regular monitoring and reporting of fraud and corruption prevention practices. Moreover, B.Grimm Power has studied and applied the United Nations Global Compact (UNGC)’s guidance on anti-corruption, environmental protection, labour standards and human rights to its operations in alignment with the organisational context as deemed appropriate.
- Establishing a whistleblowing and grievance policy and channels
- Grimm Power has established a whistleblowing and grievance policy along with whistleblowing and grievance channels, examination of wrongdoings and punishments, protection of rights of whistleblowers and concerned parties, report to relevant committees and determination of mechanism for monitoring and examining whistleblowing and grievances to ensure transparency, clarity and efficiency. The Whistleblowing unit, which is under the Corporate Sustainability Management Department, has duties to gather clues of wrongdoings, violations of the Code of Conduct, complaints/suggestions to be reported to the Corporate Governance Committee on a quarterly basis to consider and determine corrective measures for the prevention of wrongdoings and violations of rules, and other relevant regulations. B.Grimm Power encourages employees and stakeholders to take part in overseeing operations in accordance with relevant laws, rules, regulations and the Code of Conduct.
Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?
The GRI Standards addressed in this case are:
1) Disclosure 205-1 Operations assessed for risks related to corruption
2) Disclosure 205-2 Communication and training about anti-corruption policies and procedures
3) Disclosure 205-3 Confirmed incidents of corruption and actions taken
Disclosure 205-1 Operations assessed for risks related to corruption corresponds to:
- Sustainable Development Goal (SDG) 16: Peace, Justice and Strong Institutions
- Targets: 16.5
Disclosure 205-2 Communication and training about anti-corruption policies and procedures corresponds to:
- Sustainable Development Goal (SDG) 16: Peace, Justice and Strong Institutions
- Targets: 16.5
Disclosure 205-3 Confirmed incidents of corruption and actions taken corresponds to:
- Sustainable Development Goal (SDG) 16: Peace, Justice and Strong Institutions
- Targets: 16.5
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References:
1) This case study is based on published information by B.Grimm Power, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:
http://database.globalreporting.org/
2) https://www.globalreporting.org/standards/gri-standards-download-center/
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