CORPORATE GOVERNANCE POLICY GC, under the supervision of the Board of Directors, is committed to maintaining its corporate governance standard in conformity with international standards since its establishment in 2011. To this end, Corporate Governance Policy has been established as part of the Business Operations Policy. The Corporate Governance and Sustainability Committee has been assigned to oversee relevant matters and ensure that GC’s corporate governance practices meet international standards, align with the Company’s business strategies and directions, and comply with any other requirements, laws and guidelines. The Board of Directors is also responsible for monitoring and assessing corporate governance performance on a yearly basis through meetings of each Sub-committee. The assessment results are regularly reported to the board. OVERVIEW OF CORPORATE GOVERNANCE POLICY AND PRACTICES The Board of Directors has establ ished a fair management structure that governs the relationship of the Board of Di rectors, the management and shareholders. The Board of Directors also plays an important role in formulating visions, strategies, policies and important projects, ensuring that there are effective monitoring/assessing scheme, and risk management systems, in addition to maintaining its independence and accountability for outcomes of the performance of its duties pursuant to good corporate governance principles, with the following objectives: Strengthening the management system so that it is transparent and fair to all groups of stakeholders and complies with the applicable laws, regulations, rules and requirements of the government authorities and meets international and distinct standards, wh i ch wi l l he lp enhance the Company ’ s competitiveness and help the Company prevent and eliminate any potential conflicts of interest. Building confidence among investors and the general public both in Thailand and overseas and taking part in increasing the value of our shares in order to protect the Company’s interests while taking into consideration the interests, rights and equal i ty of the shareholders and relevant stakeholders. Serving as assessment tools for the Company’s performance and inspecting the operation in order to improve, rectify and ensure a more effective operation. Determining the scope of responsibilities of the Board of Directors and Executives towards all stakeholders, including creating commitment of the management to ensure that their performance is within the determined scope of authority. In this connection, the Board of Directors has established a Corporate Governance Policy as operational guidelines for all of the GC Group’s Directors, Executives and employees by adhering to both domest ic and international practices, e.g., the Stock Exchange of Thailand’s Principles of Good Corporate Governance for Listed Companies 2012 (SET’s CG Guidelines), the Corporate Governance Code for Listed Companies 2017 of the Securities and Exchange Commission (SEC’s CG Code), the ASEAN Corporate Governance Scorecard (ACGS), the Dow Jones Sustainability indices (DJSI), etc. Moreover, the Board of Directors is determined to continuously improve the Company’s corporate governance in accordance with international standards which include taking into consideration the shareholder’s rights, equitable treatment of shareholders, emphasizing the roles of stakeholders, information disclosure and transparency and accountability of the Board of Directors. THE COMPANY’S KEY CORPORATE GOVERNANCE PRINCIPLES ARE C R E A T E CREATION OF LONG-TERM VALUE RESPONSIBILITY EQUITABLE TREATMENT ACCOUNTABILITY TRANSPARENCY ETHICS (C R E A T E) These principles have been adopted by the Company as guidelines to ensure that our operation complies with the applicable laws and regulations of every country in which we operate. The Board of Directors and Executives serve as ethical leaders and role models in 116 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
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