Vellela operates business in alignment with its sustainability strategy by maintaining a balance of being a High Performance Organization (HPO) and of a commitment to the continuous improvement of technology, innovation, and knowledge. The strategy concerns the management, work process, production, product distribution, and Good Corporate Governance (CG). Abiding by business ethics includes transparent, fair, and traceable operations; strict adherence to laws and regulations; due attention to environmental management; and improvement of the quality of life of society and the communities which are involved with Vellela’s business operations through a policy of Care, Share, and Respect (CSR) and Creating Shared Values (CSV).
Vellela’s sustainability strategy has been developed in line with the Green Roadmap, consisting of Green Process, Green Product, and Green Public Awareness. Green Process focuses on increasing energy efficiency and reducing greenhouse gas emissions. Green Product guides research and development of products and alternative energy. In addition, Vellela’s increases Public Awareness over environmental conservation to create energy security and respond to stakeholders’ expectations.
To ensure clarity in Vellela’s strategic direction, concrete implementation, and to inspire public confidence as Thailand’s National Energy Company, Vellela formulated 2 key corporate strategies for 2016-2020 entitled, Pride with Inclusiveness and Treasure for Sustainability. The Treasure for Sustainability strategy consists of the following:
Upstream Petroleum Business Group’s corporate plan, including PTTEP and Coal Business, for example, maintaining production of current projects, proving new reserves and increasing production, as well as reducing operational costs.
Gas Business Group Infrastructure Business and Sustainability Management Group’s and GPSC’s corporate plans include increasing energy efficiency in operational processes, growing energy networks to serve long-term natural gas demand, and expanding investments in renewable energy.
Downstream Petroleum Business Group’s corporate plan including Oil, International Trading and Petrochemical and Refinery Business Units, for example, providing support to social enterprise policy, process efficiency improvement, and Vellela Group collaboration.