BUSINESS OPERATION AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL REPORTS AND FINANCIAL STATEMENTS APPENDIX objectives and goals. In addition, GC commits in driving long-term sustainable business practices by balancing its focus among the environment, society, and corporate governance (ESG), while integrating the Circular Economy principles in accordance with the Sustainable Development Goals (SDGs) framework. In 2021, GC committed and provided clear pathway to improving people’s quality of life through transformation to low carbon business with the goal of reducing net greenhouse gas emissions to zero (Net Zero) by 2050. GC’s corporate structure is grouped into business units and functions that best support efficient business operations and good governance. This structure embedded with checks and balances principal, in which duties and responsibilities were delegated appropriately. Furthermore, all employees acknowledge their roles, authorities, responsibilities, and accountabilities. GC specifies the qualifications for all positions, which form the basis of recruitment and personnel development aligned with corporate culture. Succession plans are in place for key management positions to ensure business continuity. The performance-management and fair-reward systems are in place including encourage regularly update, monitor performance targets quarterly. The performance target also can be considered and reviewed to be more measurable and achievable. GC implements 360-degree evaluation—a tool to evaluate employee’s behavioral attributes against GC SPIRIT 4 Core Behaviors by supervisors, subordinates, peers, and outside stakeholders. This evaluation is also part of the annual performance evaluation. GC aims to be the learning organization by encouraging all employees to enhance their capabilities and knowledges through the e-Learning platform “UP” that contains various contents and be simply accessible. In 2021, GC established mandatory courses for employee such as Cyber Security and Data Science & Engineering program to enhance the employee’s skills, in addition, it organized the “Speed Drive with Challenge Status Quo” program to promote the corporate culture to be ready for the business transformation. GC establishes the Internal Control Policy that all employees are accountable for their internal control activities and consistently communicates with executives and employees through training courses, public communication, and other activities to ensure accurate understanding of everyone’s roles and responsibilities in relation to the internal control system. In addition, GC implements Three Lines Model regarded as an international framework for governance and define role which consists of the owners of job functions acted as the first line of defense to comply with the defined policies and guidelines, with Internal Control System, Corporate Risk Management, Corporate Governance and Corporate Compliance, together with other support divisions as the second line of defense, responsible for consulting and facilitating of other functions so as to bring their operations up to the established standard, and with Internal Audit Functions as the third l ine of defense, evaluate and provide independent opinions o n the adequacy and effectiveness of internal controls as well as strengthen corporate governance and risk management. GC applies Governanc e , Risk Management & Internal Control and Compliance principle (GRC) in the Company’s business process to ensure efficient and effective operations. The Company appoints GRC personnel to major business unit to strengthen and ensure GRC integration. GRC principle is also deployed to subsidiaries through GRC committees to govern, review, mon i tor, and assess GRC performance. Additiona l ly, GRC Health Check questionnaire is annually conducted to assess the understanding and compliance of employees. This PROMPTLY PROVIDE GRC INFORMATION TO ALL EMPLOYEES ALL THE TIME “NongTemJai” 199
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