Risk Factors GC is aware of both internal and external risk factors that may impact the business and has established risk management measures to mitigate potential effects and ensure that it is able to achieve its strategic goals. Corporate risk factors are categorized into three groups, as summarized in the table below. Business-as-Usual Risk Risk Factor Key Risk Management Measures Operational and Safety Risk As GC’s core business is in largescale chemical plants and refineries, occupat ional heal th and safety, operational regulations and standards, a plant’s production stability, as well as energy efficiency and production costs per unit are all key factors in its business operation that impact its competitiveness. GC is committed to enhancing its operational excellence with the goal of placing itself in the 1st quartile in terms of the safety and production stability of its plants to ensure reliability and continuity and prevent unplanned shutdowns. Improve Process Safety Management (PSM) to meet international standards by requiring safety risk assessment using Bowtie assessment and Bowtie barrier validation; by monitoring PSM leading indicators on a regular basis to verify the readiness of major accident prevention and control systems in all plants; as well as by undertaking production safety management assessments by internal and external assessors. Establish standards and encourage personnel to utilize field risk assessment (FRA) tools to indicate dangers as well as assess and manage risks in work processes in accordance with the risk identification and risk treatment procedures; and monitor, examine, and oversee compliance with standards. Utilize digital technology to enhance the management and monitoring of machine reliability and integrity. Monitor the production stability of the plants, conduct benchmarking analysis, and implement production efficiency optimization projects, while ensuring regular monitoring of project progress. Promote the B-CAREs safety culture and operational discipline among employees and contractors and emphasize strict and robust implementation of measures at the work site through operators, such as Effective Toolbox Talks, Management Safety Walks, and the Felt Leadership Program, which are aimed at encouraging managers and supervisors to serve as safety role models to ensure that employees at all levels can correctly follow the operating procedures, with the Total Recordable Injury Rate (TRIR) included in the corporate and individual KPIs of employees at all levels across the organization. Monitor policy directions related to changes in laws, regulations, and standards that may impact plant operations, and implement mitigation measures accordingly, as well as participate in discussions with relevant agencies regarding the drafting of laws on controlling the release of volatile organic compounds from industrial plants as a representative of the Federation of Thai Industries. 88
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