CSR Policy
Sivarom Real Estate Public Company Limited (“the Company”) conducts its business under the principles of good corporate governance with transparency and accountability. The Company is committed to developing its business while maintaining a balance among economic, social, and environmental aspects. The Company is determined to maintain its position as a good corporate citizen by conducting its business in a sustainable manner and managing its operations to achieve stable growth and social acceptance based on ethics and the principles of good corporate governance. The Company also aims to generate returns for its shareholders efficiently while taking into consideration the impacts of its business operations on all stakeholders in every aspect.
Recognizing its responsibilities toward society, the Company has established policies relating to corporate social responsibility in various areas as follows:
1. Fairness in Doing Business
The Company has set a guideline in treating stakeholders in the Code of Conduct and Business Ethics that concerns responsibilities to all stakeholders i.e., shareholders, employees, customers, suppliers/creditors, contractual parties, communities, society and environment. Moreover, the Company encourages free trade and fair competition and refrains from any action with a potential conflict of interest and intellectual property right infringement including corruption of all kinds. Details are as follow:
(1) Corporate Governance
The Company has a commitment to righteous, honest, fair, transparent and accountable business conduct as well as disclosure of important information. The Company takes into consideration interests of and impacts to shareholders, customers, suppliers, employees and all stakeholders as well as shares the interests properly and fairly.
(2) Corporate Social Responsibility
The Company imposed a policy on CSR under ethical principles to promote fairness for all stakeholders. Moreover, the Company adopted good corporate governance principles as a guideline to maintain a good balance in conducting its business for all aspects including economy, community, society and environment in order to achieve a sustainable success in business development.
(3) Compliance with Laws, Rules and Regulations
The Company gives high priority to its compliance with laws and regulations related to environment, occupational health and safety at local, national and regional levels. The Company complies with international business ethics by requiring directors, executives, employees to conform to laws, rules and regulations and avoids any involvement, assistance or action that violates related laws, rules and regulations.
(4) Compliance with Intellectual Property Law
The Company prohibits any action that can be considered as an infringement of intellectual property law. Directors, executives and employees are required to comply with laws, rules and regulations and avoid any involvement, assistance or action that violates laws, rules and regulations related to intellectual property.
(5) Effective Resource Management
The Company encourages directors, executives and employees at all levels in the organization to utilize resources efficiently, properly and adequately to maximum benefits. Moreover, the Company shall communicate, educate, support and raise awareness among employees including all stakeholders on resource management for the best interest of the organization.
2. Respect for Human Rights
The Company also gives importance to respect for human rights with the intention of creating equality both within and outside the organization. The Company regularly monitors and ensures that its business operations are not involved in any direct or indirect violations of human rights and freedoms. For example, the Company does not support forced labor, opposes child labor, and treats all stakeholders fairly on the basis of human dignity without discrimination. This includes treating all Company personnel equally, without discrimination based on place of origin, race, gender, age, skin color, religion, physical condition, status, family background, or any other status that is not directly related to work performance. In addition, the Company promotes the monitoring of compliance with human rights requirements within the Company and encourages adherence to human rights principles in accordance with international standards. The Company’s responsibility regarding human rights also extends to its subsidiaries, joint ventures, and business partners.
3. Fair Labor Practices
The Company has a policy to ensure that all employees work together in a happy working environment and accept one another. Employees at all levels are treated as members of the same family, without taking advantage of one another. In terms of employee care, the Company manages its human resources at every stage to achieve maximum efficiency, from recruitment and employee development to the provision of continuous training programs for employees. The Company provides fair remuneration and appropriate welfare benefits. Furthermore, the Company promotes and supports all employees in having opportunities for career advancement, learning at all levels of the organization, and developing their skills to enhance professionalism in an appropriate working environment. The Company’s policies are as follows:
(1) Remuneration and benefits for employees
The Company has a policy to provide remuneration in the form of salaries and/or bonuses that are fair and appropriate to employees’ capabilities, while promoting career stability and fair opportunities for career advancement. The Company also provides employee welfare and benefits in accordance with legal requirements, such as social security, as well as additional benefits beyond those required by law, including health and accident insurance and various forms of employee assistance, such as funeral assistance in the event of the death of an employee’s parent or child.
(2) Knowledge development and training
The Company has a policy to promote human resource development by encouraging employees to develop their knowledge, capabilities, and potential, as well as to cultivate positive attitudes, morality, ethics, and teamwork. In addition, the Company supports organizational and human resource development by emphasizing efficient work processes, clearly defining employees’ roles and responsibilities, providing appropriate remuneration, and developing performance assessment systems and employee competencies.
(3) Safety and Occupational Health Policy
The Company has set a policy that encourages employees to work safely and have good workplace hygiene. The Company focuses on preventing accidents that may occur and encourages employees to have a sense of safety as well as provides knowledge through training to educate them on such matters as fire protection, the correct use of machinery and white factory activities. The Company also encourages employees to have good health and not to do anything that is harmful to the health of customers or clients while continuously maintaining healthy and safe workplace.
4. Responsibilities for Customers and Consumers
The Company places great importance on the highest level of customer satisfaction. Customers include those who purchase products and services from the Company, as well as consumers who use the products and services produced by the Company. The Company is committed to providing products and services of quality, at fair prices, and with responsibility toward customers and consumers, based on the following practices:
1. The Company is committed to continuously developing its products and services to provide comprehensive services, prompt service, and quality in order to meet the needs of customers and consumers. Company Personnel shall dedicate their efforts to fully satisfying the needs of customers and consumers by providing products and services at reasonable prices, in a timely manner, with quality, without restricting consumers’ rights, and under fair conditions for consumers.
2. The Company shall not engage in any act that deceives or misleads customers or consumers regarding the quality of the Company’s products and services.
3. The Company is committed to enhancing the safety of the use of its products and services. Consumer safety is of utmost importance. The Company shall provide warning signs, conduct safety inspections within its business premises, and continuously carry out campaigns and training programs for employees on consumer safety in a strict and ongoing manner.
5. Environmental Preservation
The Company places importance on the assessment of environmental and safety risks and impacts throughout all stages of its business operations, including the efficient utilization of resources and energy conservation in accordance with internationally recognized principles.
6. Community and Society Development
The Company set forth a policy to carry out its business that benefits economy and society and holds firmly to good corporate citizenship and strict compliance with laws and related regulations. The Company shall dedicate itself to developing and enhancing quality of living of people in the society and community where the Company is located in parallel with the Company’s growth.
Furthermore, the Company has a policy to take care of and tighten relationship with communities nearby as well as regularly supports activities of the community. Various projects are undertaken considering suitability and benefits to the community and the society for sustainable development. Employees also support and participate in community activities on a regular basis.
7. Social and Environmental Reporting
The Company will disclose information on its corporate social responsibility practices in accordance with relevant guidelines, in order to benefit all stakeholders. This includes preparing and publishing reports on social and environmental performance, covering business operations, environmental and safety aspects, and social responsibility. The Company also ensures that all information is accurate and provides multiple communication channels so that stakeholders can access the information conveniently.