Risk and Crisis Management
Guidelines for Risk Management and Internal Control
GGC has appropriate risk management and internal control guidelines, in line with international standards, namely the COSO (The Committee of Sponsoring Organization of the Treadway Commission) 2017 and ISO 31000 standards.
GGC assesses risks from the business environment with both internal and external factors that may affect the company's business operations. These risks cover corporate risks, operational risks, and emerging risks that could affect business operations over the next three to five years. GGC also establishes measures to prevent impacts and minimize the risk to an acceptable level.
|Risks from Promoting Electric Vehicles (EVs)||
Today's technological and digital developments are growing rapidly, in parallel with the growth of clean energy use. This is in line with the development direction of Thailand, in which the government promotes the usage of electric vehicles by accelerating the production of electric vehicles in Thailand within the next 5 years and becoming a base for 100% electric vehicle production in 2035. The growing trend of electric vehicles is inversely proportional to the decline in the use of biofuels in the future, prompting GGC, who operates in the biofuels sector, to look for new business opportunities to increase competitiveness and business diversity.
The government measures to promote the use of electric vehicles have a significant impact on GGC, which operates a biofuel business. The impacts are as follows:
|Risk Mitigation Measures||
GGC has implemented the following short-term and long-term risk mitigation measures: