Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Banpu appears to have largely negative engagement with climate change policy and regulations, with very limited overall engagement. While the company has issued broad top-line support for action on climate change, it appears to support a continued role for coal and fossil gas in the energy mix. Evidence for this entity has also been collected through one of Banpu’s wholly owned subsidiaries, Centennial Coal, based in Australia.
Top-line Messaging on Climate Policy: Banpu appears to have broadly supportive, albeit limited, top-line communications on climate change. In its 2021 Sustainability Report, published in May 2022, Banpu appeared to communicate support for emissions reductions to prevent further global temperature increases. However, it is unclear whether the company supports emissions reductions in line with IPCC recommendations. In the same report, Banpu communicated an unclear position on the need for government regulation to respond to climate change, stating that "strict regulations" are the global agenda, without providing a clear position on whether it supported regulation.
Engagement with Climate-Related Regulations: InfluenceMap was unable to find any evidence of Banpu’s engagement on specific items of climate-related regulations. Banpu does not transparently disclose its climate policy positions in its 2021 Sustainability Report, or on its corporate website, and since 2019 its CDP responses appear to be non-public.
Positioning on Energy Transition: Banpu appears to support a sustained role for fossil fuels in the energy mix, contrary to IPCC guidance. In its 2021 Annual Report, published in March 2022, Banpu appeared to issue support for the continued role of coal in the energy mix, emphasizing the need for depleted coal reserves to be replaced with new reserves. Additionally, as reported in a November 2022 Daily Telegraph article, Centennial Coal CEO, Craig Gillard, opposed the early retirement of coal assets, stressing that New South Wales will be in “serious trouble” if Origin Energy proceeds with plans to close the Eraring power station seven years early. In a January 2023 Bangkok Post article, Banpu CEO Somruedee Chaimongkol also stated support for fossil gas as a “bridge” between fossil and renewable fuels
Industry Association Governance: As of January 2023, Banpu does not appear to transparently disclose its industry association memberships in any of its publications or on its corporate website. However, Centennial Coal is a member of the NSW Minerals Council, which has engaged in obstructive lobbying on climate change policy in Australia in the past.