Bangchak - Expanding New Horizons Beyond Petroleum Towards Sustainability
Thai petroleum giant, Bangchak, expands to new horizons towards green innovation. How does a company from the world of petroleum - known to be damaging to the environment - lead new innovations toward going green?
At a glance
Industry
Petroleum and Energy
Revenue
US$ 8.9 billion
FY 2022
Founded
1984
Key Person
Chaiwat Kovavisarach
President and CEO
Abstract
Bangchak Corporation, a leading Thai energy company, has evolved from a traditional petroleum refinery into a diversified conglomerate championing sustainability. Under the leadership of President and CEO Chaiwat Kovavisarach, the company has embraced innovative strategies to balance economic growth with environmental stewardship, positioning itself as a pioneer in renewable energy and green innovation.
This case study explores Bangchak’s strategic transformation amidst Thailand’s growing shift toward renewable energy. Guided by its 3S Strategy and the BCG Model, the company has invested in biofuels, green power, and electric vehicle infrastructure. Initiatives such as the Bangchak Initiative and Innovation Center (BiiC) and carbon reduction targets under the “BCP 316 NET” plan exemplify its commitment to sustainability. The case challenges learners to analyze how Bangchak integrates leadership, innovation, and environmental responsibility to navigate global energy transitions.
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