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Tipco Asphalt PCL has clearly defined structures for sustainable development and climate governance, with the CEO “accountable for driving the directions, policies, and governance structure to drive Tipco Asphalt’s sustainability strategy” and the Sustainable Development and Corporate Governance Committee meeting “on a quarterly basis to discuss climate-related matters, and reports those to the BoD.” The Board Charter “provides additional details on roles and responsibilities of the BoD” for approving “policies, strategies, and targets related to climate change,” and the Executive Committee integrates climate risk into its ERM processes. However, we found no evidence of any policy, committee, or review process specifically governing the company’s direct or indirect lobbying activities, and the company does not disclose any oversight or alignment mechanism for lobbying in relation to its climate or sustainability objectives.
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