The business sector is considered to play a crucial role in supporting Thailand to achieve Sustainable Development Goals, relying on an ecosystem that must begin with the vision of executive leaders and extend to promoting sustainable development investments. Pornanong Budsaratragoon, Secretary General, the Securities Exchange Commission of Thailand (SEC) said “The SEC is dedicated to building a capital market ecosystem that supports sustainable growth, with a focus on raising businesses’ awareness and integration of the ESG principles into their operation in line with the SDGs. We also emphasize the leadership role of company board members and senior executives in shaping the corporate value chain, and encourage investors to give more weight to responsible investments to establish a sustainable value chain and ecosystem. Additionally, we advocate for the use of new financial tools to mobilize private sector capital towards achieving the SDGs. This effort requires ongoing cooperation and support from relevant organizations, both domestically and internationally. We hope that the SDG Guidebook for Listed Companies and SDG Impact Standards will serve as a valuable resource that enhances Thai listed companies’ knowledge and understanding of the SDGs, enabling them to incorporate the principles into business operations effectively, facilitating their information disclosure in line with global best practices, and empowering them to prepare accurate and comprehensive annual reports (56-1 One Report) in line with international standards. In essence, the SDG Guidebook can help to foster trust and confidence among investors and stakeholders across the entire business value chain.”
The SDG guidebook and the SDG Impact Standards will be a tool that establishes new standards and benchmarks in conducting business, as well as helps create an environment of dedicated and sustainable business practices. Kobsak Pootrakul, Vice Chairman of the Thai Listed Companies Association emphasized that “Sustainable development in the areas of the environment and human rights is an issue that the global community continuously emphasizes, and it has become a primary concern for every country, including Thailand. All sectors in Thailand, including the government, private sector, regulatory bodies, and all relevant stakeholders, have placed importance on and jointly set this as a goal in driving the sustainability of organizations and the nation. For example, the Office of the Securities and Exchange Commission (SEC) has enhanced the disclosure of information in the annual report (56-1 One Report) to cover the environmental and human rights policies and practices of listed companies throughout the entire value chain. This has become a new standard for listed Thai companies in terms of learning, sharing experiences, comparing, and competing among themselves in the area of sustainability. It also involves incorporating the ESG (Environmental, Social, Governance) into a company’s business operations, which is a means to further develop and advance Thailand in achieving its mission of environmental preservation and global human rights protection.”
Likewise, Suphachai Chearavanont, President of the Global Compact Network Association Thailand, stated that “the Global Compact Network Thailand aims to promote a ‘Race to the Top,’ encouraging businesses to compete in doing good and being innovative. The organization collaborates with partners across various sectors to support registered companies in Thailand, especially medium and small-sized companies, throughout the Thai supply chain. They also provide transparent, efficient, and accountable public sustainability reports and actively monitor and follow up on the results of these initiatives.”
To ensure the acceleration of progress towards the Sustainable Development Goals, Renaud Meyer, UNDP Resident Representative to Thailand, emphasized “The achievement of the Sustainable Development Goals requires strong collaboration and a coordinated approach between all sectors of our societies. The government alone cannot do it alone. There is a shared responsibility between public and private sectors, between state and non-state actors. This is why UNDP is actively engaging with businesses and expects this SDG Guidebook to provide very concrete and practical suggestions for listed companies not only to align their operations to the SDGs but also be able to better quantify and account for their contribution to the achievement of the Goals. The impact measurement and management framework introduced by the Guidebook will strengthen the business case for investments aligned to the SDGs and incentivize more companies to contribute to the SDGs.”
Credit:Source link
