{"id":2441,"date":"2018-03-23T17:18:54","date_gmt":"2018-03-23T13:18:54","guid":{"rendered":"https:\/\/sustainablesquare.com\/?p=2441"},"modified":"2022-02-09T08:28:53","modified_gmt":"2022-02-09T08:28:53","slug":"environmental-social-performance-50-largest-thai-companies","status":"publish","type":"post","link":"https:\/\/sustainablesquare.com\/wp.old\/environmental-social-performance-50-largest-thai-companies\/","title":{"rendered":"LESSONS FROM TOP 50 THAI COMPANIES IN ENVIRONMENTAL AND SOCIAL PERFORMANCE"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\">\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Out of 50 of the largest Thai companies, more than half have disclosed their environmental and social performance for the year 2016. Many of them exhibit excellent reporting practices for policies, management systems, global coverage, quantitative data and, target-setting.<\/span><\/p>\n<\/li>\n<li style=\"font-weight: 400;\">\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Large companies are prioritizing the disclosure of environmental indicators at the expense of social performance metrics<\/span><span style=\"font-weight: 400;\">. As a result, community development strategies have the lowest reporting rate among social and environmental indicators.<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Amongst 50 of the largest companies in Thailand, <\/span><b>64%<\/b><span style=\"font-weight: 400;\"> published an official sustainability report for the year 2016 using the latest GRI guidelines. <\/span><b>36% of companies<\/b><span style=\"font-weight: 400;\"> published independent financial reports, which included the disclosure of several sustainability indicators such as rates of workplace injury, the ratio of male to female employees in the corporate management board and the adoption of a human rights policy.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>In respect of environmental performance<\/strong>, <\/span><b>53% of companies<\/b><span style=\"font-weight: 400;\"> are incorporating important environmental indicators that measure emissions, energy and waste. Corporate commitment to social performance (health and safety, workforce, human rights and community strategy) has a slightly lower disclosure rate with around <\/span><b>50% <\/b><span style=\"font-weight: 400;\">of<\/span><b> companies<\/b><span style=\"font-weight: 400;\"> reporting in these areas. <\/span><\/p>\n<p style=\"text-align: justify;\"><b>In the area of environmental practices,<\/b><span style=\"font-weight: 400;\"> Thai companies are demonstrating their commitment not only through quantitative disclosure but also through their management policies and targets. \u00a0<\/span><a href=\"https:\/\/www.kasikornbank.com\/en\/personal\"><span style=\"font-weight: 400;\">Kasikorn Bank<\/span><\/a><span style=\"font-weight: 400;\"> (KBank), for example, aims to reduce their operational emissions by 20 &#8211; 25% (based on 2012 baseline) by 2020. A chief Environmental Officer was appointed to oversee environmental projects. The target is the bank\u2019s strategic support to Thai government\u2019s pledge in 21st Conference of the Parties (COP) of reducing GHG emissions by 20-25% by 2030. First milestone in a 5-year road map was achieved in 2016 when the Kasikorn Business Technology Group premises was certified by the United States Green Building Council.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Industries like energy and utilities, construction, food &amp; beverage, chemicals and financial firms tend to outperform companies in the health and transportation and logistics sector. In fact, most large Thai banks are activating their role in the battle of climate change by financing renewable energy projects. Healthcare companies, in contrast, have shown slow uptake in sustainability reporting. \u00a0<\/span><a href=\"http:\/\/www.who.int\/mediacentre\/factsheets\/fs253\/en\/\"><span style=\"font-weight: 400;\">World Health Organization<\/span><\/a><span style=\"font-weight: 400;\"> revealed that 15% of waste and by-product that healthcare companies generate are <\/span><span style=\"font-weight: 400;\">considered hazardous material<\/span><span style=\"font-weight: 400;\">. As th<\/span><span style=\"font-weight: 400;\">ey may be infectious, toxic or radioactive, medical waste disposal needs special treatment. However, waste disposal and other environmental practices from the largest Thai healthcare companies were not disclosed.<\/span><\/p>\n<p style=\"text-align: justify;\"><b>I<\/b><b>n terms of social issues<\/b><span style=\"font-weight: 400;\">, reporting in human rights and health and safety policies ranges across different industries with a high disclosure rate of 55%. The regulation of occupational health and safety is addressed by local laws. International guidelines such as the UN Global Compact are used by companies as a benchmark to establish human right policies. To close the gap between policies and implementation, some companies are assessing their human rights practices; PTT, state-owned oil and gas company for example, demonstrated a good practice of human rights due diligence.<\/span> <span style=\"font-weight: 400;\">\u00a0The company identified 21 out of 65 of its operational sites in 23 countries as high risk areas through its human rights monitoring program in 2015-2016. Human Rights \u00a0Management System was, therefore, reformed to cover human rights risks from 6 stakeholder groups: labor, community, supply chain management, security, safety &amp; environment, and customer &amp; consumer. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Turnover indicator and gender diversity indicators share equally low reporting rates (41%), followed by community development strategies. Most large Thai companies in Thailand do implement community development programs but only <\/span><b>23 out of these 50 firms<\/b><span style=\"font-weight: 400;\"> disclose their CSR budget and refer to a holistic strategy that aligns with their core business; <\/span><a href=\"http:\/\/investor.ais.co.th\/home.html\"><span style=\"font-weight: 400;\">Advanced Info Service (AIS<\/span><\/a><span style=\"font-weight: 400;\">) is one of the few. Their community and society management approach deploys digital infrastructure to improve people\u2019s well being and supports the \u201cThai policy 4.0\u201d in driving the economic growth through innovation. For example, many Thai farmers can now focus on production as access to the market becomes easier with the \u201cFarmhug\u201d application developed by AIS.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To summarise, the majority of large companies in Thailand have covered environmental and social issues in depth and demonstrated a high standard in sustainability reporting. It comes as no surprise that the Thai Stock Exchange is the only Asian stock market to be ranked by <\/span><a href=\"http:\/\/www.corporateknights.com\/reports\/2017-world-stock-exchanges\/sustainable-stock-exchange-report-released-15064884\/\"><span style=\"font-weight: 400;\"><span style=\"color: #0000ff;\">Corporate Knights<\/span><\/span><\/a><span style=\"font-weight: 400;\"> as one of top <\/span><b>10 <\/b><span style=\"font-weight: 400;\">for the highest disclosure rate of 7 quantitative sustainability performance indicators. The Thai companies researched in this article has been updated by <\/span><a href=\"https:\/\/aseanup.com\/top-50-companies-from-thailand-set50\/\"><span style=\"font-weight: 400;\">ASEANUP<\/span><\/a><span style=\"font-weight: 400;\"> in 2016, with 14 of them being listed in the world\u2019s prestigious Dow Jones Sustainability Indices (DJSI).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">While this is a notable achievement, there are still many companies that are not disclosing on reliable and insightful information. Stock Exchange Thailand (SET) has played a critical leadership role in establishing a sustainability reporting culture for Thai companies. Having said that, there is still a lot that needs to be done by private sectors. To investigate good case practices from SET and its plans to advance the sustainability performance of Thai companies, Sustainable Square was fortunate enough to speak with <\/span><b>Nareerat Santhayati<\/b><span style=\"font-weight: 400;\"> &#8211; Deputy Vice President, Sustainability of SET in an <\/span><a href=\"https:\/\/sustainablesquare.com\/success-stories-at-thai-stock-exchange-2\/\"><span style=\"font-weight: 400;\">interview<\/span><\/a><span style=\"font-weight: 400;\"> about its initiatives and plan to promote the uptake of sustainability reporting.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Out of 50 of the largest Thai companies, more than half have disclosed their environmental and social performance for the year 2016. Many of them exhibit excellent reporting practices for policies, management systems, global coverage, quantitative data and, target-setting. Large companies are prioritizing the disclosure of environmental indicators at the expense of social performance metrics. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2486,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"cybocfi_hide_featured_image":"","footnotes":""},"categories":[64],"tags":[78,67],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LESSONS FROM TOP 50 THAI COMPANIES IN ENVIRONMENTAL AND SOCIAL PERFORMANCE - Sustainable Square<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sustainablesquare.com\/wp.old\/environmental-social-performance-50-largest-thai-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LESSONS FROM TOP 50 THAI COMPANIES IN ENVIRONMENTAL AND SOCIAL PERFORMANCE - Sustainable Square\" \/>\n<meta property=\"og:description\" content=\"Out of 50 of the largest Thai companies, more than half have disclosed their environmental and social performance for the year 2016. Many of them exhibit excellent reporting practices for policies, management systems, global coverage, quantitative data and, target-setting. Large companies are prioritizing the disclosure of environmental indicators at the expense of social performance metrics. 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Many of them exhibit excellent reporting practices for policies, management systems, global coverage, quantitative data and, target-setting. Large companies are prioritizing the disclosure of environmental indicators at the expense of social performance metrics. 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