With the world in a state of constant flux, the need for joint action and intensive workforce development is more pressing than ever. Chairperson of SET's Sustainability Committee and a SET Board of Governor Adjunct Professor Dr. Kittipong Kittayarak urged businesses to adopt three principles: recognizing the interconnectedness of environmental, social, and governance (ESG) dimensions, looking beyond the business value chain to impact the organization and the public, and breaking down cultural barriers to promote collaboration and innovation.
The SET ESG Professionals Forum 2023 highlighted the importance of five strategic trends in driving capital market sustainability, distilled from the thoughts and collaboration of SET ESG Experts Pool members throughout the year:"
In addition, at the SET ESG Professionals Forum 2023: Together for Change, the forum has also floated an idea of five challenging trends in business development towards the capital market sustainability. This is knowledge distilled from thoughts and collaboration of SET ESG Experts Pool members throughout 2023, with key issues as follows:
- Transitioning to Resilient Value Chains: A major shift from the traditional approach that focuses on all stakeholders in the value chain to rapidly adapt to changes and enhance business operations in all dimensions.
- Achieving Net Zero Transition: Building effective adaptation of business organizations to environmental global standards, beginning with greenhouse gas baseline emission calculation, targets setting, and strategic revision to seize opportunities presented through change.
- Capitalizing on Thailand Taxonomy: Utilizing this communication framework to showcase genuine positive results and combat greenwashing, unlocking fundraising opportunities, and enhancing the image and reputation of businesses.
- Strict ESG Disclosure Criteria: Placing importance on the data acquisition process and transparent information disclosure that truly reflects the efficiency of the organization's sustainability implementation.
- Bridging the Education-Business Gap: The education sector's role in producing skilled professionals who meet businesses' and the country's needs, filling crucial gaps between the education and business sectors to solve pressing issues together.
SET Senior Executive Vice President Soraphol Tulayasathien emphasized the critical role of "practitioners" who drive sustainable organizations and the need for knowledge transfer and quick cooperation among sectors to navigate crises and rapid changes. To support ESG development, SET has established the SET ESG Experts Pool to guide businesses towards sustainability, while prioritizing corporate governance principles and promoting social and environmental responsibility. SET continues to advocate for ESG awareness, providing ESG tools, and introducing the SET ESG Ratings assessment and infrastructure systems like the ESG Data Platform for centralized sustainability data management.
The SET ESG Professionals Forum 2023: Together for Change, held on November 29, 2023, provided an exceptional platform for learning, exchanging experiences, and developing professional skills in sustainability. SET's revolutionary ESG vision and five key strategic trends for 2024 will transform Thailand's capital market, breaking down barriers, and promoting innovation, collaboration, and positive change. To watch the full event, interested individuals can visit SET Thailand's Facebook and YouTube channels.
Source: SET Corporate Communications