The Stock Exchange of Thailand (SET) announced that 37 Thai companies were included in S&P Global's Sustainability Yearbook 2023, and 12 of them were awarded Gold Class, the world's highest number for the category of the best performing sustainable companies in their industry. The recognition has reflected their leadership in sustainability and bolstered confidence of worldwide investors.
SET President Pakorn Peetathawatchai said SET has supported sustainability integration into business operations in aspects of environmental, social and governance (ESG) practices for the optimal benefits of businesses and the nation. Thai companies have embraced sustainable and balanced growth, and a number of them have been regularly selected as inclusions in the global sustainability indices including MSCI, FTSE and S&P Global. This indicates determination to drive the Thai capital market towards sustainability which is in line with the SET's vision "To Make the Capital Market 'Work' for Everyone".
"According to the latest Sustainability Yearbook 2023 announced by S&P Global, 12 Thai companies earned Gold Class are AWC, BJC, BTS, HMPRO, PTTGC, SCC, SCGP, TOP, TRUEE, TU, VGI and ThaiBev, the highest number in the world for this category by country. This indicates Thai business's excellence when compared with their industry competitors across the world. SET commends Thai listed companies' determination to become sustainable organizations," said Pakorn.
S&P Global provides indices that worldwide investors use for analysis and investment decision making. Being the sustainability index's members will boost confidence of all stakeholders and enable them to be on investors' radar screen. Moreover, five Thai listed companies, which are AWC, CRC, SCGP, VGI and WHA, are recognized as Industry Movers for their remarkable development with a significant increase in sustainability scores from the preceding year."
S&P Global assessed sustainability of 7,822 companies across the globe and listed only 710 companies in the Sustainability Yearbook 2023, of which 37 were Thai companies, ranking the 5th highest number in the world. The assessment is categorized into 4 classes: Gold, Silver, Bronze and Member. Top three countries by share of companies with Gold Class are as follows: 12 companies from Thailand, 11 companies from the United States, seven companies each from Taiwan and Italy.
This year S&P Global applied stricter sustainability criteria to align with responsible investment. Any company from tobacco and coal & consumable fuel industries were excluded from The Sustainability Yearbook 2023. Companies made the list will be selected to other sustainability indices of S&P Global including Dow Jones Sustainability Indices (DJSI) and S&P ESG Index Family.