The Stock Exchange of Thailand (SET) is committed to driving sustainable capital market development towards the goal of net-zero emissions as SET marks its 50th year anniversary. In line with its 2024 strategic plan, SET has developed the SET Carbon system, which will disclose climate change management data of the capital market. By leveraging technology to manage greenhouse gas (GHG) emissions data of listed companies' business operations, and connecting the energy and resources data from the designated agencies, SET aims to enhance the quality of Environmental, Social, and Governance (ESG) data for the benefit of data users. Recently, SET has collaborated with the Electricity Generating Authority of Thailand (EGAT) to exchange energy consumption data and streamline processes for listed companies' data collection. The first phase of the SET Carbon system will be available for interested listed companies within the first quarter of 2025.
SET President Pakorn Peetathawatchai said that SET supports the drive towards sustainability both internally and externally. As is widely known, climate change manifests through natural disasters, sea-level changes, and rising global temperatures, poses significant risks to businesses, primarily due to GHG emissions from human activities. As SET approaches its 50th anniversary, it has committed to achieving net-zero emissions by 2050. To accomplish this goal, SET is currently developing the SET Carbon system to manage, store, and calculate GHG emissions data from business activities using recognized technology and standards for systemic data management.
"The SET Carbon system will enhance the quality of listed companies' ESG data, enabling investors and stakeholders to make informed investment decisions and monitor business disclosures. It will also help businesses plan their GHG management efficiently and cut down listed companies' costs and data collection processes. Data from the SET ESG Data Platform demonstrates that, in 2024, 266 listed companies, representing 32 percent of the total listed companies, disclosed and verified their GHG emissions data. The key factors driving listed companies to disclose such information include measures to support the investment in Thai ESG funds and their readiness for regulatory changes. Developing the SET Carbon system requires collaboration across various sectors; SET cannot achieve this alone. This year, SET signed a Memorandum of Understanding (MOU) with EGAT, the national energy data hub, to share experiences and knowledge on efficient energy use with listed companies and connect data through the SET Carbon system. This will help determine policies and energy management guidelines that meet the needs of all sectors. SET also welcomes other partners in developing and enhancing the quality and the use of ESG data to transition the country towards a low-carbon society," added Pakorn.
EGAT Governor Thepparat Theppitak said that EGAT is ready to take part in driving the country's economy through collaboration in energy data integration and economic mechanisms for a sustainable environment with SET. This collaboration serves as an important mechanism for the decision-making of investors, ultimately affecting the overall economy. As a local issuer authorized by The International Tracking Standard (I-TRACK), formerly known as The International REC Standard (I-REC), EGAT has certified over 20 million Renewable Energy Certificates (RECs) to renewable energy producers in Thailand, in line with the annual growth of the REC trading market and the demand from leading companies to access clean energy, and further advancing Thailand towards a green society.
The SET Carbon system manages data by determining GHG emissions inventory, covering energy and resource use across the entire business value chain, categorized by industry groups. The system can generate reports in a dashboard format and connect with other systems, such as SET's ESG Data Platform and the energy and resource consumption data from the relevant agencies. Currently, a prototype is under development with 20 pilot listed companies from all industry groups. The first phase focuses on listed companies interested in using tools to prepare and disclose Scope 1 (direct GHG emissions from the organization's activities) and Scope 2 (indirect GHG emissions from energy consumption) data, with GHG emissions verification according to the requirements of the 56-1 One Report. The system will expand to Scope 3 (indirect GHG emissions from the value chain) for listed companies in the next phase.
For more information, please call SET's Sustainable Development Services Department at +66 (0) 2009 9894 or +66 (0) 2009 9887.