By The Nation
Paiboon Nalinthrangkurn, board director of the organisation, revealed that many companies in the Thai capital market will campaign for environmental, social and governance practice (ESG) among listed firms for a better society and environment.
Institutes joining the campaign include the seven members of the organisation: The Stock Exchange of Thailand, ATI-ASCO Training Institute, Thai Listed Companies Association, Association of Investment Management Companies , Investment Analysis Association, and The Alternative Investment Management Association. Others are the Government Pension Fund institute, Securities and Exchange commission, Association Of Provident fund, and Thai Institute of Directors.
The asset management organisation has a market capitalisation of Bt5 trillion, while other funds have a combined Bt8-9 trillions.
The campaign is to honour the coronation of His majesty the King.
They believe that a listed company should follow ESG practice by performimng good deeds for the society and the environment. For example, a company which uses a high volume of packaging materials should reduce non-environmental friendly content in its production process, whereas a financial company, such as Tisco, should share financial knowledge with the public.
There are 700 listed companies engaged in environmental, social and governance practice (ESG).
Big organisations, such as the PTT Public Company Limited (PTT) which is listed in the high finance enterprise group, should invest more in enterprises involved in social issues, while listed institutes should give advice on ESG practice to small and medium-sized companies, they added.