Gulf secures ‘AA’ rating in SET ESG Ratings 2023 and earns the prestigious 5-Star Rating for Corporate Governance


Gulf Energy Development Public Company Limited (GULF) has been awarded with an ‘AA’ rating from SET ESG Ratings 2023 by the Stock Exchange of Thailand. This marks GULF’s fifth consecutive year of inclusion in the list of sustainable stocks under the ‘Resources’ category.

Additionally, GULF has also received a 5-star rating with an exceptional average score of 103%* from the Corporate Governance Report of Thai Listed Companies (CGR) conducted by the Thai Institute of Directors (IOD). Furthermore, GULF was honored with the perfect 5-medal rating in the Annual General Meeting Quality Assessment of the Listed Company (AGM Checklist), an assessment conducted by the Thai Investors Association (TIA) evaluating the quality of Annual General Meeting (AGM) organization. These accolades underscore the company’s steadfast commitment to achieve prudent sustainable business practices, good governance, and comprehensive risk management. By adhering to environmental, social, and governance (ESG) principles, and upholding corporate social responsibility, GULF demonstrates its judicious accountability to all its stakeholders.

As a SET-listed company, GULF will continue to strive for excellence in both business operations and sustainability management across all areas. The company aims to remaining agile and adaptable in the face of evolving global trends and business volatility, ensuring it maintains a competitive edge. GULF is firmly committed to achieving its decarbonization targets, aiming to reduce carbon intensity by 25% by 2030 (relative to 2019 levels) and to increase the proportion of renewable energy in its portfolio to at least 40% by 2035. GULF believes that through sustainable operations and compliance with international standards, it will successfully achieve its decarbonization objectives in the long term.

For more information on GULF’s ESG, please visit GULF’s Sustainability Report at 

* The average score achieved within the Resources category stands at 86%, while the average score for all listed companies is 81%.