Thai firms top S&P sustainability index

A total of 37 Thai companies have been included in S&P Global's Sustainability Yearbook 2023, with 12 awarded "Gold Class", the highest tally globally for the best performing sustainable companies in their industry, the Stock Exchange of Thailand (SET) reported yesterday.

The recognition reflects their leadership in sustainability and bolsters the confidence of global investors in the Thai stock market, said SET president Pakorn Peetathawatchai.

Thai companies have embraced sustainable and balanced growth, and a number of them have been regularly selected for global sustainability indices, including MSCI, FTSE and S&P Global, said Mr Pakorn.

The SET supports sustainability integration in business operations regarding environmental, social and governance practices for the optimal benefit of businesses and the country, he said.

The Thai companies listed as Gold Class are: Asset World Corporation, Berli Jucker, BTS Group Holdings, Home Product Center, PTT Global Chemical, Siam Cement, SCG Packaging, Thai Oil, True Corporation, Thai Union Group, VGI and Thai Beverage.

S&P Global provides indices that worldwide investors use for analysis and investment decisions.

Being listed on a sustainability index increases the confidence of all stakeholders and puts a firm on investors' radar, said Mr Pakorn.

"The Sustainability Yearbook 2023 indicates Thai businesses' excellence when compared with their industry competitors across the world," he said.

S&P Global assessed the sustainability of 7,822 companies across the globe and listed only 710 in its index.

Thailand's inclusion of 37 listed firms ranked the country fifth globally.

The assessment is divided into four classes: gold, silver, bronze and member.

The top three positions in terms of Gold Class companies are Thailand (12), the US (11), and seven firms each from Taiwan and Italy.

Moreover, five listed Thai companies -- AWC, Central Retail Corporation, SCG Packaging, VGI and WHA Corporation -- are recognised as "industry movers" for their significant increase in sustainability scores from the preceding year, said Mr Pakorn.