Bangkok--26 Oct--SET
The Stock Exchange of Thailand (SET) has been granted the United Nations Sustainable Stock Exchanges (SSE) Market Transparency Award at the SSE Global Dialogue — a part of the UNCTAD World Investment Forum (WIF) 2018 in Geneva, Switzerland. The UN SSE Market Transparency Award acknowledged markets where sustainability has been integrated into corporate behavior through reporting practices. SET was ranked the seventh place among 35 global stock exchanges.
SET was the top-ranked emerging stock exchange and the only Asian exchange to reach the top 10, demonstrating the exceptional sustainability disclosure practices of Thai listed companies. The Thai stock exchange has shown prominent development with its ranking rising to the seventh spot in 2018 from the 10thplace in 2017 and the 40th position in 2013. The 2018 SSE Report on Progress also highlighted that Thai listed companies' sustainability disclosure has been improving in terms of both quantity and quality.
SET President Pakorn Peetathawatchai said "The UN SSE's recognition reflects the Thai capital market's dedication and commitment in developing listed firms' sustainability disclosure quality. SET has been supporting all Thai listed companies to enhance their sustainability reporting practices to be in line with global standards. This is part of SET's ongoing endeavor to promote inclusiveness to create a sustainable future."
SET Senior Executive Vice President Krisada Sektrakul noted that SET has been actively supporting listed companies in integrating environmental, social and governance (ESG) aspects into business strategies and operations through a variety of capacity-building tools, including sustainability training, consultancy and assessments. The SET's development of Thailand Sustainability Investment (THSI) list, SETTHSI Index, SET Sustainability Awards and its continued support for listed firms to become constituents of Dow Jones Sustainability Indices (DJSI) are part of our efforts to strengthen the Thai capital market and to achieve Thailand's sustainable economic, social and environmental growth, in line with SET's vision "To Make the Capital Market 'Work' for Everyone".
The latest ranking has been revealed in the 2018 SSE Report on Progress: "Measuring Sustainability Disclosure" based on the sustainability disclosure evaluation of over 4,300 listed companies of the FTSE Russell ESG Research universe that are constituents of the FTSE All-World Index. The evaluation takes into consideration seven quantitative indicators of corporate ESG performance: 1) greenhouse gas emissions, 2) energy use, 3) water use, 4) waste, 5) occupational safety, 6) employee turnover, and 7) temporary staff.
According to the report, the top-10 exchanges include 1) Nasdaq Helsinki, Finland; 2) Euronext Paris, France; 3) BME Spanish Stock Exchanges, Spain; 4) Deutsche Boerse, Germany; 5) Euronext Amsterdam, the Netherlands; 6) Borsa Italiana, Italy; 7) The Stock Exchange of Thailand; 8) Johannesburg Stock Exchange, South Africa; 9) Oslo Bors, Norway; and 10) SIX Swiss Exchange, Switzerland.
Earlier this year, SET was recognized as the Best Stock Exchange in Advanced Emerging Market 2018 and the Best Sustainable Securities Exchange - Southeast Asia Emerging Markets 2018 from Capital Finance International (CFI.co) journal.
The SSE Global Dialogue is a venue for global stock exchange and capital market leaders to gather and exchange ideas about sustainable development. SET has participated in the event after becoming the UN SSE Initiative exchange partner in 2014.