It can be a minefield trying to comply with increasing ESG regulations across multiple countries. An effective governance system provides you with the stability you need to stay on the right path.
Good governance fosters transparency, which establishes trust among managers, stakeholders, and governing bodies. It also helps to forecast and monitor potential risks across global supply chains, protect company and brand reputation, and manage differing national environmental policies.
Sustainability governance in Thailand
In 2014, Thailand’s Securities and Exchange Commission (SEC) began requiring companies to report their CSR policies and activities on its 56-1 checklist, which is an annual report on listed companies. This initiative is a part of the SEC’s Sustainability Development Roadmap of 2013 and outlines processes to improve corporate sustainability and enhance the environmental and social sustainability of Thailand’s private sector.
We can help you:
- develop a code of conduct, and ESG policies and procedures that meet your stakeholders’ expectations
- align employees’ expectations and actions with your sustainability strategy through clear change good communication
- manage risk and regulatory compliance and their impact on your company’s strategy and operations, and
- assess your compliance with sustainable development regulatory requirements, company policies, industry codes, and voluntary codes, and identify areas for improvement.
Case studies
- Sustainability risk assessment
- Governance assessment framework
- CSR due diligence
- Environmental and social risk management
Sustainability risk assessment
Challenge: The client asked us to help them design and apply a sustainability risk assessment that covered an array of sectors: plantations, automotive, energy and utilities, industrial, property development, and healthcare.
Solution: We identified and prioritised key sustainability risks at group and division levels and made a comparative analysis of the sustainability risks faced by global companies.
Results: Our assessment enabled our client to develop strategies to manage key sustainability risks. Notably, we pinpointed key issues that hadn’t as yet been adequately addressed.
Governance assessment framework
Challenge: The client wanted to put in place a framework to assess the effectiveness of governance practices among its investee companies.
Solution: We developed a governance scorecard that measured the effectiveness of governance practices for building and maintaining public trust. It assessed multiple dimensions, such as regulatory requirements, the company’s integrity, initiatives that positively impact society and the environment, and the frequency of stakeholder communications.
Results: Our scorecard enabled the client to measure governance effectiveness for regulatory compliance. It also assessed the public’s and stakeholders’ perception of the organisation.
CSR due diligence
Challenge: The client requested CSR due diligence for a mergers and acquisition deal to help them understand the target’s sustainability performance, relating to local laws and regulations compliance, working conditions, environmental performance, and supplier management.
Solution: We conducted due diligence by reviewing documents and interviewing management, and reported on the findings we identified.
Results: Our assessment provided an overall picture of the operation and its sustainability risk management, which gave our client the confidence to go ahead with the deal.
Environmental and social risk management
Challenge: The client asked us to develop an environmental and social management system (ESMS) to manage environmental and social risks in credit banking operations, and apply best practices to minimise risks and negative impact on the environment and society.
Solution: We developed an ESMS that met the client’s needs, and the client integrated this into its decision-making processes.
Results: The ESMS enabled the company to meet E&S standards.
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