SET signs MoU with IFC to drive Thai capital market towards sustainable development

Stocks and Financial Services Press Releases Thursday August 29, 2019 17:30
Bangkok--29 Aug--SET

The Stock Exchange of Thailand (SET) today signed a Memorandum of Understanding (MoU) with International Finance Corporation (IFC), a member of the World Bank Group, to jointly push the Thai capital market towards sustainability. The cooperation centers on raising awareness of the benefits of sustainable investment products, disclosing information related to sustainability, educating the capital market's human resource and investors on sustainability, to build ecosystem for sustainability in all dimensions to make the Thai capital market more attractive to investors worldwide.

SET President Pakorn Peetathawatchai said that markets around the world prioritize sustainable development, with business sector playing a larger role in solving social and environment problems. Investment in businesses that realized about such issue is currently experiencing increased attention and being an alternative for investors worldwide. SET has encouraged capital market and business sectors to continuously and concretely develop sustainability. The Thai stock exchange has shown prominent development with proven success as Thailand has the highest number of firms added into Dow Jones Sustainability Indices (DJSI) in ASEAN for a five-straight year. Moreover, SET has been granted the "United Nations Sustainable Stock Exchanges Market Transparency Award". It 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.

"This MoU with IFC will enhance the Thai capital market towards sustainability, focusing on developing sustainable investment products namely Green Bond - a debt instrument for environmental protection, educating workforce and investors in the capital market about sustainability to level up ability and upgrade the Thai capital market in terms of sustainability to catch eyes of investors globally, in tandem with SET vision "To Make the Capital Market 'Work' for Everyone", " Pakorn added.

Vikram Kumar, IFC Country Manager for Thailand, said "We are excited to build this sustainable development partnership with The Stock Exchange of Thailand. Building Environmental, Social and Governance capabilities can contribute to SET becoming one of the region's premier exchanges. IFC is also committed to working with SET to build its sustainable credentials and promote the blossoming sustainable bond market. With its deepening financial markets and dynamic banking sector, Thailand is well placed to become a regional leader in promoting ESG standards, especially as it shares its capital and expertise to less advanced neighboring markets."

About The Stock Exchange of Thailand

The Stock Exchange of Thailand (SET) is among the most liquid exchanges in Asia, providing a full range of investment products including equities, derivatives, as well as world-class trading, post-trade infrastructure/technology services. Going forward, SET's vision "To Make the Capital Market 'Work' for Everyone" is aligned with the aim to support strong economic growth and competitiveness. Globally and regionally, SET has also actively coordinated with other exchanges to boost investment opportunities and capital market growth potential. Moreover, SET puts strong emphasis on sustainable growth by promoting listed companies' business models that care for environmental, social and governance (ESG) practices.

About IFC

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org


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