SET Launches, ESG Data Platform, First Sustainability Data Management System for Listed Firms

Published on: 05 October 2022
by KnowESG
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The Stock Exchange of Thailand (SET) has moved forward to strengthen the Thai capital market's ecosystem on sustainability by launching the ESG Data Platform, which gathers listed companies' data on the environment, social, and governance (ESG). The ESG Data Platform offers an end-to-end ESG data management system, from listed companies' data filing to analytics and distributed ESG data to stakeholders.

The platform features easy-to-use ESG data, which investors can rely on in combination with their financial analysis of the listed companies. It also supports the listed companies prepare for an ESG disclosure under Form 56-1 One Report of the Securities and Exchange Commission and other ESG reporting frameworks, which will pave the way for further business development and sustainable investment.

Phase 1 of the ESG Data Platform began offering service on October 3, 2022, the listed companies have been able to submit their ESG data via the SETLink.Phase 2 will distribute ESG data to the SET public domain, including the SET website, settrade website and SETSMART within the second quarter of 2023.

SET President Pakorn Peetathawatchai said that there is a growing demand for ESG data both at a national and international level. The number of stakeholders, from investors, and customers to the regulatory agencies, has been drastically increasing in the demands of the ESG disclosure from listed companies to ensure that entrepreneurs have adapted to maintain their competitiveness and put in place risk management and responsibility to stakeholders, society and environment that is in line with the Sustainable Development Goals (SDGs) of the United Nations.

"SET has a strategy to put forward the development of ESG Data Platform, which represents an innovative infrastructure collaborated with partners in the capital market. As a result, everyone can have access to ESG data management system SET is well aware that a mechanism for information disclosure on ESG will play a vital role in shaping business development and sustainable investment in the long haul. It also goes hand in hand with the SET's vision "To Make the Capital Market 'Work' for Everyone", said Pakorn.

"So far SET has promoted the listed companies to disclose the ESG data by providing training and other necessary tools to support them understand and disclose ESG information as required by the Form 56-1 One Report. In addition, SET, through its ESG Metrics, has improved the quality of ESG data by conducting the ESG metrics to measure sustainability in different industries. In so doing, it has guided the listed companies to have a clear path on how to achieve sustainability according to their industry group and to make the necessary preparations to cope with the broader universal standards such as the Global Reporting Initiative (GRI) Standards and Task Force on Climate-Related Financial Disclosures (TCFD)," Pakorn added.

One of the prominent features of the ESG Data Platform is a design of a full range of structured data in quantitative terms, which stakeholders can comparisons of different industries or analyze the financial data conveniently. In the first phase of the ESG Data Platform, SET will gather all the primary ESG data such as the amount of energy or natural resources consumption, the amount of greenhouse gas emissions, as well as data related to the employees and the director of the listed companies before linking the ESG data to the information filing system of Form 56-1 One Report.

SET will continue to develop its ESG Data Platform by focusing on the ESG data that can be used in the practical term and meet the need of industries while considering the listed companies' readiness. Also, it plans to use the ESG data in the assessment, such as Thailand Sustainability Investment (THSI) and the Corporate Governance Report (CGR), to reduce the listed companies' burden and the overlapping task in their filing of information.

Source: Stock Exchange of Thailand

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