Prof. Pornanong Budsaratragoon, Ph.D., SEC Secretary-General stated that the purpose of this seminar was to reiterate the importance of strong corporate governance culture as a key foundation for enhancing trust and confidence in listed companies and the capital market as a whole. Nowadays, listed companies were expected to operate with their social and environmental responsibilities for the creation of sustainable value throughout the value chain. Corporate governance must take into account the impacts on stakeholders alongside business performance. This was the key message the SEC had been continuously striving to promote among listed companies and related parties.

“One of the SEC’s key initiatives in this area is the introduction of the Corporate Governance Code or CG Code for listed companies in 2017. The CG Code serves as a set of practice principles for the board of directors, as the governing body of a listed company. The board plays an important role in considering the application of the CG Code into the company’s business context while taking into account the impacts on stakeholders or sustainability factors when setting the directions, objectives, and strategies and ensuring that the operations are in line with the established directions. The essence of the CG Code is in line with the revised G20/OECD Principles of Corporate Governance developed by the Organisation for Economic Co-operation and Development (OECD) and published in late 2023. The OECD Corporate Governance Principles emphasize the consideration of risk and sustainability factors in the business operations which will contribute to the company’s thriving and sustainable long-term performance.”

The seminar, titled "Building a Sustainability – Competent Board," was honored to have Dr. Prasarn Trairatvorakul, former Governor of the Bank of Thailand, and Mr. Kulvech Janvatanavit, Chief Executive Officer (CEO) of the Thai Institute of Directors Association (Thai IOD) for discussion and exchange of views on the role of the board of directors, which requires more responsibilities in response to the business trends amidst today’s challenges. Key requirements to overcome obstacles include the accommodating attitude, motivation, knowledge and skills of organizational leaders to nurture sustainability and appropriate balance, taking into account public interest in the business undertaking.

In addition, the panel discussion on "Reflecting ESG Values in the Business," was joined by the following participants: Ms. Piyaporn Phanachet, Chief Executive Officer of TCM Corporation Public Company Limited, Mr. Sompol Tanadumrongsak, Director, Chairman of the Executive Committee and Managing Director of Fortune Parts Industry Public Company Limited, Ms. Naparat Sriwanvit, Chief Financial Officer of Central Pattana Public Company Limited, and Mr. Pairat Srivilairit, First Executive Vice President – Governance Office, TISCO Financial Group Public Company Limited. The discussion included the exchange of points of view on the issues of integrating ESG factors into business processes and tangibly building a corporate culture with good governance as well as social and environmental responsibilities. The key points from the panel are that sustainability is not a burden or an issue separate from normal business operations, but rather a key component that enables businesses to deal with problems and manage risks effectively, bringing about sustainable management of the businesses from upstream, midstream, to downstream.

This seminar was attended by approximately 120 directors, senior executives, representatives from listed companies, and agencies related to the capital market.

The seminar recording is now available for replay on YouTube “ThaiSEC” or website https://www.sec.or.th/onereport.