SEC releases Thai version of TCFD recommendations for local businesses
SEC Secretary-General Pornanong Budsaratragoon said: “The Thai capital market has developed in line with the global emphasis on climate change initiatives. The Thai version of the TCFD Recommendations, prepared by the SEC with support from the TCFD, is a vital tool for listed companies, investment analysts and asset managers to gain a better understanding of climate-related financial disclosures that involve risks and opportunities concerning climate change, enabling them to analyze securities, give investment advice, and make investment decisions efficiently. This is also a major step that facilitates market participants as they make a smooth transition towards adopting sustainability disclosure standards, e.g., ISSB, IFRS S1 and IFRS S2,in the coming years to support sustainable growth. The SEC is also committed to expediting Thailand’s shift towards a low-carbon economy with the goals of achieving carbon neutrality by 2050 and net zero greenhouse gas emissions by 2065.”
The TCFD Recommendations assist companies worldwide in recognizing climate-related risks and opportunities and providing comprehensive climate-related financial information. They also allow companies to develop strategies to manage those risks so that they are climate resilient and able to cultivate opportunities arising from the transition to a low-carbon economy. This enables investors, investment analysts and asset managers to assess the prices and values of assets accurately as well as allocating capital more efficiently.
Since the introduction of the TCFD Recommendations in 2017, the demand for climate-related disclosure has increased significantlyas corporates worldwide share a common goal of reducing fragmented climate-related risk disclosure. As Thailand’s first governmental agency to have become an official supporter of the TCFD since 30 December 2020, the SEC has encouraged listed companies to adopt the TCFD Recommendations and promoted the incorporation of climate-related risks and opportunities into securities analysis and asset management to enable favorable long-term returns for investors.
The Thai version of the TCFD recommendations is now available for download at:
TCFD-Recommendations-Thai.pdf (bbhub.io)orThai HandbooksGuidelines (sec.or.th)
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