Bangkok, 2 February 2022, The UN Development Programme (UNDP) and the Securities and Exchange Commission (SEC) signed a Memorandum of Understanding (MoU) today, in which both parties reaffirm their joint commitments to advance the 2030 Agenda for Sustainable Development through the Thai Capital Market for the Sustainable Development Goals (SDGs). 

UNDP and SEC have agreed to promote the capital market’s understanding of the meaning and principles behind sustainability, the Leave No One Behind Agenda, and sustainable finance. The agencies will also advocate for the integration of these principles into business’s strategies and operations.

Speaking at the signing ceremony, Mr. Renaud Meyer, Resident Representative of UNDP in Thailand said, “Sustainability is becoming an increasingly important element of business strategy. It is being called for not just by shareholders and investors, but also the general public, which expects greater transparency and information on these issues. With this, UNDP is delighted to deepen its partnership with the Securities and Exchange Commission Thailand to accelerate SDGs action through actively engaging the private sector, especially the listed companies, in aligning their business activities with sustainable development, while also ensuring that claims of SDG contributions can be measured and validated.”

As part of the agreement, UNDP will support the SEC in building the culture and capacity of private sector actors in Thailand, to measure and manage their business impact, in alignment with the SDGs. “UNDP is pleased to join SEC’s efforts in providing technical assistance to support the Thai capital market in shifting from ESG to the SDGs, from process and policy compliance to measuring and delivering positive impacts,” Mr. Meyer added.

SEC Secretary-General Ruenvadee Suwanmongkol said “Building a sustainable capital market is SEC’s flagship strategy in line with the 20-Year National Strategy, the Draft 13th National Economic and Social Development Plan, Bio-Circular-Green (BCG) Economy Model, and the National Action Plan on Business and Human Rights (NAP). It is also one of the driving forces to achieve the United Nations’ Sustainable Development Goals (SDGs). As corporates have a vital role in driving the economy, SEC promotes and supports their efforts to integrate environmental, social and governance (ESG) factors into their business strategies and to reduce inequality in their business operations. In so doing, SEC also focuses on fostering a favorable ecosystem for sustainable development by taking into consideration all related elements and encouraging cooperation among all sectors. All these will contribute to the sustainable development of the Thai capital market. 

SEC is ready to closely collaborate with UNDP to become a driving force in supporting and promoting business sectors along the path towards business sustainability. We believe that with close cooperation and active engagement, we will be able to implement this Memorandum of Understanding successfully and in the best interests of both parties, which will lead to sustainable development of the capital market, the community and the country at large.” Added Ms. Ruenvadee.

The MOU will see the two entities co-creating various platforms to engage and strengthen private sector contribution towards the SDGs. These include i) Web Based Software for SDGs Impact Measurement and Management, a comprehensive tool that covers the whole impact management process; ii) the SDG Investor Map, an innovative tool that provides market intelligence for the country to leverage private finance for the SDGs Implementation; and iii) the SDG Corporate Tracker, an online dashboard that collects and reports data on the private sector’s contributions to the SDGs, among others.

The agreement is expected to expand cooperation in key thematic areas including climate and biodiversity finance, strengthening the Thai impact investment ecosystem, advocating for business and human rights, and promoting diversity and inclusion in the workplace, particularly for people with disability. 

The signing of MoU between UNDP and SEC is a crucial step towards long-term collaboration between the two entities in supporting sustainable capital markets and SDG financing, and marks an important milestone in advancing Thailand’s progress towards achieving the SDGs.

Press release in Thai, read here. 

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UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and planet. Learn more at undp.org/ th.undp.org or follow us at @UNDPThailand.

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MEDIA CONTACTS:

UNDP Thailand:

Aphinya Siranart, aphinya.siranart@undp.org

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The Securities and Exchange Commission, Thailand:

Tatchaporn Suwannachuen, atthawan@sec.or.th