Gulf Energy Development is among 170 companies included on the Stock Exchange of Thailand's Thailand Sustainability Investment (THSI) list for 2022, making the register in the resources category for the fourth consecutive year.
The company said the listing reaffirms Gulf's business practices prioritising sustainable growth and risk management by adhering to environmental, social and governance aspects, along with maintaining responsibility to all stakeholders.
As a SET-listed company, Gulf will continue to strive for excellence in all aspects to be agile in adapting to changing global trends and business disruptions to maintain a competitive edge, according to the company's statement.
Gulf is implementing a long-term business strategy to increase investments in renewable energy to comprise no less than 30% of total installed generating capacity by 2030.
The company also aims to reduce carbon intensity by at least 25% by 2030.
Gulf will continue to focus on sustainability management while expanding the scope of comprehensive risk management to support economic growth, the company said.
The THSI list is compiled from listed companies' responses to the sustainability assessment form, consisting of 20 topics covering general indicators and industry-based indicators across eight industries in accordance with the key issues for investors' consideration, as well as the company's long-term competitive capabilities.
Listed companies with a score passing the 50% threshold in each dimension (economic, environmental and social) and meeting the qualification requirements are selected for the THSI list. For example, a company with a corporate governance report rating of three stars or more qualifies for the list.
The sustainable investment working group, consisting of experts in the capital market sector, work to ensure transparency in the process of screening and selection.
The THSI list will be used to select constituents for the SETTHSI Index to promote sustainable investment.
The review of the constituents of the SETTHSI Index is conducted semi-annually on a regular basis.
The stock exchange said the 170 companies on the THSI list demonstrated significant development in the disclosure of environmental and social information, such as policies and targets for environmental management, performance and efficiency in the management of resources related to energy efficiency, water and waste management, and in terms of employees, communities and society through their business processes.
Listed companies have also assessed climate change risks by firmly establishing policies and measures to reduce greenhouse gas emissions, as well as creating human rights due diligence processes.
