Sharing session “Sustainability in Business Practices” by SET ESG Experts Pool at Mahidol University International College in Oct 2024

“The Role of Sustainability for Business Competitive Advantage: Thailand and International Context”

Organized by SET- Sustainability Education Department and MUIC-BA Division

28 October 2024

On 28th October 2024, the Stock Exchange of Thailand (SET) – Environmental Social Governance (ESG) Academy and the Sustainability Education Team in collaboration with the Business Administration (BA) Division of Mahidol University International College (MUIC) organized the 5th session of “Sustainability in Business Practices” special lecture series.

This special event focused on “The role of Sustainability for Business Competitive Advantage: Thailand and International Context”, and benefitted from the knowledge and extensive professional experience of two distinguished Guest Speakers: Ms. Pannita Suttisawad, the Sustainability Impact Reporting Manager at Thai Union Group PCL, and Ms. Ratinan Wongwatcharanon, Vice-President of Investor Relations at Thai Credit Bank PCL. Both Speakers are also members of SET ESG Experts Pool.

Ms. Ratinan began by presenting the business areas of Thai Credit Bank and its focus on Micro SMEs and Nano Finance, with a mission to improve the quality of life for Thai people, promoting social empowerment of communities through financial literacy and sustainability of micro segments. Such efforts are proven to be win-win options for both customers and company, since financial knowledge and business sustainability of the customers ensure good risk management and new opportunities for the bank, such as gaining new potential customers and allowing the business to be the companion in the growth journey of those many promising entrepreneurs who are unable to access formal loans.

Ms. Pannita explained the history of Thai Union Group over 47 years of seafood processing, and how its presence in the several continents around the world has been linked to business sustainability in the several stages of its supply chain. From choosing the sources of its seafood and other ingredients, such as supplements or oil used in canned food, to the packaging options, and also considering the way factories work or the transportation logistics, all decisions are relevant for sustainability. Some options may not be the cheapest in the short-run, but they prove to be worth in medium and long-term, as they create value for the companies’ stakeholders, help manage future risks and bring beneficial business opportunities in the several international markets that the company is operating.

Both Guest Speakers agreed that “in the past, investors and shareholders could be mostly worried about financial performance. Now, it is also important to focus on the future, where risks and opportunities may arrive and this is what Sustainability is all about. Only financial aspects are not enough”.

The ESG experts not only shared their industry insights with business administration students at Mahidol University International College, but also engaged in a very positive conversation about future risks and opportunities that may arise to each of the business areas represented in the event. The discussion was organized in a workshop format about future trends, allowing the students and the future leaders of Thailand’s business landscape, to explore and brainstorm about possible ways to reduce negative impact of risks and transform them into opportunities that may benefit the company and Thai society.

This October event was part of a series that has taken place each academic trimester, featuring prominent speakers from SET- Sustainability Expert Pool, who are thriving in the advancement of sustainable business practices in Thailand. In a survey to the students who participated in the event, they considered that it strongly supported their learning from a practical perspective, with a rate of 4.7 (in a scale up to 5).

Students were eager for this opportunity to learn directly from and exchange their views with key figures in Thailand’s business community, and they found the topics chosen for this session extremely interesting, rating them with 4.8 values (in a scale up to 5). They also shared very positive qualitative feedback about the overall session:

“I think it was a very good experience, useful for us. We had the opportunity to understand in concrete what it means to adopt sustainability practices in a business. For my personal point of view, it was particularly interesting also because I care a lot about sustainability and I would like to work in the future for a company who cares about it.”

“I found out that the guest speakers' had a great knowledge about their field which was a great experience.”

“I learned that there are many firms that already practices sustainability but as a consumer we may not notice it.”

“It was interesting to discuss risk and opportunities related to sustainable practices.”

Ms. Ratinan Wongwatcharanon Vice-President, Investor Relations THAI CREDIT BANK PCL   Ms. Pannita Suttisawad Sustainability Impact Reporting Manager THAI UNION GROUP PCL

Isabel Pereira Rodrigues 

Ph.D., Assistant Professor

Business Administration Division, Business Economics

Mahidol University International College