Carabao Group has been included in the Stock Exchange of Thailand's 2022 Thailand Sustainability Investment (THSI) list in the agriculture and food sector for the first time. This inclusion displays the company's commitment to incorporating environmental, social and governance (ESG) issues as mechanisms to operate its business in an environmentally friendly manner, benefitting the community, as well as creating shared economic values. Carabao Group, best known as the producer of Carabao energy drinks, is among 170 business concerns in eight sectors shown in the 2022 THSI list that was released by SET on 10 October.
Carabao Group Chief Executive Officer Mr.Sathien Sathientham said: “Carabao is extremely pleased to have been selected for the SET's sustainable investment list. Businesses nowadays are based on sustainability, not only maximising profits to shareholders, but needing to show social and environmental responsibility - an approach that has been increasingly accepted as the new norm. For Carabao, we see the embrace of sustainability as creating long-term value while taking into account the needs of stakeholders and the wider society.”
Mr Sathien called Carabao's debut on the THSI list as a major milestone that helps to build confidence for investors who take into account ESG practice along with financial performance when making investment decisions. The THSI list is derived from sustainability assessment questionnaires with 17 general indicators covering economic (including corporate governance), social and environmental dimensions, as well as indicators according to the nature of the business in each of 12 industrial sectors. That encompasses certain critical matters including the risk from water usage, product responsibility and biodiversity management.
In order to qualify for the THSI list, a listed firm must achieve a minimum score of 50% in each of the economic, environmental and social categories or be chosen as a member of the Dow Jones Sustainability Indices (DJSI) in the same time frame of the THSI assessment. The assessment was conducted by the Sustainable Investment Working Group to ensure transparency throughout the process. The 2022 THSI list can be found at www.setsustainability.com.
Last August, Carabao Group obtained the 2021 Corporate Carbon Footprint Certification from the Greenhouse Gas Management Organisation, a public entity in Thailand. In the certificate number TGO CFO FY22-152, the company disclosed its environmental data and greenhouse gas data reporting in public channels, and the accuracy of the data is verified by an auditor. It demonstrated Carabao's transparency and commitment to running a business with minimal environmental impacts and mitigating global warming problems.
