Gulf Energy Development Public Company Limited (SET: GULF) has been awarded with an ‘AAA’ rating from SET ESG Ratings 2024 under the ‘Resources’ category by the Stock Exchange of Thailand. This marks GULF’s sixth consecutive year of inclusion in the list of sustainable stocks, underscoring GULF’s commitment to sustainable business practices. This commitment is grounded in good corporate governance, comprehensive risk management, and adherence to environmental, social, and governance (ESG) principles in business operations, aiming to build trust with investors and stakeholders alike.
GULF is dedicated to sustainable business practices in all dimensions to drive stable growth and adapt to evolving global trends and business volatility to maintain long-term competitiveness. The company continues to reduce its environmental impacts with an ambition to achieve net zero greenhouse gas emissions by 2050 and increase renewable energy capacity to 40% of gross installed capacity by 2035 to contribute to a low-carbon economy.
This year, 228 listed companies met the SET ESG Ratings criteria, with 56 achieving the highest ‘AAA’ rating. To qualify, companies must voluntarily participate in the assessment, score at least 50% in each of the E, S, and G dimensions, as well as meet additional requirements set by the Stock Exchange of Thailand, including a 3-star or higher Corporate Governance Report (CGR) assessment from the Thai Institute of Directors Association (IOD), no recent accusations or convictions of ESG offenses by government agencies or related bodies and no designation as a company with significant concerns (CB, CC, CF, CS, etc.) Currently, several funds incorporate SET ESG Ratings into their investment policies. Notable examples include Thailand ESG Funds (TESG), with over 14,545 million baht in assets under management (AUM) and Vayupak Fund 1, a Type A investment unit with an AUM of 150,000 million baht. As listed companies increasingly prioritize sustainable business practices, it is anticipated that more funds will adopt ESG investment policies in the future.
For more information on GULF’s ESG, please visit GULF’s Sustainability Report at https://investor.gulf.co.th/en/document/sustainability-reports
