When “sustainability” becomes the top criterion in investors’ decision-making, as per Morningstar’s report, a leading global investment research and financial services firm, it indicates that the global sustainable fund assets rose by 1.8% over the last quarter to just under USD 3 trillion (or approximately THB 109 trillion) at the end of March 2024. This reflects institutional investors’ growing interest in sustainable investments, a trend that extends to retail investors consistently. This aligns with Morgan Stanley’s “Sustainable Signals 2024” report, stating that more than 77% of individual investors globally are interested in investing in companies or funds that aim to achieve market-rate financial returns while also considering positive ESG impacts.
Recently, S&P Global, a global financial information and transparent rating provider, has announced the list of leading organizations worldwide ranked by the Dow Jones Sustainability Indices (DJSI) 2023 in The Sustainability Yearbook 2024. This serves as a reference for sustainability performance among investor-recognized companies. True Corporation, Thailand’s leading telecom-tech company, achieved the Top 1% ranking, the highest level, with a total score of 95 out of 100. This places True Corporation as the top-ranking company, achieving the highest score among 9,400 evaluated global companies across 62 industries. Additionally, the company is ranked number one in the telecommunications category for the sixth consecutive year.
Mr. Chakkrit Urairat, Chief Corporate Affairs Officer of True Corporation Plc received a trophy and a certificate of Top 1% S&P Global Corporate Sustainability Assessment Score 2023 from Mr. Robert Dornau, Head of CSA Corporate Engagement of S&P Global. On this occasion, Dr. Piyaporn Pasakanon, Head of Sustainability Division of True Corporation Plc joined the S&P Global Sustainability Yearbook 2024 Distinction Ceremony held at the Bangkok Marriott Marquis Queen’s Park Hotel.
Paving the Way for Long-term Value Creation through “Listening to the Voices” of All Stakeholders
For over three decades on the path of sustainability, True Corporation has adopted a key strategy to achieve its goal of driving stable business growth while creating long-term value for society. This involves proactive policy formulation, systematic and comprehensive sustainability operations, and giving importance to listening to the feedback and opinions of all stakeholder groups to effectively meet expectations and create positive impacts. This approach keeps pace with the megatrends and challenges of the present. True has been driving sustainability projects seriously and continuously, aligning with and fully adhering to the stringent assessment criteria in 22 categories of the Corporate Sustainability Assessment by S&P Global across the three ESG dimensions:
Environmental Aspect
True Corporation targets carbon neutrality (scope 1 & 2) by 2030 and Net Zero emissions by 2050. In 2023, True increased its use of renewable energy, installing and using solar power at over 7,800 signal towers nationwide, reducing GHG emission intensity by 12.7% and enhancing energy efficiency by using AI technology to control lighting, monitor network quality via a dashboard, alert problems, and support operations through an application. Additionally, True continues to lead in electronic waste management with zero landfill methods, recycling over 2 million e-waste items from customers and the company’s business operation in accordance to the international standards.
Social Aspect
True aims to promote digital inclusion by supporting education for over 36 million youths and people in society by 2030. It focuses on developing “people” with digital skills, particularly in AI technology, making it accessible to all Thais. It also aims to develop employees into “Citizen Developers”. In 2023, True facilitated access to education for over 32 million people through various platforms under the True Plookpanya Project while instilling moral values in Thai youth through the “True Little Monk” dharma reality show, which has been a medium for disseminating Buddhism for over a decade. Furthermore, True developed innovative solutions to create long-term value for customers and the organization, improving customer service efficiency with AI, resulting in a 95% customer satisfaction score.
Governance aspect
True manages cybersecurity and personal data protection for customers, employees, and stakeholders in line with global standards, using AI and ML (Machine Learning) to manage threats and enhance cybersecurity. The company has established an AI Ethics Charter to govern the transparent use of AI technology. Simultaneously, True places importance on doing business with partners. In 2023 alone, the company engaged with a total of 1,450 business partners, each of whom successfully completed a comprehensive ESG self-assessment. True also drives the respect for human rights throughout the business operations supply chain, enhancing comprehensive Human Rights Due Diligence and supporting equality for employees and all groups in the society.
Mr. Chakkrit Urairat, Chief Corporate Affairs Officer, True Corporation Plc said that “Participation in the Corporate Sustainability Assessment serves as a vital gague for organizations worldwide to learn, improve, reduce risks, and recognize the positive and negative impacts on the economy, society, and environment. It is our highest honor that True has been ranked by S&P Global in the top position of the DJSI 2023 Sustainability Index in the telecommunications industry for six consecutive years, with a total score of 95 out of 100 points in The Sustainability Yearbook 2024. Moreover, True ranks in the top 1%, receiving the highest global score among companies in 62 industries, proving that True Corporation is a Thai organization conducting sustainable business correctly and recognized internationally.”
For more information about True Corporation’s sustainability operations, please visit https://www.true.th/sustainability and the S&P Global Sustainability Yearbook 2024 at https://www.spglobal.com/esg/csa/yearbook/2024/ranking/index
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