The EABC Sustainability Working Group consists of European businesses in Thailand which operate in the field of sustainability or seek to integrate sustainable practices into their economic activities, to contribute to positive sustainability-related economic policies and practices in Thailand. Sustainability presents an opportunity to transform markets, drive innovation, and add value by improving business performance, as well as contributing to climate goals and improved societal outcomes. Integrating sustainability is as crucial as digitalization, both being essential enablers for future business transformation. The ongoing EU-Thailand Free Trade Agreement (FTA) negotiations are expected to contribute to Thailand’s adoption of sustainability principles and practices.

Objectives of the Sustainability Working Group

The core objectives of the Sustainability Working Group (WG) are to promote sound economic, environmental, and social practices, encourage transparency and accountability, and contribute to positive development initiatives. Standards for measurement and reporting of climate change management and other ESG aspects are essential for investor confidence. The WG advocates for the adoption of sustainable practices across all business sectors and economic activities.

Some key policies that the WG would focus on include:

  • Building community among businesses, SMEs, larger corporations, SOEs, government institutions, and chambers to collaboratively address and solve pressing sustainability challenges within the context of the Thai economy.
  • Supporting sustainable business practices and policies by leveraging knowledge, networks, and official access to develop, build, and scale sustainable practices.
  • Promoting an inclusive definition of sustainability that encompasses a wide range of business activities, from financial and funding sustainability to operational and technological sustainability.
  • Driving public awareness, resources, and support for initiatives that tackle Thailand’s most pressing challenges at the intersection of private and public sectors.
  • Proactively participating in the early stages of legal frameworks and policies concerning sustainability.
  • Providing subject matter expertise and advisory services on EU reporting and compliance requirements.
  • Building consensus within the community by aligning with current national priorities and directives, in particular the Net Zero Climate commitments and in doing so, supporting standardization in measurement and reporting to give investor confidence in the Thailand economy and to support companies in their net zero journeys.

Working Group Priorities are a select set of the following:

  • EU-Thailand FTA, especially the Trade in Sustainable Development (TSD) Chapter
  • Standards for accounting and reporting of climate and other ESG activity relevant in Thailand,
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    and understanding applicability of other regulation, including EU Corporate Sustainability Reporting Directive (CSRD)
  • European Green Deal; understanding meeting CBAM and other obligations and advocating for resolution of cost issues
  • UN SDGs
  • Understanding NDCs (Nationally Determined Contributions) and international trade in carbon Credits (ITMO – Internationally Transferable Mitigation Outcomes)
  • Climate targets including Carbon Neutrality; Net Zero
  • Draft EPR laws (in particular Sustainable Packaging Management Act) and Draft Climate Change Act
  • Waste management and in particular Plastic specific strategy
  • Import regulations

Attachments

  • DOWNLOAD pdf Sustainability Working Group Scope and Purpose v 1.4
    File size: 175 KB Downloads: 1538