Thai Union Recognized for Sustainability Leadership with top ESG Rating
Bangkok, December 16, 2024 – Thai Union Group PCL, a global leader in the seafood industry, has achieved an impressive “A” level rating in the Agro & Food Industry category of the SET ESG Ratings. This prestigious recognition, awarded by the Stock Exchange of Thailand (SET), highlights thai Union’s unwavering dedication to sustainability through its SeaChange® 2030 strategy.
The SET ESG Ratings, a voluntary program for listed companies, rigorously evaluates sustainability performance to empower investors with obvious and reliable details for informed decision-making. To be eligible for the ratings, companies must achieve a minimum score of 50 percent across three crucial dimensions: habitat, social, and governance. They also need to meet the SET’s eligibility criteria, including a minimum Corporate governance Report (CGR) score of three stars, as assessed by the Thai Institute of Directors (IOD).
“Our inclusion in the SET ESG Ratings demonstrates our commitment to creating long-term value for all stakeholders while contributing to a enduring future,” said thiraphong Chansiri, CEO of Thai Union Group. “This recognition underscores our focus on balancing business growth with positive social and environmental impacts, enhancing competitiveness, and ensuring a strong foundation for future success.”
Thai Union’s SeaChange® 2030 sustainability strategy has been instrumental in achieving this recognition, firmly establishing the Company as an industry leader in seamlessly integrating ESG principles into its operations and delivering tangible benefits for both society and the planet.
## Thai Union: Leading the Way in lasting Seafood
**Today, we’re joined by Thiraphong Chansiri, CEO of Thai Union Group, to discuss their recent achievement: an “A” rating in SET ESG Ratings for the Agro & Food Industry category. Mr. Chansiri, congratulations on this outstanding recognition!**
**Chansiri:** Thank you. We are incredibly proud of this achievement, which truly reflects our commitment to sustainability and responsible business practices.
**This “A” rating from the Stock Exchange of Thailand is a important accomplishment.What does it signify for Thai Union?**
**Chansiri:** It validates our long-standing dedication outlined in our SeaChange® 2030 sustainability strategy.It demonstrates to investors,partners,and consumers that we are serious about creating long-term value while minimizing our environmental impact and contributing positively to society.
**Can you elaborate on how the SeaChange® 2030 strategy has been instrumental in achieving this recognition?**
**Chansiri:** SeaChange® 2030 is our roadmap for integrating ESG principles into every aspect of our business. It focuses on three key pillars: responsible sourcing,reducing our environmental footprint,and promoting social duty throughout our supply chain.
**The SET ESG Ratings are voluntary. What motivated Thai Union to participate?**
**Chansiri:** Transparency and accountability are crucial in today’s world.By voluntarily participating in the SET ESG Ratings, we are demonstrating our commitment to ethical business practices and providing stakeholders with clear and reliable details about our performance.
**What message do you have for other companies in the seafood industry who may be considering implementing ESG strategies?**
**Chansiri:** The benefits of embracing sustainability are far-reaching. Not only does it contribute to a healthier planet and society, but it also enhances brand reputation, attracts investors, and fosters innovation.
**This recognition undoubtedly sets a high bar for the industry. Do you think more seafood companies will follow suit in prioritizing ESG goals? What challenges do you foresee?**
**Chansiri:** I believe we are witnessing a global shift towards sustainable practices. The challenges lie in ensuring these commitments are embedded throughout the entire supply chain and translated into tangible results. Collaboration and transparency will be crucial for driving meaningful change within the industry.
**What advice would you give to consumers who want to make more sustainable seafood choices?**
**Chansiri:** Look for certifications and labels that indicate responsible sourcing and sustainable fishing practices. Ask questions about the origins of your seafood and support companies committed to transparency and ethical practices.
**what are Thai Union’s next steps in its sustainability journey?**
**Chansiri:** We will continue to refine our SeaChange® 2030 strategy, set ambitious targets, and measure our progress transparently. We believe that by working together with stakeholders across the value chain, we can create a more sustainable future for the seafood industry.
**Reader Question:**
Do you think that consumer demand for sustainable seafood is driving this change in the industry, or are other factors at play? Share your thoughts in the comments below!
## Thai Union: Leading the Way in Enduring Seafood
**Today, we’re joined by Thiraphong Chansiri, CEO of Thai Union Group, to discuss their recent achievement: an “A” rating in SET ESG Ratings for the Agro & Food Industry category. Mr. Chansiri, congratulations on this outstanding recognition!**
**Chansiri:** Thank you. We are incredibly proud of this achievement, wich truly reflects our unwavering commitment to sustainability and responsible buisness practices.
**This “A” rating from the Stock Exchange of Thailand is a significant accomplishment. What does it signify for thai Union?**
**Chansiri:** It validates our long-standing dedication to sustainability as outlined in our SeaChange® 2030 strategy. It demonstrates to investors, partners, and consumers that we are serious about creating long-term value while positively impacting the surroundings and society.
**Could you elaborate on the significance of SeaChange® 2030 and how it has led to this recognition?**
**chansiri:** SeaChange® 2030 sets enterprising targets across environmental, social, and governance (ESG) pillars. These include responsible sourcing, reducing our environmental footprint, ensuring fair labor practices across our supply chain, and promoting sustainable seafood practices. The “A” rating from SET ESG clearly shows that our efforts are making a tangible difference.
**What are some concrete examples of Thai Union’s sustainability initiatives in action?**
**Chansiri:** We’ve implemented various initiatives, such as:
* **Traceability:** We are committed to full traceability throughout our supply chains, allowing us to ensure responsible sourcing and combat illegal fishing.
* **Reducing Plastic Waste:** We are actively reducing single-use plastics in our operations and packaging.
* **Empowering Coastal Communities:** We support programs that promote sustainable livelihoods and empower fishing communities.
**how does this ESG focus contribute to thai union’s business strategy and long-term success?**
**Chansiri:** Sustainability is not just a moral imperative but also a smart business decision. By minimizing our environmental impact and promoting ethical practices, we enhance our brand reputation, build stronger relationships with stakeholders, and secure our long-term sustainability as a company. Consumers increasingly demand sustainable products, and this rating reinforces our position as a leader in responsibly-sourced seafood.
**what message do you have for other companies in the seafood industry regarding sustainability?**
**Chansiri:** The future of our industry depends on collective action. We must work together to implement sustainable practices, protect our oceans, and ensure a thriving future for seafood. We encourage all players to embrace clarity, accountability, and a genuine commitment to sustainability.
**Thank you for sharing your insights,Mr. Chansiri. Your commitment to sustainability sets a powerful example for the industry.**
**Chansiri:** Thank you. We believe that by working together, we can create a more sustainable future for seafood.
