Perspectives of Thai Listed Companies on the United Nations' Sustainable Development Goals

Abstract

The UN 2030 Agenda for Sustainable Development encourages both public and private sectors to contribute in achieving the 17 Sustainable Development Goals (SDGs), which include 169 targets covering all social, economic, and environmental dimensions. Thai government incorporated SDGs as the key agenda to be addressed in its 12th National Economic and Social Development Plan and the 20-yr National Strategy. The government has to rely on private sector's contribution to achieve the national targets. In the past few years, the Stock Exchange of Thailand (SET) and some Thai listed companies have been very active in promoting sustainability practices; however, their understanding and contribution to the SDGs remain unclear. This study investigated their perspectives, policy, and planned actions towards SDGs using structural equation modelling technique. The results show that investor is the key driver for SDGs and can influence business strategies of companies towards achieving the SDGs. The findings can contribute to understanding current directions and conditions of Thai listed companies to integrate government sustainability policies in their business strategies.