The SET hosted the 36th ASEAN Exchanges CEOs Meeting, where all 6 ASEAN stock exchanges jointly set sustainability indicators according to international standards. Develop ESG cooperation to enhance ASEAN stock exchanges and sustainable investment.
Mr. Phakorn Peetathawatchai, Director and Manager The Stock Exchange of Thailand revealed that the Stock Exchange of Thailand Hosted the 36th ASEAN Exchanges CEOs Meeting held on 8 September 2023 between 6 ASEAN stock exchanges from 6 countries, namely Malaysia, Indonesia, Philippines, Singapore, Vietnam and Thailand, to jointly determine guidelines for working together in various areas. such as driving sustainability Developing interconnected products To expand investment opportunities Ready to upgrade the ASEAN stock exchange and sustainable investment
“From the growth of the region ASEAN Stock Exchange is committed to creating continuous investment opportunities. At the meeting, senior executives of ASEAN stock exchanges discussed ways to develop cross-border products, including expanding awareness of the potential of ASEAN stock exchanges to foreign investors. ESG issues also play an important role in making investment decisions. The ASEAN Stock Exchange has therefore prepared common indicators. To provide a guideline for listed companies to disclose information. and allow foreign investors to access information Ready to help promote the flow of capital into the region,” Mr. Phakorn said.
At the meeting, the ASEAN Stock Exchanges jointly determined 10 indicators of corporate governance (Governance) in addition to the previous meeting. The ASEAN Stock Exchange has announced environmental sustainability indicators. (Environmental) and society (Social) have been prepared as guidelines for each stock exchange to use as a practice guideline to drive sustainability of listed companies on the ASEAN Stock Exchange. By promoting the disclosure of ESG information covering important topics. It supports sustainable investment in the region. and is in line with the international trend that is continuously increasing in importance This meeting led to the determination of indicators covering all 3 dimensions of ESG, which are important to every country.
For the 10 corporate governance indicators jointly determined at this meeting, they are:
1. Board diversity: The indicator is the percentage of the number of male and female directors.
2.Independence of the board. The indicator is the percentage of the number of independent directors.
3. Independence of the board. The indicator is that the chairman of the board of directors and the top executive are not the same person (yes/no).
4. Election of new directors and re-election of directors who have retired from office. The indicator is the criteria for selecting new directors (yes/no).
5.Board meetings: The indicator is the percentage of attendance at board meetings of each director during the year.
6. Annual evaluation of the performance of the Board of Directors. Indicators are the evaluation of the performance of the Board of Directors and the disclosure of management criteria and processes after the evaluation (yes/no).
7. Development and training of the board of directors. The indicator is the company policy regarding promoting directors to continuously develop their knowledge (yes/no).
8.Business Ethics: The indicator is disclosure of details of business ethics and/or code of conduct manual (yes/no).
9. Treat shareholders equally. The indicator is the company policy regarding preventing the use of inside information by directors. Executives and employees (yes/no)
10. Treating shareholders equally. The indicator is the company policy regarding reporting interests and conflicts of interest of directors (yes/no).
The ASEAN Exchanges CEOs Meeting was attended by senior executives from 6 ASEAN stock exchanges from 6 countries, including the Malaysia Stock Exchange (Bursa Malaysia), the Indonesia Stock Exchange (Indonesia Stock Exchange), the Philippine Stock Exchange (Philippine Stock Exchange), the Singapore Stock Exchange (Singapore Exchange Group), the Vietnam Stock Exchange. (Vietnam Exchange) and the Stock Exchange of Thailand (The Stock Exchange of Thailand). In addition, the Cambodia Stock Exchange (Cambodia Stock Exchange) and the Lao Securities Exchange (Lao Securities Exchange) also attended this meeting. Those interested can follow information on the ASEAN Stock Exchange. Trading information Companies listed at www.aseanexchanges.org .
Source: Thai News Agency