Bangkok July 13, 2023 – The College of Management, Mahidol University (CMMU) organized the CMMU Sustainability Fest 2023, presenting sustainability awards to 7 public companies, namely Thai Beverage Plc, Kasikornbank Plc, Siam Cement Group Plc, PTT Global Chemical Plc, Central Pattana Plc, Intouch Holdings Plc, and Delta Electronics (Thailand) Plc. The goal is to support organizations to adopt the ESG concept in their business operations, to protect the environment, to build a just society and for good governance in business operations. The 2023 CMMU-ESG AWARD uses the ESG Tracker to help in assessing and selecting suitable candidates to be role models for sustainability for business organizations in Thailand.
Associate Professor Dr. Vichita Ractham, Dean of the College of Management, Mahidol University (CMMU), said that people nowadays are paying more attention to social issues and the environment. This creates the need for business organizations to adapt to keep up with changes. The concept of responsible business or Environmental Social and Governance (ESG) has come to play a huge role in the business operations of organizations in this era.
Therefore, business institutions are another important organization that helps with preparations in terms of skills and knowledge and with the ability to manage the organization sustainably because sustainability is the cornerstone and foundation of responsible business practices.
Based on this approach, CMMU is committed to instilling in students the importance of the environment, society and in administration with good governance. To inspire and encourage students to understand more about sustainability, the “CMMU Sustainability Fest 2023” was held to reward organizations that have practiced and which are committed to sustainability. It also serves as an inspiration for students to continue to follow the sustainability model.
Dr. Vichita added that CMMU is a management academy with a focus on creating human resources across all generations that can apply knowledge to develop organizations in various dimensions, including giving importance to providing an impact on the environment, society and for good governance in the organization. The 2023 “CMMU-ESG AWARD” was created by applying this concept with the academic tool called the ESG Tracker, a tracking system that compares the performance and contributions of regional businesses in relation to the sustainable development goals (SDGs) jointly developed by the College of Management, Mahidol University, the ASEAN Centre for Sustainable Development Studies and Dialogue (ACSDSD) and the University of New South Wales, Australia,
This is by giving importance to 3 aspects, namely the environment, society and good governance. At the heart of business organizations around the world is part of their management in order to create the highest benefit for the organization in the long term as well as being a part of solving global environmental problems, energy, and diversity in work. From the 20 organizations with the highest registered capital in the stock market only 7 organizations have been selected to be role models for sustainability for business organizations in Thailand because ESG is important to the sustainability of every business, whether small or large, she said.
“The working principle of ESG Tracker is a tracking system that monitors the efficiency and participation of the business sector in the SDGs, which will be analyzed under the following criteria:
- ESG Disclosure: Organizations must disclose information at a high-level, transparently, accurately, being useful information that benefits work evaluation. There is a process to investigate important issues from stakeholders and to assess their importance and impact.
- ESG Data Quality: The organization must have quality data, being accurate and relevant data in accordance with sustainability reporting guidelines, including the ability to review the data in various cases. It needs to be suitable for strategy and business activities of the organization which is the same criteria used by the Stock Exchange of Thailand to approve a listed company as a public limited company,” she explained.
For the CMMU-ESG AWARD in 2023, there are 7 award-winning organizations. Divided by industry type, they are, for the agriculture group: Thai Beverage Plc, for Banking and Finance: Kasikornbank Plc, for Construction: Siam Cement Group Plc, for Energy: PTT Global Chemical Plc, for Retail: Central Pattana Plc, for Telecommunications: Intouch Holdings, and there was the Best Disclosure Award where the winner was Delta Electronics.
The College of Management, Mahidol University (CMMU) is an institution that specializes in developing academic strength in management, business administration and sustainability in organization. It aims to produce students who are experts with academic knowledge and all-round skills in line with their needs and to cope with changes in industry and society. Both Master’s and Doctoral programs focus on developing management skills for sustainability and enabling students to analyze and develop sustainability strategies suitable for the industry. For those who are interested in pursuing a Master’s degree or would like to ask for more information they should contact the College of Management, Mahidol University (CMMU) Tel. 02-206-2000 or Facebook page: (https://www.facebook.com/CMMUMAHIDOL)
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