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Ban and Hillary Offer Flood Assistance to Thailand

United Nations Secretary-General and US Secretary of State Hillary Rodham Clinton have offered assistance to Thailand to deal with the flooding, which was described as the worst in the nation’s history.

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United Nations Secretary-General  and US Secretary of State Hillary Rodham Clinton have offered assistance to Thailand to deal with the flooding, which was described as the worst in the nation’s history.

Mr. Ban and Secretary Clinton met Prime Minister Yingluck Shinawatra on November 16 during their two-day visit to Thailand on November 16-17, when they had a chance to observe the flooding situation in Thailand.

The United Nations Secretary-General said that the flood crisis in Thailand was an unexpected incident, which should be taken as a lesson to prevent the recurrence of the disaster. He cited “prevention” as one of the five principles of the United Nations.

Prime Minister Yingluck said that the Thai government had prepared both short-term and long-term measures to tackle the flood problem. A comprehensive plan is also being worked out to handle water management to prevent flood disasters in the long run.

Secretary-General  Ban and US Secretary of State Hillary Rodham Clinton

Prime Minister Yingluck said that the Thai government had prepared both short-term and long-term measures to tackle the flood problem

In her discussion with Secretary Clinton, Prime Minister Yingluck thanked the United States for its assistance to support Thailand’s flood relief efforts. She reaffirmed that the Government would assist foreign investors whose businesses were damaged by floods. Thailand has been in discussion with the United States about the possibility of using U Ta-Pao Airport for humanitarian assistance and disaster relief.

Speaking at a joint press conference with Secretary Clinton, Prime Minister Yingluck pointed out that the damaging effect of this natural disaster on crops, cultivation, and food production was also an issue of great concern. The Government would have to address this issue in order to ensure the well-being of the people.

Secretary Clinton said that the United States had worked closely with the Thai government from the start of this flood and that it would continue to identify ways to support Thailand’s long-term recovery and rebuilding. It offered to help Don Mueang Airport, Thailand’s second largest airport, resume both commercial and passenger operations. She said that the United States was also working to improve Thailand’s capacity to prevent, prepare for, and respond to disasters, like this flood.

Prime Minister Yingluck is now on a visit to Indonesia to attend the 19th ASEAN Summit and Related Summits, to be held on November 17-19 in Bali. Apart from talking about the flooding situation in Thailand, she will take this opportunity to build confidence in the recovery and rehabilitation of the country after the flooding with cooperation and participation from all sectors. The Prime Minister will also aim to enhance cooperation and exchange experience in disaster management in all phases, from preparedness and relief, to recovery and rehabilitation, while focusing on water management.

via Inside Thailand — United Nations and United States Offer Flood Assistance to Thailand.

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Economics

Thailand’s Ministry of Finance expects 3.5 to 4.5% economic growth in 2022

For next year, the Ministry of Finance is projecting an economic growth of 3.5-4.5% from effective pandemic control measures, incentives, domestic spending, the export sector, private investment support, global economic recovery, and government expenditures.

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The Minister of Finance says Thailand’s economy this year would see only a 1.1-1.2% growth

BANGKOK (NNT) – The Ministry of Finance is now projecting an economic rebound to 4.5% growth next year, with government investments serving as key drivers. The Minister of Finance says the government will focus more on inclusive growth next year, with no sectors left behind.

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Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

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Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

What measures has SET taken to support listed companies’ compliance with ESG standards?
PAKORN PEETATHAWATCHAI:

PAKORN: When we first began promoting ESG-compliant investments, we were met with little interest. We attributed this to a lack of clear data to showcase the economic benefits of ESG investment, and perhaps limited clarity as to what constitutes a sustainable or ESG-compliant investment. The launch of the THSI list and, subsequently, the SETTHSI Index, was designed to address this. Our most recent data, comparing returns for the SETTHSI Index with the broader SET and SET100 indices from April 2020 to April 2021, underscores the economic benefits of these investments: the group compliant with ESG standards outperformed the other two indices on every data point. 

As of May 2021 Thailand was home to CG and ESG assets under management totalling BT54.8bn ($1.7bn) across 50 funds – up from 23 funds in 2019. Meanwhile, of the BT187.1bn ($5.9bn) raised in green, social and sustainability bonds since 2018, BT136.4bn ($4.3bn) was raised in 2020 – 83% from the government and the remainder from development banks and private players. This rising demand, in a move to manage risk and generate returns, has been complemented by growing supply and promotion: supply from ESG-compliant businesses aiming for resiliency and sustainable growth, as well as promotion from regulators highlighting investment opportunities with good CG and SD practices. Indeed, the pandemic has been a catalyst in shifting the view of ESG compliance from a luxury to a requirement in the new normal.

In what ways can enhanced standard-setting and regulatory mechanisms overcome the remaining barriers to improved ESG performance?

PAKORN: A multi-stakeholder approach is crucial for enhanced ESG performance – not only in Thailand, but around much of the globe. This can also help to address the standout incumbent challenge: access to reliable, wide-ranging ESG data. For example, the 2020 update to the 56-1 One Report established clear ESG standards and triggered online and offline capacity-building programmes to support listed firms’ compliance. SET is developing an ESG data platform with a structured template to promote the availability of comparable data, maximise value added from corporate sustainability disclosures, and foster collaboration between the business value chain and stakeholders. This is expected to support Thai companies along their ESG journey in an economically sustainable way, result in a greater number of sustainability-focused products and services, drive sustainable investing in the Thai investment community and ultimately “make the capital market work for everyone”, as outlined in the SET’s vision.
 

 

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