Siam Cement Group (SCG) has been named as Thailand’s most sustainable company, followed by energy firm PTT, a new study by Ipsos has found.
The Ipsos ESG Syndicated Study sought to explore the influence of ESG factors on consumer trust and brand loyalty, and incorporated insights from some 2,500 respondents.
‘By demonstrating a commitment to ethical business practices, employee well-being, community engagement, and environmental responsibility, companies can cultivate trust and foster strong customer relationships,’ Ipsos noted.
Business responsibility
It found that Thai consumers prioritise companies that demonstrate integrity, social responsibility, and environmental commitment, with 86% believing that businesses have a responsibility to contribute to society beyond generating profits.
In addition, Thai companies that focus on transparency, ethical practices, employee welfare, and community engagement were better positioned to earn – and maintain – consumer loyalty, according to the study.
The centrepiece of the report is the ‘Sustainability Index’, a single-number score that provides a quick assessment of a company’s sustainability performance relative to its competitors across various industries.
Strong performers
Within the country’s FMCG sector, Unilever came out on top, followed by Nestlé and Thai Beverage. In the financial sector, meanwhile, Kasikorn Bank (KBank) achieved the top position, with Krungthai Bank (KTB) and Siam Commercial Bank (SCB) ranking second and third, respectively.
‘While all three ESG pillars – Environmental, Social, and Governance – are considered important by Thai consumers, the study reveals a slight preference for companies demonstrating corporate responsibility. This includes factors like providing good employee benefits, having strong data protection programmes, and maintaining transparency in business operations,’ the report noted.
Commenting on SCG’s position at the top of the rankings for Thailand, Ipsos noted that the recognition underscores the group’s ‘commitment to sustainable practices and its positive impact on society and the environment’. Read more here.
