1. What is the strategic role of CSR for SET and what is the impact of CSR on the Exchange?
The Stock Exchange of Thailand is not only a fundraising platform that connects businesses and investors with financial mechanisms to drive the Thai economy, but also a social platform committed to creating social benefits, promoting the growth of Social Enterprise (SE) and building a network for social development, which aims to enhance the overall quality life in Thailand.
Since 2016, SET has launched the SET Social Impact Platform using the “Social Impact Multiplier” concept, which aims to serve as an intermediary connecting businesses, society, and related parties together in a partnership network to develop the strength and capabilities of SEs, so that they are able to access funding, develop skills and knowledge, and expand their networks to elevate their competitive edge. This effort has been achieved through four strategies: visibility, ability, workability and possibility:
- Visibility: Raising visibility and spotlighting SEs by connecting them with strengths in the business sector through online channels and offline activities.
- Ability: Enhancing capabilities and the competitive advantage of SEs through social entrepreneurs’ skills development, and equipping them with knowledge and experience that can be further leveraged and applied into their own business.
- Workability: Linking the business sector and SEs, jointly working to promote the creation of business deals that can help SEs build and strengthen their businesses – and thereby continuing to delivering social impact.
- Possibility: Creating social impact assessment as an important tool to monitor and communicate social impact performance of SEs to complete the social impact ecosystem.
2. Tell us about SET’s recent CSR initiatives including the SET Youth Music Competition. How do these initiatives benefit others beyond the Exchange?
- According to our vision, “To Make the Capital Market ‘Work’ for Everyone”, SET aspires to create SET social activities not only to enhance the physical and mental health, as well as the well-being of the Thai people, but also to create synergy among SET staff, capital market professionals and society as a whole. SET, in collaboration with various networks, supports the enhancement of individuals' capabilities, as well as that of organisations, communities or networks through these successful activities.
- SET has joined hands with more than 40 organisations and launched “Care the Bear” project to campaign for the reduction of greenhouse gas emissions. The campaign has encouraged companies to organise eco-events by providing eco-event kits and a greenhouse glass (GHG) calculator and carbon footprint advisory services. Consequently, Care the Bear has become an efficient tool for both personal carbon footprint reduction and corporate practices.
- SET has partnered with the College of Music, Mahidol University to organise the annual “SET Youth Musical Competition”, which provides opportunities and experiences for the youth to showcase their musical talents, ability and creativity constructively. This competition is a springboard for the winners to access international arenas. During the past two decades, more than 10,000 young musical contestants nationwide have submitted their works and performed to show their talent. Among those, some have grown up to become national and international musical professionals. Furthermore, this year, the competition will also be attended by students with disabilities and the elderly from various nursing homes, thereby aiming at enhancing equal opportunities and inspiring all in society. This focus on inclusivity is in line with SET's contribution to social impact activities that will help better the quality of living among the Thai society as a whole.
- SET has collaborated with Thailand Table Tennis Association to launch the project “SET Table Tennis for Everyone” with the goal of promoting this sport on a broader scale and to improve the health of Thai people of all genders and across all age groups, including underprivileged individuals and the elderly.
- SET, through Thailand Securities Depository Co., Ltd. (TSD), has encouraged shareholders to contribute to social development by donating their securities (a minimum of 1 stock) to a foundation under Royal Patronage. The foundation gathers the securities, or the benefits generated from those securities, to donate as a social contribution. The project also reduces the time and expenses required for preparing and delivering documents to shareholders that hold less than 100 shares. In 2018, a total of 394 investors donated their shares to the project with the number of stocks collected amounting to 1,012,976 securities, 2.5 times higher than in 2017.
3. Looking to the future, what CSR initiatives does SET want to develop or emphasise and how will SET ensure that CSR stays integral to the Exchange’s operations.
Changes in the global economy and rapid advancements in technology are prompting businesses in the capital market to adapt to maintain their competitiveness. SET has monitored these trends and key changes closely to ensure that the Thai capital market continues to grow, while serving as an effective mechanism for national development, in compliance with the United Nations Sustainable Development Goals (SDGs).
SET has embraced digital technology to provide entrepreneurs with efficient access to capital and to serve as a tool for spreading investment knowledge to the public in an equitable manner. We will continue to build the capital market as the centre for business opportunities and to provide knowledge on finance and investment to entrepreneurs, relevant agencies, and the general public. We are committed to driving all sectors of the economy towards inclusive and sustainable growth in line with our business strategy “Create Partnership Platform to Drive Inclusive Growth”.