On 9th February 2023, Pranda Jewelry Company Limited, leaded by Mr. Prida Tiasuwan, Chairman of Advisory Board, as an UN Global Compact Network Thailand’s network, joined “CEO Forum on Sustainable Finance : Scaling Up Sustainable Finance Solutions for Accelerating Progress on the SDGs” or the business leader forum, to elevate economic sustainability in order to accelerating SDGs progression, featured a gathering CEO, UN President, public finance, investors, and the private sector to cooperate and elevate economic sustainability, designated financial strategy and investment decision, which was important determinant to accelerating the process in order to reach the Sustainable Development Goals (SDGs). UNGC director announced confidence on the business potential in Asia, and launched a regional UNGC Hub in Bangkok.
Most important part of this forum was sustainable finance because of public finance and investors paid attention on sustainable development, which effected on business by elevating their finance and investment tools, in order to assist and reform the sustainable development efficiency. Especially in part of climate change, natural resources and other ecosystem fertility because natural asset is about half of the world’s economic. If the ecosystem is incomplete and various biodiversity, to maintain economic growth and human’s wellbeing would be more difficult. That is the reason why the UNSDGs executive went on to highlight five strategies for accelerating the progress and uptake of the UN’s Sustainable Development Goals (SDGs) in the private sector. These are 1) having clear targets and visibility, 2) leveraging market mechanisms and partners in the value chain, 3) promoting business leadership on sustainability, 4) empowering young emerging leaders to join as changemakers, and 5) creating a culture of innovation.
Moreover, everyone appreciated that business sectors play an important role and also elevated their sustainable finance in order to accelerating the progress of SDGs. The Asia and Oceania region will be of great importance in driving sustainable development forward, as it is home to more than 60 percent of the world’s population while more than two-thirds of the project global growth is expected to take place in the region. The regional UN Global Compact Asia & Oceania Reginal Hub will be launched in Bangkok soon.
This CEO Forum, also included a roundtable for chief executives from more than 20 UN GCNT member organizations discussing opportunities and challenges in elevating their sustainability finance and investment strategies. The business leaders agreed that sustainability is an important permission ticket that every business must include in their management. In addition to key performance indicators, organizations need to focus on sustainability target indicators (Key Impact Performance). The visibly example is, the management of greenhouse gas emissions, that challenged the Scope 3 management. Thus, in order to elevate sustainable finance must be covering their entire supply chain as well as their suppliers, most of which are SMEs to ensure that they are able to follow the sustainability, such as accessing sustainable funding sources, clean technology and knowledge exchanges. This will be advantage for large organization and SMEs. Nowadays, consumers, especially new-generations give an importance on sustainability, both ethical and environmental effects. Moreover, the financial sector, banks and investors are increasingly interested in investing in sustainable projects too.