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9.3 Case Studies of CSR in Large Corporations in Thailand

In 2015, many businesses in Thailand began widely adopting the SDGs as a framework for
implementing their CSR initiatives. This shift was clearly reflected in the sustainability reports
of various companies. The SDGs helped bring greater clarity and direction to CSR efforts by
aligning them with three primary pillars: Environmental, Social, and Governance, commonly
referred to by the acronym ESG. This alignment reflects a recent trend in which ESG is
increasingly regarded as a form of license, not only for businesses to continue operating, but to

do so with legitimacy and public acceptance, including the right to earn returns without
encountering societal resistance, as discussed earlier.

To provide a more concrete and practical understanding of CSR in action, the following are
examples of five prominent Thai corporations known for their exemplary CSR practices: (1) PTT
Public Company Limited, (2) The Siam Cement Public Company Limited (SCG), (3) Kasikornbank
Public Company Limited, (4) Thai Beverage Public Company Limited (ThaiBev), and (5) Charoen
Pokphand Group and its affiliated companies. All five companies are Thai firms recognized in
the DJSI World (Dow Jones Sustainability Index 2023), a global sustainability benchmark that

evaluates companies based on environmental, social, and governance (ESG) criteria.

(1) PTT Public Company Limited

PTT is classified within the resources industry group, which comprises two sub-sectors: (1) the
energy and utilities group and (2) the mining group. Companies in this industry group are
typically large-scale enterprises requiring substantial capital investment. Because their
operations involve the use of national natural resources, often through government
concessions, they tend to produce externalities that affect both the environment and society.

As a result, companies in this sector are frequently among the first to recognize the importance
of prioritizing ESG. PTT’s commitment to ESG is clearly reflected in its CSR activities, with the
company explicitly outlining its objectives and implementation approach on its website and in
its sustainability reports. In its most recent disclosure in 2023, PTT stated that it “adheres to
three key operational dimensions: Environmental, Social, and Governance, with a focus on
integrating the capabilities and expertise of each company within the PTT Group to collectively
generate positive and holistic social impact.”

For the 2023 fiscal year, PTT allocated a total of 1,018.79 million baht toward social investment
(see Table 9.2), representing 1.08% of its operating profit. This is consistent with its policy of

allocating at least 1–3% of operating profit for social investment during the 2020–2024 period.
The company divided its social investment budget into three parts (see Box 9.4): (1) Donation-
based support, accounting for 26.83%; (2) Corporate Social Responsibility (CSR) project-based
activities, accounting for 71.61%; and (3) Social Enterprise (SE) operations, accounting for 1.56%

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