Mahanakorn Partners Group: Paving the Way

20 Mar 2025

Mahanakorn Partners Group: Paving the Way

Paving the way for ethical and sustainable business practices in Thailand. As the situation evolves, businesses must adapt. The only way to thrive in the long term is to meet rising demands for sustainability and ethical practices. Yet, for many organisations, the first step is often the most difficult. Thailand’s regulatory environment, combined with complex global ESG standards, presents unique challenges that must be navigated carefully.

With decades of experience, Mahanakorn Partners Group (MPG) has the expertise to guide companies on this journey. The firm has assisted businesses across industries in achieving sustainable success while aligning with Thailand’s national sustainability goals.

Among these goals are the ambitious targets of achieving carbon neutrality by 2050 and Net Zero by 2065. For this to happen, businesses must take a proactive role. MPG is uniquely positioned to support this transition.

The Road to sustainable growth

The Thai government’s proactive policies have created an environment conducive to sustainable business development. Tax incentives for sustainable investments, support for bio-economy projects, and regulations promoting energy efficiency and carbon reduction are among the initiatives already in place or on the horizon.

“The SEC Office’s proposal to integrate carbon emission expense deductions demonstrates the alignment of financial policies with environmental goals, encouraging organisations to adopt greener operational models,” Mr Luca Bernardinetti, Managing Partner of MPG, detailed. “Furthermore, regulatory advancements, such as the draft Ministry Regulation promoting sustainable investments, are designed to drive long-term capital flows toward projects that prioritise social responsibility and environmental impact. These frameworks provide businesses with the opportunity to embed ESG principles into their operations while contributing to sustainable national development.”

Understanding Thailand’s regulatory ecosystem is critical for firms seeking to align with the country’s emerging standards. Mr Bernardinetti highlights the pivotal role that sustainable finance will play in this process moving forward.

“Sustainable finance is the backbone of long-term growth,” Mr Bernardinetti said. “Thailand has made significant progress through mechanisms such as green bonds, sustainability-linked loans, and public-private partnerships in clean energy projects. Companies that integrate these financing models into their growth plans will not only remain competitive but will also contribute meaningfully to the nation’s sustainability goals.”

The role of governance

While environmental initiatives often take centre stage, sustainable development requires more than just environmental action. Corporate governance is equally critical in ensuring that businesses operate ethically and transparently.

“ESG-driven governance promotes transparency, accountability, and stakeholder engagement—three pillars essential for maintaining trust in a fast-changing market,” Mr Bernardinetti noted. “Thailand’s regulatory bodies are increasing their scrutiny of ESG reporting and performance metrics, making it imperative for businesses to establish robust governance frameworks that meet these growing expectations.”

For many businesses, navigating the complex web of compliance requirements can be overwhelming. Establishing effective ESG reporting mechanisms and internal controls from the ground up is not only time-consuming but also requires specialised knowledge of local regulations.

“MPG works closely with businesses to develop ESG policies, sustainability reporting frameworks, and internal controls that adhere to the highest standards of corporate ethics,” Mr Bernardinetti stated. “Our cross-industry expertise ensures that companies can seamlessly integrate ESG metrics into their decision-making processes, driving long-term profitability while maintaining compliance.”

Mr Bernardinetti also emphasised that as Thailand’s ESG policies continue to evolve, businesses must remain adaptable. Establishing internal governance structures, training employees, and aligning operations with sustainability targets are resource-intensive tasks that can pose challenges without proper guidance.

Taking the first step

For many businesses, the most significant hurdle is taking the first step toward sustainable development. Without proper guidance, companies risk an uneven and costly transition—or worse, falling behind their competitors.

“The key to success is a comprehensive, strategic approach that combines regulatory compliance, financial planning, and capacity building,” Mr Bernardinetti explained. “At MPG, we provide end-to-end advisory services, helping companies develop ESG policies, leverage government incentives such as tax benefits and investment subsidies, and implement training programs to build internal capacity.”

By offering tailored financial strategies and compliance support, businesses can transform ESG compliance from a regulatory obligation into a competitive advantage. Beyond meeting stakeholder and regulatory expectations, companies can drive meaningful environmental and social impact.

“Our mission is not just to help businesses comply but to position them for sustainable growth. ESG is no longer an option—it’s an imperative. And with the right guidance, businesses can thrive while making a lasting positive impact,” Mr Bernardinetti concluded