The Launch of TNCC ESG Report
ESG – More Than Charity and Environmental Concern
The year 2025 marks the 120th anniversary of diplomatic relations between Norway and Thailand, a milestone that provides an opportunity not only to celebrate our shared history but also to look forward to a bright and sustainable future. Both countries are committed to strengthening bilateral ties, with a special focus on sustainable development and Environmental, Social, and Governance (ESG) practices as the keys to long-term success.
To mark this historic year, and with the support of the Royal Norwegian Embassy in Bangkok, the Thai-Norwegian Chamber of Commerce (TNCC) is pleased to launch the TNCC ESG Report. This online publication highlights how Norwegian, Thai, and international companies apply ESG principles and the UN Sustainable Development Goals (SDGs) in their operations. The report presents detailed, real-world examples of corporate responsibility, providing valuable insights into strategies and outcomes that can inspire businesses across sectors.
The Message from the President of Thai-Norwegian Chamber of Commerce
Here in Thailand, the term ESG is often viewed as a combination of CSR and environmental concern. The term CSR, in turn, is often used to describe a company’s charitable activities. While charity and environmental concerns are important elements of corporate Environmental, Social and Governance policies, there is far more to ESG than just these.
Anyone can look up the definition of ESG, but implementing such policies is a completely different ballgame. This is where Norwegian companies have made a real difference. One thing is to do what is prescribed by law; another is to believe in the core concept and implement policies that often go further than what legislation requires. In addition, third-party independent audits help ensure compliance.
An often overlooked area of ESG policies is governance. Governance can be summed up as ensuring fair, transparent and responsible decision-making structures within the company. Needless to say, that means zero tolerance for corruption.
Norway was a forerunner when, in 2003, it introduced gender quotas for corporate boards of publicly listed and state-owned companies. By 2009, the 40% target for female board participation had been reached. However, many private companies are still lagging behind, with only around 20% of board members being women. Still, the percentage for private companies is gradually increasing as more qualified women become available for board positions. In Norway, we also see a growing number of women in senior management positions, which is contributing positively to fair and equal opportunities for all — a key principle of Norwegian policy. Another area that we in Norway often take for granted is transparency in decision-making, especially in cases where the general public is involved. The Norwegian government’s insistence on clear and transparent policies fosters greater trust among the population.
These are just some of the areas where Norway can lead by example for the rest of the world, including Thailand. If there is one area I would especially like to see implemented in Thailand, it is greater transparency in government policies, which would provide better predictability for investors. Many of us who have been in Thailand for decades want the country to prosper. Fair, transparent and responsible decisions lead to prosperity. Prosperity, in turn, leads to a positive outlook for investors seeking opportunities to expand into the region.
On that note, let me end by thanking Norwegian-related companies in Thailand in particular, who are contributing excellent ESG examples for the future — many of which are highlighted in this ESG Report. — Axel Blom, President of Thai-Norwegian Chamber of Commerce
About Thai-Norwegian Chamber of Commerce (TNCC)
The Thai-Norwegian Chamber of Commerce was founded in 1996 with the aim of facilitating increased trade and investment between Norway and Thailand. It provides members with a forum to improve business conditions and opportunities as well as creating venues and channels for exchange and sharing of information. The chamber organises business related events from breakfast meetings covering current business affairs, to topical business seminars and networking events featuring guest speakers.
For other interesting articles from our members and chamber activities, please visit our website.
