Display mode (Doesn't show in master page preview)

25 Jan 2023

Econ Digest

Business challenges…in the ESG dimension


        In 2023, countries around the world are grappling with economic uncertainty and stagnation, which may in turn affect sustainability or ESG operations of the business sector. For Thailand, the government has attached importance and issued various measures to promote policies that take into account the environment, and there is a strong trend in many countries/regions around the world to implement environmental measures. Kasikorn Research Center has compiled a variety of challenging issues that the business sector should be aware of, focus on and prepare for the following sustainability actions in 2023:

  1. Economic challenges: the global economy continues to face a high degree of uncertainty and the potential for a significant slowdown, as interest rate hikes by central banks around the world, volatile energy prices, and debt financing restrictions will affect business operations and ESG investment decisions.
  2. Thailand Taxonomy (Phase 1), a common guideline in classifying environmentally friendly activities, in the energy and transportation sector. Economic activities are classified into three groups, based on climate change mitigation: Green List, Yellow List and Red List. A business can use this classification to gain access to funding. Those classified in the Green List or Yellow List may have easier access to funding than those in the Red List.  
  3. Environmental measures will likely be more stringent globally, including the European Union’s Carbon Border Adjustment Mechanism (CBAM), the U.S. Clean Competition Act (draft), the European Union’s draft law on deforestation-free products, the trend toward stricter information disclosure requirements by global regulatory agencies including Thailand, the trend toward preventing Greenwashing, and the trend of the Anti-ESG Campaign.

        Aside from such challenges, the development and advancement of technologies such as Carbon Capture, Utilization and Storage (CCUS), plus those for fuel, renewable energy and clean energy production and consumption, may substantially help companies advance their ESG operations and eventually achieve their climate change mitigation goals as planned.

Scan QR Code

QR Code


This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow.

Econ Digest