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Thailand aims to be first in Asia to implement UN principles

Thailand is aiming to be the first in Asia to have a plan for the implementation of the United Nations Guiding Principles on Business and Human Rights (UNGPs).

The Ministry of Justice of Thailand, Global Compact Network Thailand and UN Development Program (UNDP) co-hosted the National Dialoque for Sustainable Financing perspective and experiences of Sustainability Financing Program. The conference was presided by H.E. Somsak Thepsuthin, Minister of Justice of Thailand and participated by leading corporates and organizations in Thailand including KBANK, Bank of Thailand, Government Pension Fund, PTT, BTS, Robobank, Minor group

Among the key measures is the principle of sustainable financing, in which financial institutions will be urged to promote the practice of responsibility in doing business when considering applications for loans, environmental and social responsibilities, and corporate good governance.

This will be an element in sustainable investment promotion. Economic growth can lead to problems such as income inequality, damage to natural resources and human rights violations.

Therefore the government treats business and human rights promotion as a key activity under its agenda on human rights.