Thailand Introduces Mandatory ISSB-Aligned Sustainability Reporting Standards for Public Companies

Thailand has officially announced comprehensive new regulations that require public companies to adopt standardized sustainability and climate-related disclosures. The Securities and Exchange Commission of Thailand confirmed that the forthcoming reporting mandates will align directly with the international benchmarks established by the IFRS Foundation’s International Sustainability Standards Board. This regulatory shift aims to elevate the quality, consistency, and global comparability of corporate disclosures across the country’s capital markets.

Phased Implementation Schedule

The rollout of the mandatory framework will be executed in stages, beginning in 2028 with disclosures covering the 2027 financial year. Implementation will start with the largest market capitalization firms before expanding across the broader corporate landscape through 2031. The phased timeline is structured as follows:

• Constituents of the SET50 index will initiate reporting in 2028 based on 2027 performance data.
• Companies listed in the SET100 index will follow with their disclosures in 2029.
• All other companies listed on the Stock Exchange of Thailand will commence reporting by 2030.
• Secondary market entities, real estate investment trusts, infrastructure funds, and private funds will phase in requirements through 2031.

Transition Reliefs and Verification Requirements

Prior to this update, listed firms in Thailand had submitted environmental, social, and governance disclosures using various voluntary frameworks, including the Global Reporting Initiative Standards and the Task Force on Climate-related Financial Disclosures recommendations. The transition to a unified standard addresses previous inconsistencies in corporate reporting. To assist enterprises in building adequate data collection systems and internal capabilities, the Securities and Exchange Commission has incorporated several transition reliefs into the regulation.

Organizations will receive temporary exemptions from providing comparative historical information during their initial reporting cycle. Additional flexibilities include adjusted reporting timeframes, permission to use equivalent greenhouse gas calculation methodologies, and initial exemptions from disclosing Scope 3 emissions. However, the framework mandates that all greenhouse gas emissions data must be formally verified by accredited independent assurance providers using internationally recognized standards.