THAI UNION LISTED ON DOW JONES SUSTAINABILITY INDICES
Thai Union listed on Dow Jones Sustainability Indices for 8th Year in Row
By Amod Ashok Salgaonkar
Thai Union Group PCL has been listed on the Dow Jones Sustainability Indices (DJSI) for the eighth consecutive year, recognition of the global seafood leader’s efforts to drive positive change across its business and the wider seafood sector.
Thai Union was ranked number two in the world on the Food Products Industry Index of the DJSI, a family of indices evaluating the sustainability performance of thousands of companies trading publicly around the world. The Company achieved a 99th percentile ranking for total sustainability score.
In the two key dimensions of Governance & Economic and Environmental, Thai Union achieved a 99th percentile score while it received a 100th percentile score for the Social dimension.
Thai Union also received a 100th percentile score in 13 areas: Materiality, Risk & Crisis Management, Customer Relationship Management, Policy Influence, Supply Chain Management, Innovation Management, Health & Nutrition, Environmental Reporting, Environmental Policy & Management Systems, Water-related Risks, Social Reporting, Human Capital Development, Corporate Citizenship & Philanthropy.
“Achieving our sustainability targets takes an enormous amount of work and commitment. There are immense challenges for global businesses and the seafood industry that is continually evolving, so it’s a moment of great pride to see our Company again listed on the DJSI,” said Thiraphong Chansiri, President and CEO of Thai Union. “Our listing on the DJSI recognizes that sustainability is not only integrated across Thai Union’s business practices, but has become the way the Company does business. And while there is an incredible amount of work still to be done, we have great ambitions to continue pushing the transformation that will benefit the wider seafood industry.”
Thai Union has been listed on the Food Products Industry Index of the DJSI for eight straight years, including being ranked number one globally in 2018 and 2019. The DJSI announcement comes after Thai Union was last month ranked number one for the second consecutive time on the Seafood Stewardship Index (SSI) of the World Benchmarking Alliance, which assessed the contribution of the world’s 30 largest seafood companies to the United Nations Sustainable Development Goals.
“Thai Union has long been viewed as a sustainability leader, setting new, higher standards for others to follow,” said Adam Brennan, Group Director, Sustainability, at Thai Union. “With more work to do, our sustainability team is constantly pursuing new programs and initiatives around the world to ensure our strategy remains at the forefront of driving change, from strengthening our responsible sourcing, to developing more sustainable packaging, to helping tackle climate change. All of these efforts, of course, align with our corporate goal of Healthy Living, Healthy Oceans.”
Industry-leading sustainability measures Thai Union has already introduced or committed to include:
- Launching its Tuna Commitment 2025
- Committing to a full Employer Pays Principle for all recruitment of migrants to work in its Thailand-based operations, which Thai Union will transition to from January 1, 2022
- A Global Packaging Strategy to ensure 100 percent of its branded packaging is reusable, recyclable or compostable by 2025, as well as an average of 30 percent recycled content in its branded packaging by then
- Commitment on Food Loss and Waste Reduction
- Development of a Climate Change Strategy, including setting a goal in line with the Science Based Targets Initiative
- Policy on No Deforestation
Each year, the S&P Global Corporate Sustainability Assessment (CSA) conducts an evaluation of companies’ sustainability practices and assesses approximately 8,000 companies around the world. The CSA focuses on criteria that are both industry-specific and financially material.
Picture Credit: Thai Union