DRIVING ORGANIZATIONAL SUSTAINABILITY THROUGH THE ESG FRAMEWORK IN ENERGY BUSINESS LISTED IN THE STOCK EXCHANGE OF THAILAND

Abstract

Objectives of this research article were: 1. To examine models of innovation in ESG-based organizational management among energy businesses listed on the Stock Exchange of Thailand (SET); 2. To analyze organizational outcomes of ESG-oriented practices; and 3. To explore approaches to advancing sustainable development in Thailand’s energy sector under the ESG framework, conducted by the qualitative research. Data was collected through document analysis and in-depth interviews. Key informants were 10 senior executives selected through criterion sampling and case studies of 8 listed energy companies selected via purposeful sampling. Content analysis was conducted using inductive analysis and relevant theoretical frameworks for data interpretation.

The findings revealed that: 1. ESG served as a core framework for sustainable business, integrating environmental, social, and governance dimensions into strategic planning based on materiality assessments; 2. ESG implementation enhanced long-term business value, strengthened investor confidence, and supported comprehensive risk management; and 3. key approaches for advancing sustainability included preparing standardized sustainability reports (GRI or SASB), promoting ESG literacy at all levels, and fostering multi-sectoral collaboration for co-governance.