Thai capital market rings the bell on International Women's Day to call for investment in women

To celebrate International Women's Day 2024 and its theme "Invest in Women: Accelerate Progress," the Stock Exchange of Thailand (SET), the Securities and Exchange Commission of Thailand (SEC), and UN Women once again hosted the "Ring the Bell for Gender Equality" initiative at the Stock Exchange of Thailand on 11 March 2024.

The main objective of the 'bell ringing' is to bring attention to the pivotal role the private sector can play in advancing gender equality to achieve the Sustainable Development Goals (SDGs), especially the role to foster a supportive environment within the capital market ecosystems.

"As a member of the World Federation of Exchanges (WFE), SET is delighted to participate in the 10th Ring the Bell for Gender Equality initiative in collaboration with partners in Thailand. SET actively promotes the role of women in business. We collaborated with CG evaluation organizations, and created our own SET ESG Ratings, which provided recommendations and indicators for listed companies to emphasize gender equality issues. For example, increasing the number of female directors on the board of directors will enhance both women's rights and equality, as well as the board's efficiency. In addition, SET is committed to promoting the "diversity, equity, and inclusion" philosophy, which encourages everyone to be treated equally, and drives every sector toward sustainable growth. As SET enters its 50th year of capital market development, we promise to drive long-term growth across all sectors by promoting the value of equality, in accordance with SET's mission: To Make the Capital Market 'Work' for Everyone." remarked Pataravasee Suvarnsorn, SET Senior Executive Vice President, Head of Operation Management Division, and Managing Director of Thailand Clearing House Co., Ltd.

Dr. Pornanong Budsaratragoon, Secretary-General, SEC, Thailand said that "the SEC is truly honored?to co-host the 'Ring the Bell for Gender Equality 2024' initiative that celebrates the International Women's Day and resonates the importance of gender equality. As a capital market regulator, one of our strategic priorities is to build an environment conducive to supporting listed companies in their integration of environmental, social and governance considerations into business practices. The social aspect, in particular, includes respect for human rights and gender equality. This strategic direction is in line with the 20-Year National Strategy and the fourth Capital Market Development Plan and contributes to the achievement of the UN Sustainable Development Goals, especially SDG 5 Gender Equality."

After the bell ringing, representatives from the International Finance Corporation (IFC), UN Global Compact, and private sector had an opportunity to exchange their insights during the "Investing in Women Exchanges" session under the theme "Investing in Women: A Human Rights Imperative" to shed light on how strategic investments in women can drive transformative change and propel us towards a more equitable future.

Lastly, the roundtable discussion "Shifting to a Green Economy and Care Society - Alternative Business Model" was held among speakers from different roles and actor organizations to exchange their perspectives on alternative business model and its implications on the 2030 future green and care economy.

"We had a stimulating conversation about the Green Economy and Care Society during the Roundtable Discussion. These alternative economic models offer a new approach towards a more inclusive, caring, and sustainable world. We must champion these business models, many of which are women-owned and women-led, ensuring that they have fair access to markets, financing, and opportunities within supply chains. In this regard, UN Women, under

the WE RISE Together programme supported by the Australian Government through the Mekong-Australia Partnership, has already taken a step to promote access to market capability and women's participation in the procurement system," said Sarah Knibbs, Deputy Regional Director of UN Women Regional Office for Asia and the Pacific.

As 2024 marks the 10th year of the "Ring the Bell" campaign around the world, by ringing the bell on International Women's Day, SET, SEC, and UN Women urge all stakeholders in the Thai capital market and beyond to invest in women, accelerate progress towards gender equality, and create a more just and sustainable future for all.

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