“What started as a regulatory practice has now become an essential part of our strategic development and stakeholder trust-building,” says Mr. Supachai Ek-Un, CEO of Thailand’s Provincial Electricity Authority (PEA). It reflects the transformative journey of an organisation that has turned sustainability reporting from a compliance obligation into a catalyst for change.
In an exclusive interview following PEA’s Silver win for Asia’s Best Stakeholder Reporting at the 2024 Asia Sustainability Reporting Awards (ASRA), Mr. Supachai shares how the company is harnessing the power of transparency, data, and stakeholder engagement to build a more responsible and resilient future. From managing the complexities of large-scale data to aligning with global standards, he opens up about the challenges, learnings, and the strategic role of sustainability in shaping PEA’s long-term vision.
Why does your company publish a sustainability report?
Originally, PEA published the Sustainability Report to comply with evaluation responsibilities as a state-owned enterprise under the Ministry of Interior. But over the years, we realised that the report plays an even deeper role. Apart from the annual report which focuses on financials and operations, the Sustainability Report puts the spotlight on gaps in our environmental, social, and governance performance. Furthermore, it has become an important engagement tool for our stakeholders, hearing their voices and expectations. It helps us to learn important lessons that allow us to enhance our strategies and deepen our commitment to sustainability. Now, it is not just a report, it is a force of self-awareness, showing us where we must improve and driving an actual change within our organisation. What started as a regulatory practice has now become an essential part of our strategic development and stakeholder trust-building.
Which part of sustainability reporting did you find to be the most challenging?
with 33,000 people working in our organisation to distribute electricity and provide services to 22 million customers with good quality and affordable prices in Thailand’s provincial areas, we must ensure access to electricity country-wide. The biggest challenge for sustainability reporting is handling the massive pool of data. It starts with getting the right data — what to measure, how to collect it efficiently and systematically, in a proper way, and aligning with regulations. Then comes the complex exercise of cleaning, analysing, and comparing it against international standards. The real challenge, though, is not just processing this vast amount of data but using it to identify our strengths, uncover gaps, and implement actual change. Working with such a massive-scale pool of data. It takes constant refinement, collaboration, and investment.
How has your company benefitted from disclosing sustainability performance?
Disclosing our sustainability performance has contributed significant benefits to PEA. First, it enhances transparency and accountability, strengthening stakeholder trust, including regulators, customers, partners, and communities. Second, it helps us identify gaps and opportunities for improvement, allowing us to refine our strategies and set more effective ESG targets. Apart from that, sustainability reporting has taught us how to manage our data for decision-making, ensuring it aligns with international standards and global best practices. Most importantly, it has transformed our mindset, from seeing sustainability as mere compliance to integrating it into our long-term business strategy. We are not just reporting progress, we are actively building a sustainable future
What steps do you take to ensure that your sustainability report is reliable and credible?
To ensure our sustainability report is reliable and credible, we align it with internationally recognised GRI Standards, which enhances transparency and quality in reporting. Additionally, we engage an independent third-party external assurance to audit our reporting process, verifying the accuracy, completeness, and integrity of the information reported. This independent audit enhances stakeholder confidence and reinforces our commitment to accountability. By following these standards and processes, we can be certain that our sustainability report accurately portrays PEA’s true performance and drives meaningful improvements.
How do you think sustainability reporting will evolve in the next five years?
Over the next five years, there will be a considerable change in sustainability reporting due to stricter regulations, possibilities for turning into laws, higher stakeholder expectations, and technology advancements. As global frameworks like TCFD, ISSB, and GRI become more integrated or new frameworks emerge, there will be standardisation.
Furthermore, digitalisation and real-time data will emerge in a bigger role, with the growth of AI enhancing data accuracy, and automation. Finally, companies need to integrate sustainability reporting as a strategic tool to drive real impact, link ESG performance to financial outcomes, and demonstrate long-term resilience. At PEA, we recognise this change and are committed to continuously improving our reporting to meet future expectations
What advice would you offer to other companies striving to enhance their sustainability reporting practices and earn recognition in initiatives like the Asia Sustainability Reporting Awards?
For effective sustainability reporting, companies must first understand their own strengths and acknowledge their gaps. Our approach begins with deep self-assessment, identifying material issues that truly reflect our impact. Most importantly, we embrace our stakeholders’ voices, allowing their voices to improve our actions. The report then demonstrates the actual value of the practices in achieving true sustainability in the organisation.
