12.2.8 Minimisation policies extended to suppliers
Metric: Operational measures
Minimisation policies extended to suppliers
Ensuring these policies extend to outsourced suppliers and the supply chain - (suppliers of equipment, stationary, building contracts)
Prince of Songkla University (PSU) is driving its development toward sustainability in alignment with the 17 Sustainable Development Goals (SDGs). The university recognizes the importance of energy reduction and lowering greenhouse gas emissions, ensuring a sustainable approach to production and consumption. This includes effective and sustainable resource management, reducing the release of harmful chemicals and waste into nature, and ensuring proper waste management through processes like Reuse and Recycle.
Prince of Songkla University, as a state-supervised higher education institution, has key objectives to be a leader in academia, to produce graduates who create value for society, and to contribute to social development on a multicultural foundation.
The University recognizes the importance of Environmental, Social, and Governance (ESG) issues and incorporates them into its financial investment decision-making. This is to achieve sustainable social and environmental development goals, with transparent and responsible investment governance.
Objectives:
- To support financial investment decision-making of the University.
- To support the Sustainable Development Goals (SDGs) and Nationally Determined Contributions (NDCs).
Framework for Financial Investment:
The University establishes three key criteria for consideration in both direct and indirect investments, including the selection of financial institutions as investment advisors and service providers. The criteria are as follows:
Criterion 1: Business Conduct of the Company
1.1 The company operates ethically, prioritizing human rights and treating key stakeholders—such as customers, partners, employees, and shareholders—fairly and equally.
1.2 The company does not engage in businesses that negatively impact the economy, society, or environment, such as gambling, human trafficking, arms trading, and animal cruelty. This also includes companies whose primary revenue comes from alcohol and/or tobacco.
1.3 The company does not engage in fossil fuel-related energy businesses, unless it has a clear plan or active transition toward clean energy operations.
Criterion 2: Transparency in Business Operations
2.1 The company adequately discloses business and financial information to the public within an appropriate timeframe.
2.2 The company provides stakeholders with accessible channels to obtain information, contact relevant persons, ask questions, and provide feedback appropriately.
Criterion 3: Good Corporate Governance
3.1 The company has an appropriate board structure, size, and composition, consisting of qualified individuals aligned with responsible and sustainable business practices.
3.2 The company has an appropriate number of independent directors in accordance with recognized standards, such as those of the Thai Institute of Directors (IOD) or other reputable institutions.
3.3 The company has processes to prevent conflicts of interest and implements appropriate measures when such conflicts arise.
3.4 Executives, directors, and controlling shareholders have no history of legal violations related to corruption, bribery, embezzlement, or other actions that could damage the company.
Reporting and Monitoring:
Annual reports on financial investments under this Sustainable Investment Policy shall be submitted to the Asset Management Committee of Prince of Songkla University. The policy shall be reviewed alongside the University’s investment plan or as deemed appropriate by the Committee.
