Muang Thai Life Assurance Integrating the concept of sustainable development and conducting business towards becoming a Leading Sustainable Insurer

Nowadays, the issue of sustainability and ESG concepts are issues that are being discussed more and more. and expand widely This is not just a business trend. But it is an issue that every business in Thailand gives importance to and applies to business operations. by the United Nations Defined the word Sustainability Or sustainability is said to be development that meets needs. A necessity for the current generation without disturbing the world and environment We must also give importance to the fair distribution of benefits. Take better care of the people at the foundation of society. which in practice Will focus on operations in 3 dimensions, or in short, ESG stands for Environment (Environment), Society (Social), and Governance & Economic (Governance & Economic) in order for our world to live sustainably. and the business can continue in the future

There are also other supporting factors such as climate change. Modifying various regulations (Regulatory Driven) of regulatory agencies Including expectations from society and the new generation, all of these are factors driving every business to pay more attention to sustainability issues in business operations today.

MTL's Sustainable Development Strategy

Muang Thai Life Assurance As a leading life insurance company in Thailand Recognizing the importance of developing and integrating the concept of sustainable development (ESG) into the company's business operations with the determination to be a "Leading Sustainable Insurer", the company operates in sustainability matters. serious The management and governance structure for sustainable development has been clearly defined. In order for the company's sustainability management to be driven and transfer goals to operations in various lines of work correctly and in harmony in the same direction For the benefit of all stakeholders Including setting a framework and operating policy for sustainable development. which covers both environmental dimensions, social dimensions, and governance and economic dimensions (ESG: Environment, Social, and Governance & Economic) and participation in efforts to achieve the success of the Sustainable Development Goals or Sustainable Development Goals (SDGs). of the United Nations

In driving the organization towards the sustainability path, The company has established a strategy for sustainable development. By combining ESG concepts with business operations, “Embedding Sustainability Into Our Own Operation” especially In the field of product and service development In addition to developing a variety of life insurance and health coverage products, It covers all needs of customers at every stage of their lives. The company has also brought in modern technology to develop services to appropriately meet the needs of customers in every lifestyle. and increase sales channels By connecting with a network of business partners (Ecosystem Partner) so that the company can create more comprehensive access to products and customer care, in order to make Muang Thai Life Assurance a brand that customers trust. In accordance with the "MTL Trusted Lifetime Partner" policy, ready to take care of and walk beside you in every stage of life.

For the sustainable development strategy “Embedding Sustainability Into Our Own Operation” consists of 3 main strategies. that covers all 3 dimensions (ESG) including

Mitigation of carbon emissions

Environmental Strategy It is committed to reducing greenhouse gas emissions and reducing environmental impacts from operations within the company. and throughout the organization's value chain with carbon reduction strategies (Decarbonization Strategy)

It aims to promote environmentally friendly operations, such as using electrical energy from solar cells. Gradually changing the company's cars from combustion cars to electric cars. Waste management in office buildings and branches to reduce the amount of waste that is disposed of in landfills. Changing to use environmentally friendly materials as well as adjusting work processes. and service With the increasing use of technology and digital

In addition, the company has established an environmental and energy conservation policy by considering environmental and energy conservation as the responsibility of executives at all levels. and every employee that must cooperate in strictly complying with the prescribed measures Including tracking, checking, developing and improving continuously. It is considered a sustainable integration of environmental and energy management systems.

Towards Stakeholders
Engagement

social strategy It is committed to creating lifelong access to health and well-being for all members of society. and provide protection and a sustainable life to employees With strategies to promote health and good quality of life of customers (Customer Health and Well-being) that promote health and good quality of life. Through training programs, investment, and partner network development. and innovation development of the company and strategies for enhancing potential and good quality of life for employees (Human Resource Management)

Human resource management including raising the level of employee welfare Increasing skills and knowledge in insurance and finance for employees and encourage the preparation of personal financial plans and retirement plans. As well as developing old skills and adding new skills to employees. To support the future business of the company

In addition, the company places importance on respecting human rights. And there are activities and activities for society. and promote volunteer activities among employees that continually creates benefits and positive impacts on communities, society, and the environment

Long-term value creation

Corporate governance and economic strategies By creating sustainable returns by operating on the basis of good corporate governance and risk management according to international standards, along with focusing on creating added value for society through products. and sustainable investment With the strategy of presenting insurance products responsibly (Responsible Insurance Product Offering), having products with insurance premiums that are appropriate, timely, and sufficient for the situation. And there is comprehensive coverage according to the needs of all groups of people to have access to insurance products and services thoroughly.

along with responding to the needs of specific groups of people including participation in driving regulatory change To promote responsible life insurance products and creating the growth of the health ecosystem (Health Ecosystem) and sustainable investment strategies. Using ESG factors (Sustainable Investment on ESG Issues), having an investment policy that takes into account environmental, social, and corporate governance and economic (ESG) factors and supporting preparedness for dealing with climate change.

Including guidelines for responsible investing and allocating investment funds to support projects related to ESG. In addition, the company is also concerned with controlling, inspecting, and providing knowledge and creating understanding. cyber security matters and protecting the privacy of customer information

From the sustainable development strategy mentioned above, it can be confirmed that Muang Thai Life Assurance Public Company Limited is another business organization that places importance on conducting business on the foundation of sustainability. Set goals to become a Leading Sustainable Insurer by conducting business under good corporate governance. and appropriate risk management Taking into account creating balance Both in the environmental dimension, the social dimension, and the corporate governance and economic dimensions. To create smiles and happiness for all stakeholders. Including all Thai people

Follow different columns In the October 2566 issue of Finance and Banking Journal Issue 498 In digital format: https://goo.gl/U6OnIi

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