The Thai ESG ตัวติดตามกฎระเบียบ
One maintained, bilingual map of the rules reshaping disclosure for SET & mai-listed companies — the SET ESG → FTSE Russell transition, TSRS/ISSB phase-in, แบบ 56-1 One Reportและ EU CBAM. What it is, who it hits, when it lands, and what to do now.
the benchmark
in 2025
relief
disclosure
- 01SET ESG Ratings retired for FTSE Russell scores
- 02FTSE scores off your public disclosure
- 03TSRS/ISSB climate disclosure phasing in
- 04CBAM definitive regime hits Thai exporters
Five regimes, one table.
Everything a Thai listed company’s disclosure team is tracking right now. Phase-in dates follow the SEC’s Thailand ISSB Adoption Roadmap as published on SET’s ISSB Standards Information Hub, and the FTSE Russell dates follow SET’s official Guideline to FTSE Russell ESG Scores. Reviewed 11 August 2026.
| Regime | What it is | Who it hits | Key dates / phase-in | Status | What to do now |
|---|---|---|---|---|---|
| SET ESG → FTSE Russellการเปลี่ยนผ่านสู่ FTSE Russell | SET is retiring its own SET ESG Ratings and adopting FTSE Russell ESG Scores as the domestic benchmark. LSEG & SET also launched the FTSE4Good Thailand Index. | All SET & mai issuers assessed for ESG standing (265 firms qualified in 2025, ~70% of combined market cap). | Pilot ran 2024–2025 (scores undisclosed). First public scores December 2026, for every assessed company. Voluntary entry runs 31 Mar invitation → 30 Apr ESG Data Platform ≥85% and ESG-approver signed → 6 May export published on your own website in Thai และ English, application filed → 5 Jun confirmation. | Active 2026 | FTSE scores off public disclosure only — no questionnaire, so the English document is the evidence. Volunteers are capped at 50 by completeness, and SET requires the platform export published in both Thai and English. Assessment itself is free. |
| TSRS / ISSB (IFRS S1–S2)มาตรฐาน TSRS ตาม ISSB | Thailand Sustainability Reporting Standards align to ISSB IFRS S1 (general) & S2 (climate). Mandatory, phased sustainability & climate disclosure for listed companies. | Phased by size: large-cap first, stepping down to all listed, mai, new mai IPOs, REITs, Infrastructure Trusts & Property/Infra Funds. | Confirmed ladder — first mandatory financial year (first report): SET50 FY2027 (2028) · SET100 FY2028 (2029) · all remaining SET FY2029 (2030) · mai, REITs, IFF/IFT and property funds FY2030 (2031). | Phasing in | Take the reliefs deliberately: climate-first for 5 years, Scope 3 deferred 5 years, One Report–S may be filed separately from the financial statements for 5 years, other GHG methods accepted initially, and comparatives waived in year one. But Scope 1 and 2 need limited assurance — build the inventory to that standard now. |
| แบบ 56-1 One Reportแบบ 56-1 One Report | The merged annual filing (old 56-1 + 56-2). ESG/sustainability disclosure sits on a comply-or-explain basis within a fixed clause architecture. | Every SET & mai-listed company, filed to the SEC in Thai. | Annual — due within the statutory window after fiscal year-end. | In force | English investor copy must map clause-by-clause to the Thai SEC filing — no drift between the two versions. |
| CBAM (EU border carbon)มาตรการ CBAM ของสหภาพยุโรป | The EU Carbon Border Adjustment Mechanism prices embedded carbon in imports. The definitive regime (with financial obligations) succeeds the 2023–2025 transitional phase. | Thai exporters in steel, aluminium, cement, fertiliser, hydrogen & downstream goods. | Transitional reporting 2023–2025; definitive regime from 2026 (certificate obligations). | Definitive 2026 | Build TGO-aligned Scope 1 & 2 (and product-level) GHG accounting now; line up independent verification. |
| TCFD → within ISSBกรอบ TCFD ภายใต้ ISSB | TCFD’s four pillars (governance, strategy, risk, metrics & targets) are absorbed into IFRS S2. The disclosure logic persists even as the standalone framework retires. | Any issuer building climate disclosure — the S2 backbone. | TCFD monitoring wound down 2024; logic continues under IFRS S2. | Absorbed | Structure climate narrative on the four pillars so it maps straight into IFRS S2. |
Orientation map, not legal advice. Verify specifics against SEC Thailand, SET and the European Commission for your filing year. Othello maintains this page as rules finalise.
★ The flagship report · FreeThis table is Chapter 3 of The State of Thai Corporate Climate Disclosure 2026 — 10 chapters, sector scorecards, and our full TGO-registry analysis. Read it →Thailand’s disclosure timeline.
Phase-in from the FTSE pilot to full sustainability disclosure, on the SEC’s confirmed roadmap. Dates step down by issuer size — the mid-cap and mai window is where most preparation gets left too late.
- ’252024–2025
FTSE pilot & consultation
SET runs the FTSE Russell scoring pilot (scores undisclosed); SEC finalises TSRS implementing rules after the public consultation.
- ’262026
FTSE becomes the benchmark · CBAM definitive
FTSE Russell methodology is the domestic ESG reference and the first public scores land in December. EU CBAM definitive regime begins. SET50 build year — systems and inventory have to be standing before FY2027 opens.
- ’27FY2027
SET50 first mandatory year
SET50 issuers report climate-first under IFRS S2 for financial year 2027, filed in 2028. SET100 follows one year behind. English disclosure quality now directly shapes FTSE scores.
- ’29FY2029–FY2030
Mid-cap & mai step-in
All remaining SET companies from FY2029; mai, REITs, infrastructure trusts and property funds from FY2030 — the segment the Big 4 price out.
- ’31~2032
Full sustainability disclosure
The 5-year climate-first relief closes tier by tier — FY2032 for the SET50 cohort; issuers move to full IFRS S1 + S2 sustainability disclosure and Scope 3.
The tracker, explained.
Straight answers on the transition every SET disclosure team is navigating in 2026.
01Is the SET ESG Rating really being discontinued?+
Yes — SET is transitioning its domestic ESG assessment to FTSE Russell ESG Scores, with LSEG and SET also launching the FTSE4Good Thailand Index. A pilot ran through 2024–2025 with scores undisclosed, and the FTSE methodology becomes the working reference from 2026. Always confirm the exact status against SET and SEC notices for your reporting year.
02What is the “climate-only” transitional relief under TSRS?+
Thailand’s ISSB-aligned rollout permits eligible issuers to report climate disclosure (IFRS S2, plus relevant S1) for an initial period — reported as roughly the first five years — before full sustainability disclosure is required, along with year-one relief from comparative-period figures. It lets companies start with a defensible GHG inventory and climate narrative rather than everything at once.
03Why does the FTSE transition favour bilingual disclosure?+
FTSE Russell scores companies largely off their public English-language disclosure. Under the old SET rating, the Thai filing carried the weight; under FTSE, your English report is what gets read and scored. That structurally rewards companies whose English disclosure is accurate, complete and framework-legible — not merely translated. This is where clause-mapped bilingual disclosure becomes a scoring advantage.
04Does CBAM affect my company if we only sell within Thailand?+
Directly, only if you export covered goods (steel, aluminium, cement, fertiliser, hydrogen and certain downstream products) into the EU. Indirectly, CBAM is pushing GHG accounting and verification expectations down supply chains, so Thai suppliers to exporters increasingly need TGO-aligned Scope 1/2 data too.
05How current is this tracker?+
It reflects the Thai regulatory picture as of mid-2026 and is framed with status pills rather than hard dates where phase-in timing is still settling. Treat it as an orientation map, not legal advice — verify specifics against SEC Thailand, SET and the European Commission for your filing year. Othello updates it as rules finalise.
One short email when a rule moves.
This tracker, delivered. A deadline-and-rule-change alert for Thai disclosure teams — nothing else:
- TSRS / ISSB phase-in dates as they finalise
- 56-1 One Report filing windows & clause changes
- FTSE Russell assessment-cycle timing
- CBAM obligations touching Thai exporters
Turn the rules into a filed report.
We build the bilingual disclosure that reads correctly in Thai for the SEC and scores well in English for FTSE Russell — clause-mapped, terminology-locked, delivered under NDA.
