A/HRC/41/43/Add.3 UNGPs, the OECD Guidelines for Multinational Enterprises, ISO 26000, the International Finance Corporation (IFC) Performance Standards, and international labour standards set by the ILO, among others. 9. As mentioned in the Report, the Global Compact Network Thailand (GCNT), Thai Chamber of Commerce, Federation of Thai Industries and Stock Exchange of Thailand (SET) have continued efforts to encourage their members to align their practices with international standards as well as the initiatives on training and workshops on human rights due diligence. Meanwhile, the SET was awarded the UN Sustainable Stock Exchanges (SSE) Market Transparency Award and ranked seventh among 35 global stock exchanges in 2018, moving up from 40th in 2013. It is also the only Asian stock exchange to reach the top 10. The SET has also supported its listed companies in integrating environmental, social and governance (ESG) aspects into business strategies and operations through a variety of capacity-building tools, including sustainability training, consultancy and assessments. The State as an economic actor (Paras. 14-15) 10. Pursuant to the Prime Minister’s instruction for Thailand’s 55 State-owned enterprises (SOEs)2 to show leadership in aligning their practices with the UNGPs, the “Improved Principles and Guidelines for State-owned Enterprises’ Good Governance” have been approved by the Cabinet on 26 March 2019. They have set clear expectations for SOEs, including in the areas of enhancing the participation of stakeholders, sustainability and innovation as well as disclosure and transparency in line with OECD corporate governance practices and the World Bank’s Corporate Governance of SOEs toolkit. In addition, the Act on the Development of Supervision and Management of SOEs, which took effect on 23 May 2019, will enhance SOEs’ performance in terms of effectiveness, efficiency and good governance. 11. The Government Pension Fund (GPF), which is one of the country’s largest institutional investors, has adopted corporate governance and ESG practices and promoted them in the investment community. Environment and social impact assessments (Paras. 17-22) 12. According to the National Human Rights Commission of Thailand, between 2001 and 2017, a total of 10,824 cases were reported to it. Of this number, some 2,199 concerned business activities. The Commission found that 552 of the total complaints had merit and 151 cases demonstrated actual business-related human rights impacts. 13. To strengthen its EIA/EHIA process, Thailand has enacted the Enhancement and Conservation of the National Environmental Quality Act (No.2) B.E. 2561 (2018) (Amendment), which came into effect on 18 July 2018. In line with Sections 58 and 278 of the 2017 Constitution, key amendments include the following: (i) Strategic Environmental Assessment (SEA) results shall be considered in the EIA/EHIA assessment for any project that SEA is required; (ii) a health assessment is required for “significant projects”; (iii) EIA reports shall be valid for development project application only within five years from the approval date; (iv) compliance reports shall be prepared in line with the measures specified in the EIA report, and submitted to the development approving authority at least once a year; and (v) non-compliance penalties include a fine not exceeding 1 million Thai Baht on developers who commence construction before the EIA report is approved or is deemed to be approved and daily fines not exceeding 100,000 Thai Baht throughout the period of construction. 2 The 55 SOEs include some of the largest enterprises, investors and banks, such as the Electricity Generating Authority of Thailand, the Industrial Estate Authority of Thailand, PTT Public Company Limited and Krung Thai Bank Public Company Limited. 3

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