Electricity Generating : EGCO Group rated “AA” in SET ESG Ratings and “5-Star Excellent” in CGR assessment

Electricity Generating Public Company Limited or EGCO Group achieved two national sustainability ratings assessed and supported by the Stock Exchange of Thailand (SET) - "AA" level in the SET ESG Ratings 2023 and "Excellent" or 5-star level in the Corporate Governance Report of Thai Listed Companies 2023 (CGR 2023) assessment. The high scoring and rating have strengthened investors' confidence in the EGCO Group's status as a leading listed company and its commitment to integrating the environmental, social, and governance (ESG) principle in all business processes in consistent with the United Nations' Sustainable Development Goals (SDGs).

Mr. Thepparat Theppitak, EGCO Group's President, said that EGCO Group has been operating electricity generation and energy businesses for over 31 years with strong commitments to sustainable development, corporate governance, transparency, and accountability. Its mission is to be a good corporate citizen who takes good care of and lives in harmony with the environment, communities, and society. To achieve these commitments, the company has integrated the ESG principle into all business operations, which directly supports the United Nations' SDGs.

With such commitments and concrete actions, EGCO Group was rated "AA" at the SET ESG Ratings 2023. The assessment organized by SET is developed from the "Thailand Sustainability Investment (THSI)", in which EGCO Group was earlier selected to be part of this list for eight consecutive years. The first SET ESG Ratings assessment was introduced this year to emphasize and encourage growing sustainable investment trends. The new assessment has provided investors with more extensive information about listed companies with significant ESG practices, which will enable them to effectively make investment decisions.

EGCO Group was also rated "Excellent" or 5-star level in the CGR 2023 assessment arranged by the Thai Institute of Directors (IOD) and supported by SET. This year, EGCO Group's score was 104%, which was higher than the average score of listed companies of 81%. The CGR's new assessment criteria introduced this year are stricter in accordance with international standards that value continuous business growth in the long run and sustainability. It has also focused on the improvement and strengthening of the Board of Directors' leadership to be more proactive.

"The results of SET ESG Ratings and CGR this year are clear proofs of the success of EGCO Group in enhancing its business operations to be on par with the international business community. The strong results not only increase confidence in our business operations and ability to create added value to shareholders and investors, but also create a positive impact from within the organization on society and the environment. This is what we live for as a good corporate citizen and supports our vision to be "a major sustainable Thai energy company with full commitment to environment protection and social development support," said Mr. Thepparat.

About EGCO Group
EGCO Group has a total equity capacity of 7,023 MWe in operation and under construction. Total equity capacity from renewable energy is 1,418 MWe (equivalent to 20% of the total portfolio and growing). The RE portfolio includes biomass, hydropower, solar power, wind power, fuel cells, and battery storage. EGCO Group's facilities and other projects are located in eight countries, namely Thailand, Lao PDR, the Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition to power business, other energy-related businesses of the company include Thai Pipeline Network Co., Ltd. (TPN), EGCO Rayong Industrial Estate, Peer Power which is a new financial technology company, and Innopower which is a high tech start up incubator. EGCO Group has been named to the Dow Jones Sustainability Index (DJSI) for the last three years and aims to achieve Net Zero within 2050.