08/08/2016

Thai Union ranked in the top 25 for transparency among 100 multinational companies

Thai Union Group PCL (Thai Union) ranked as the top seafood company and one of the top 25 emerging markets companies with best disclosure practices and transparency standards in a recent report from Transparency International.

Thai Union ranked 21st with a score of 5.6 out of 10 — higher than the average of 3.4 — and is one of 25 companies scoring 5.0 or higher.

The Transparency in Corporate Reporting: Assessing Emerging Market Multinationals report evaluates the disclosure practices of 100 major emerging market multinationals headquartered in 15 countries and active in 185 countries. It assesses the public disclosure practices on three dimensions: first, the reporting of key elements of their anti-corruption programmes; second, the disclosure of their company structures and holdings; and, third, the disclosure of key financial information on a country-by-country basis. The information was gathered from corporate websites and other publicly available sources by a team of Transparency International researchers. Thai Union was among 23 companies that provided feedback to validate the initial result of the Transparency International research team.

“Doing business with complete transparency and a focus on sustainability is as important as offering the best products and services to customers and consumers,” said Darian McBain, PhD, group director of sustainable development at Thai Union. “We made our commitment to transparency, good governance and sustainability in our Business Ethics and Labor Code of Conduct and our Sea Change sustainability strategy. We live by our values and our code, working hard to lead real and positive change in our industry and our communities.”

Transparency International, the publisher of the report, is a Berlin-based civil society organization with over 100 chapters around the world. It was established in 1993 with a mission to create change towards a world free of corruption.

“Such an assessment by a highly regarded international NGO reflects that we are moving in the right direction towards truly sustainable business,” McBain added.

For the full report please go to Transparency International’s web page: https://www.transparency.org/whatwedo/publication/transparency_in_corporate_reporting_assessing_emerging_market_multinat