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image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Business Strategy an...arrow_drop_down
image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
Business Strategy and the Environment
Article . 2025 . Peer-reviewed
License: Wiley Online Library User Agreement
Data sources: Crossref
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Unlocking Synergies: Sufficiency Economy Philosophy for Sustainability

Authors: Sirimon Treepongkaruna; Pattarake Sarajoti; Veerawin Korphaibool;

Unlocking Synergies: Sufficiency Economy Philosophy for Sustainability

Abstract

ABSTRACTThe 2030 Agenda, represented by the Sustainable Development Goals (SDGs), signifies a global commitment to peace, prosperity, and sustainability. However, the lack of a unified strategy has slowed progress, raising concerns about meeting the 2030 deadline. Thailand's progress toward the SDGs has been influenced by various factors, including the role of the Sufficiency Economy Philosophy (SEP). This study uses corporate‐level data and Refinitiv ESG ratings as proxies for sustainability performance to assess the impact of SEP score, as a proxy for SEP disclosure, on corporate sustainability. We find that Thai firms with higher SEP scores tend to exhibit better sustainability performance, especially in the environmental and governance dimensions. Our analyses reveal a causal relationship between SEP scores and corporate sustainability performance, with a one standard deviation increase in the SEP score leading to a 35% increase in sustainability performance. The findings support our hypothesis that SEP fosters stakeholder engagement and long‐term value creation while aligning corporate strategies with sustainability goals, thereby contributing to the SDGs. Furthermore, the SEP score serves as a nonfinancial indicator that signals a firm's commitment to sustainability strategies.

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    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    3
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Top 10%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Average
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Average
Powered by OpenAIRE graph
Found an issue? Give us feedback
selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
3
Top 10%
Average
Average
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