MFEC: A Case Study in Sustainable Business Practices (ESG Rating)


MFEC, a stalwart in the Thai stock market for over two decades, has consistently delivered robust financial performance while upholding fairness for its shareholders. In 2022, it embarked on a journey to elevate its commitment to sustainability by embracing a Sustainable Business Model. This strategic shift aims to foster the company’s long-term growth by effectively managing environmental and social impacts alongside maintaining high standards of corporate governance. 

Environmental Initiatives (E)

MFEC has undertaken several measures to mitigate its environmental footprint. It has conducted thorough assessments of climate change risks and devised strategies to address them. Furthermore, the company initiated the “CLEAN-DARE-SHARE-ACTION” campaign to encourage resource conservation and carbon footprint reduction among its employees. Complementing these efforts, MFEC has established a waste management system guided by the principles of Reduce, Reuse, Recycle, Repair, and Reject (5Rs). 

Social Initiatives (S)

MFEC prioritizes social responsibility by fostering a culture of innovation and technological advancement that empowers individuals and improves society’s quality of life. This commitment extends to comprehensive human rights practices. The company’s social responsibility efforts are divided into two key areas: 

  • Internal Social Initiatives: This focuses on creating a positive and fair work environment for its employees. Right from the recruitment process, MFEC emphasizes equality and fairness. They offer competitive benefits and compensation packages, a healthy and suitable work environment, and targeted development programs that align with career progression. Additionally, the company prioritizes employee safety and wellbeing through strong occupational health and safety practices. MFEC fosters open communication and encourages employee participation in discussions to ensure benefits remain relevant, comprehensive, and adapt to evolving work practices. 
  • External Social Initiatives: MFEC recognizes the impact its business has on the broader community. They actively engage with stakeholders through surveys and open channels for feedback. As a leader in innovation, MFEC develops technologies that benefit its vast customer base, with 80% operating in the stock market and over 68 million users relying on MFEC services. Beyond its core business, MFEC actively promotes digital inclusion through various initiatives. They undertake more than five projects annually that aim to increase access to digital technologies within society. Ultimately, these efforts contribute to reducing unemployment rates in the Thai labor market. 

Governance Initiatives (G)

MFEC is committed to upholding the highest standards of corporate governance. The company has consistently received a 5-star “Excellent” rating in corporate governance evaluations for the past five years. MFEC continuously reviews and updates its corporate governance policies and business ethics manual to ensure they are aligned with evolving regulations and international standards. The company’s commitment to ethical business practices is further demonstrated by its membership in the Thai Private Sector Collective Action Against Corruption (CAC). MFEC encourages its business partners to join the CAC to promote a transparent and corruption-free business environment.

As a comprehensive technology solutions provider, MFEC recognizes the importance of cybersecurity and data protection. The company has implemented robust policies and standards to safeguard its systems and protect the sensitive data of its customers, employees, and partners. MFEC is committed to providing the highest quality services, as evidenced by its ISO/IEC 20000-1 and ISO/IEC 27001 certifications.

MFEC stands out as a beacon of sustainable business practices in Thailand. Through its holistic approach encompassing environmental stewardship, social responsibility, and robust governance, the company is poised to shape a more sustainable future for the nation. 

Key Takeaways

  • MFEC, a longstanding player in the Thai stock market, embraced a Sustainable Business Model in 2022 to drive long-term growth. 
  • The company has implemented various environmental initiatives, including climate risk assessments, the “CLEAN-DARE-SHARE ACTION” campaign, and a comprehensive waste management system. 
  • MFEC prioritizes diversity, inclusion, and community engagement through equitable workplace policies, employee development programs, and community support initiatives. 
  • With a strong focus on corporate governance and economic sustainability, MFEC exemplifies a commitment to ethical conduct and value creation for shareholders.