Bangkok, July 18, 2024 -- Thai Union Group PCL. has received its second recertification from the Thai Private Sector Collective Action Against Corruption (CAC). Mr. Rapeepong Limwongthong, Company Secretary and Deputy General Manager – Legal, Compliance and International Tax, represented Thai Union at the CAC Certification Ceremony 2024: Business Beyond CAC: Spotlight on supply chain, to accept the certificate.
This recertification is a testament to the cooperation and commitment of Thai Union employees in adhering to the Company’s Anti-Bribery and Corruption Policy, a key policy that all employees are expected to strictly follow. The recertification underscores Thai Union’s unwavering commitment to transparency and good corporate governance, following international guidelines. This achievement highlights Thai Union’s persistent efforts to combat corruption, bribery and all forms of fraud.
Questions around this news
What does Thai Union’s second recertification recognize?
The release says the recertification recognizes cooperation among employees and their commitment to follow the company’s Anti-Bribery and Corruption Policy. It also presents the achievement as part of the company’s efforts to promote transparency and good corporate governance and to combat corruption, bribery, and fraud.
Who accepted the recertification certificate for Thai Union?
The company was represented at the CAC Certification Ceremony 2024 by Mr. Rapeepong Limwongthong, its Company Secretary and Deputy General Manager for Legal, Compliance and International Tax. The release says he accepted the certificate on the company’s behalf.
What does the CAC aim to do?
The release describes the CAC as an initiative established by Thailand’s private sector in 2010 to address corruption. It encourages businesses to operate transparently, promotes preventive guidelines, and uses a certification system intended to help companies apply operating standards and reduce corruption risks.
What is an anti-bribery and corruption policy?
An anti-bribery and corruption policy sets an organization’s expectations and rules for preventing improper payments, influence, or other corrupt conduct. It may describe prohibited behavior, employee responsibilities, reporting channels, and procedures for handling concerns. Such policies are one part of an organization’s broader compliance and risk-management practices.
The CAC, established in 2010 by the Thai private sector, aims to address and solve corruption issues. It encourages leading Thai businesses to prioritize conducting operations transparently and without corruption. The CAC also promotes active participation in resolving corruption issues by establishing preventive guidelines to create a transparent business ecosystem and develop a certification system to help companies implement operating standards, reducing corruption risks systematically and efficiently.
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Terms explained
- Recertification
- A renewed confirmation that an organization or process continues to meet the requirements of a certification program.
- Corporate governance
- The structures, rules, and processes used to direct and oversee an organization, including how decisions are made and accountability is maintained.
- Bribery
- Offering, giving, requesting, or accepting something of value to improperly influence a decision or action.
- Supply chain
- The connected network of people, organizations, activities, and resources involved in producing and delivering goods or services.
- Certification system
- A process for assessing whether an organization, product, or practice meets stated requirements, often resulting in formal recognition.
Earlier from Thai Union Group PCL.
- Thai Union opens its first Thai Union Global Shop at the Phenix Food Wholesale Hub in Bangkok
- Thai Union Collaborates with Thai Government to Achieve Zero Wastewater Discharge and Establish an Industry Learning Center
- Thai Union Recruits Young Talents for Management Associate Program 2024
- Thai Union Wins Thailand Labor Management Excellence Award 2023
- Thai Union wins Thailand’s 2023 National Innovation Award
