The SEC is seeking public comments on proposed amendments to Sustainability-Linked Bond regulations, enhancing flexibility, aligning with international standards, and allowing new financial features linked to sustainability KPIs.
The Securities and Exchange Commission (SEC) is seeking public comments on draft amendments to the regulations for the issuance and offering of Sustainability-Linked Bonds (SLB) to increase flexibility and align with international developments in SLB issuance and offerings, while maintaining appropriate investor protection.
The SEC regulations for SLB issuance and offerings, effective since 16 May 2021, aim to support diversification of financial product types that address sustainability issues and align with the SEC’s policy to promote integration of sustainability factors into business operations. As SLB practices abroad continue to evolve, the SEC is proposing to amend the SLB regulations to enhance flexibility, accommodate financial innovations, and ensure alignment with SLB advancements aboard and internationally recognized standards*, while maintaining suitable investor protection.
The SEC is therefore inviting public comments on the proposed principles and draft amendments with the key points, as follows:
- 1. To allow SLBs to specify financial return features that link to the achievement of sustainability-related key performance indicators (KPIs) of the bond issuer or its affiliates. This goes beyond the existing features for coupon adjustments and structural characteristics to support other mechanisms of financial returns;
- 2. To revise the regulations to accommodate the issuance and offering of SLBs in the form of zero-coupon bonds;
- 3. To revise the Registration Statement for Debt Offerings (Filing Form) and the Factsheet to reflect the changes outlined in items (1) and (2).
The public consultation is available at the SEC website: https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1106 and the legal hub at: https://law.go.th/. Stakeholders and interested parties are invited to submit their comments and suggestions via the websites or email: debt@sec.or.th. The public hearing ends on 14 October 2025.
