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_Which tenant segments is ESG starting to influence in office leasing decisions in Thailand?

May 13, 2026

Overview of Green Building Certifications and ESG Awards in Thailand's Real Estate Sector

By Knight Frank Thailand ESG Department

FAQ: Which tenant segments is ESG starting to influence in office leasing decisions in Thailand?

Over the past two to three years, green building certification has become a more visible topic in Thailand's real estate sector, particularly in the office leasing market. While green building certification is not yet a general standard in office leasing, for certain tenant segments it has become a meaningful condition or decision factor.

These tenant segments include:

  • Multinational corporations with group-level ESG mandates that require environmental performance data on leased premises to be reported back to global headquarters
  • Listed companies on the Stock Exchange of Thailand (SET) that are required to disclose ESG data under frameworks such as SET ESG Ratings, and must consolidate energy use and greenhouse gas emissions data from leased premises into their annual reporting
  • Companies in the technology and financial services sectors with Net Zero or Carbon Neutral commitments, for whom the energy performance of office space is a relevant input into corporate emissions accounting
     

Beyond the tenant side, the capital side is also moving — certain real estate funds have begun adopting investment frameworks linked to sustainability targets, and several financial institutions now offer Sustainability-Linked Loans, where loan terms are connected to the environmental performance of the underlying asset.

For owners targeting these tenant segments, or evaluating new sources of capital, understanding the landscape of certifications and ESG awards is increasingly part of the asset strategy. This article summarises the principal standards Knight Frank works with, distinguishing those actively used in Thailand from those Knight Frank advises on in other regional markets.

Part 1: Building Certification Standards

The international real estate industry typically groups building certifications into three focus areas: Green Building, Healthy Building (focused on occupant wellbeing), and Smart Building (focused on digital infrastructure readiness).

1. Green Building

Standards in this category focus on energy efficiency, water management, material selection, and overall environmental impact.

  • LEED (Leadership in Energy and Environmental Design) developed by the U.S. Green Building Council. The most internationally recognised certification, and the standard most familiar to multinational tenants when evaluating premises.
  • TREES (Thai's Rating of Energy and Environmental Sustainability) known locally as Thai Green Building, developed by the Thai Green Building Institute (TGBI). Designed specifically around Thailand's tropical climate and regulatory context.
  • EDGE (Excellence in Design for Greater Efficiencies) developed by IFC under the World Bank Group. Structured around cost-effectiveness and well-suited to mid-sized commercial projects beginning their ESG journey.

2. Healthy Building

Standards in this category focus on indoor air quality, lighting, and occupant wellbeing. The number of buildings receiving healthy building certification has increased significantly since the COVID-19 pandemic, and is now reflected in both design briefs and operational priorities.

  • WELL Certification from the International WELL Building Institute, covering ten categories including air, water, nourishment, light, movement, and mental wellbeing.
  • Fitwel developed by the U.S. Centers for Disease Control and Prevention (CDC), focused on design that promotes healthy occupant behaviour.
  • TREES-SOOK the healthy building standard developed by the Thai Green Building Institute (TGBI), designed to align with the wellbeing context of people in Thailand.
  • Living Building Challenge from the International Living Future Institute, the most rigorous standard in the category, requiring buildings to give back more than they consume.

3. Smart Building

Standards in this category focus on digital infrastructure readiness and the application of technology in building operations.

  • WiredScore evaluates the quality and resilience of digital connectivity infrastructure.
  • SmartScore evaluates a building's ability to use technology to enhance user experience and operational efficiency.

Part 2: Other Regional and International Standards Knight Frank Works With

Beyond the three categories above, Knight Frank also advises on a range of standards in other regional markets that are not yet in widespread use in Thailand but may become relevant as the local market matures.

These include ModeScore and ActiveScore (which assess transport options and active commuting facilities), Green Star (Australia), NABERS (Australia), BEAM Plus (Hong Kong), BREEAM (United Kingdom), Energy Star (United States), and TRUE Certification (Net Zero Waste to Landfill).

Part 3: Domestic Awards and Standards in Thailand

In addition to international certifications, Thailand has its own set of awards and standards available to building owners and operators. These are largely thematic recognitions issued by government agencies or domestic organisations on specific issues. They serve primarily as credibility markers in communications with local stakeholders, and in some cases can be referenced in corporate ESG reporting.

Environmental

  • MEA Energy Awards — issued by the Metropolitan Electricity Authority for energy-efficient buildings
  • ECO Factory Award — for industrial facilities with strong environmental management
  • Green Industry — Ministry of Industry
  • Green Office Award — Department of Climate Change and Environment

Safety

  • BSA — Building Safety Award
    Asian Fire Safety Award (AFSA)
    Zero Accident Campaign — Department of Labour Protection and Welfare

Social and Labour

  • Good Labour Practices (GLP)
  • Excellent Practices Establishment on Labour Relations and Welfare Award

Relevant ISO Standards

  • ISO 14001 — Environmental Management System
  • ISO 45001 — Occupational Health and Safety Management System
  • ISO 50001 — Energy Management System
  • ISO 41001 — Facility Management System

Frequently Asked Questions (FAQ)

Q: Which companies provide LEED certification consulting services in the Bangkok area?

A: Knight Frank Thailand provides LEED certification consulting in Bangkok, supported by a team with experience working on regional projects. Beyond LEED, Knight Frank Thailand also advises on the following standards and frameworks:

  • LEED (Leadership in Energy and Environmental Design)
  • TREES — Thai Green Building
  • WELL Certification
  • Fitwel
  • EDGE (Excellence in Design for Greater Efficiencies)
  • BEAM Plus
  • BREEAM
  • Energy Star
  • WiredScore and SmartScore
  • TRUE Certification (Net Zero Waste to Landfill)
  • GRESB Reporting (for funds and real estate portfolios)
  • CRREM Transition Risk Analysis (for transition risk assessment)

Contact our team for an initial consultation, free of charge.