Do No Significant Harm: Taxonomies and Sustainability (AKA: The Stuffed Badger Episode)
- S3E22
- 44:22
- March 9th 2026
What is a taxonomy? Why are they important? How do they touch upon sustainability? And why should anyone with an interest in financial markets pay them attention?
Dr Charika Channuntapipat knows more about taxonomies than most people – certainly than Paul – and is perfectly placed to answer all these questions. Charika is a researcher and social scientist based in Bangkok, Thailand, where she works for the Thai Stock Exchange.
She gives us insight into how taxonomies decide which economic activities are environmentally sustainable, what the key objectives are, and how these and their enforcement can vary from country to country, and region to region. We discuss the concepts of the objectives (to which taxonomies seek to channel funding); Do No Significant Harm (DNSH), and its importance when deciding if an action is considered ‘green’; and Minimum Social Safeguards (MSS), which relate to human rights and community impacts.
Charika also tells us about the overall sustainability picture in Thailand – both environmentally and economically – and how the government has strengthened governance around sustainability and is pursuing ambitious climate change goals.
We learn how the Thailand taxonomy is a living document, that can evolve as sustainable technologies and endeavours become obsolete. And we discuss the importance of varied and local expertise in shaping policies, the complications of involving so many voices in its creation, and how different taxonomies around the world can complement each other.
And find out why Paul and Jan have gone down a road of confusion with stuffed badgers.
Enjoy a taste of the fast-moving world of taxonomies around the world here: https://www.climatebonds.net/expertise/taxonomy/world-taxonomies
And see more on the second phase of Thailand’s Taxonomy here: https://www.bot.or.th/en/news-and-media/news/news-20250527.html
Transforming Tomorrow
Sustainability is key for any business that wants to build a lasting legacy. From carbon footprints to biodiversity to modern slavery, seabeds to factory floors, everything matters.
On Transforming Tomorrow, we make the complex understandable, the theory practical, as we guide you through the ever-changing and often exciting world of sustainability in business.
Speaking to internationally renowned experts and business leaders, we uncover how to mainstream environmental, social and economic sustainability into purposeful business strategy and performance.
Whether you are leading transition in your business, want to build a corporation with a green heart or change your individual actions, or just want to know more about how space weather might affect your operations, Transforming Tomorrow is the show for you.
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You can find transcripts for most episodes at: https://www.lancaster.ac.uk/pentland/resources-for-education-and-practice/transforming-tomorrow-podcast/transcripts/
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Meet the Hosts
Professor Jan Bebbington is the Director of the Pentland Centre for Sustainability in Business at Lancaster University. Jan is an expert on accounting, benchmarking (to her co-host’s annoyance), and how business and sustainability intersect.
Jan loves nature and wants to protect it – and hopes she can change the world (ideally for the better). She is also motivated to address inequality wherever it is found and especially to eliminate forced, bonded or child labour. Transforming Tomorrow is one small step on that quest.
Paul Turner is a former sports journalist who now works promoting the research activities in Lancaster University Management School – a poacher turned gamekeeper as his former colleagues would have it.
Paul has always been interested in nature and the natural environment – it comes from growing up in Cumbria – and has been a vocal proponent of the work of the Pentland Centre since joining Lancaster University. He does not like rankings and benchmarking, and is not afraid to say so.