Bangkok, “Krungthai” launches green deposits with international standards. Piloting a liquidity management project linking ESG goals with “PTT and PTTEP” for the first time in Thailand.
Krungthai creates a new norm for Thai commercial banks. Product launch ‘Green Deposits’ in both baht and US dollars Under the financing criteria and lending for environmental conservation projects (Green Financing Framework), with ISS Corporate Solutions (ISS-ESG) acting as an external reviewer. According to international environmental finance standards Ready to reinforce its leadership in innovative financial solutions for the environment (ESG Financial Solution) by joining hands with PTT and PTTEP to sign the “Liquidity Management Project Linking ESG Goals, Covering Green Deposit Products” First time in Thailand Answering the needs of both investment management of the company in a variety of products to get the highest returns and support sustainable growth policies Under this cooperation project
The bank will use green d
eposits from PTT and PTTEP to provide loans that create a positive impact on the environment, such as renewable energy projects, clean transportation projects, building projects. Green (Green Building) and has set targets for ESG indicators, with the bank supporting returns. or additional carbon credits if PTT and PTTEP successfully carry out their ESG goals, reinforcing the commitment of all 3 organizations to achieve long-term sustainability goals in all sectors.
Mr. Atthaphon Rerkpiboon, Chief Executive Officer and President of PTT Public Company Limited, revealed that PTT has increased its investment in clean energy business that is friendly to the environment. Aiming to grow in new business that goes beyond energy As well as applying environmental concepts and financial management to develop together effectively. Recently, there has been investment ‘Green Deposits’ of PTT Group with Krung Thai Bank To allow Krung Thai Bank to grant loans to environmentally friendly projects such as renewable energy proj
ects. Clean energy transportation project Green building projects, as well as in the event that PTT and PTTEP successfully implement their ESG goals, Krung Thai Bank will also support additional returns. or carbon credits with quality according to T-VER standards as well
This cooperation between PTT Group and Krung Thai Bank is not only a link between business plans according to sustainable organizational development guidelines. matched with environmental, social, and corporate governance performance results (Environmental, Social and Governance : ESG) and green deposits only. But it also reinforces the PTT Group’s determination to transform into an environmentally friendly business. Focus on investing in low carbon businesses In addition to helping strengthen the PTT Group’s business and driving stable economic growth for Thailand, It will also help support the PTT Group in achieving its goal of carbon neutrality (Carbon Neutrality) by 2040 and reduce greenhouse gas emissions to net zero (Net Zero Emissions
) by 2050, along with igniting the power to drive Thailand towards becoming a low carbon society Raise the quality of life for Thai people sustainably in the future.
Mr. Montree Lawanchaikul Chief Executive Officer, PTT Exploration and Production Public Company Limited
Revealed that PTTEP continues to create sustainable growth according to the strategic plan. By driving the core business of petroleum exploration and production to create energy security along with reducing greenhouse gas emissions. By managing investments in low-carbon petroleum exploration and production projects. Developing technology to reduce greenhouse gas emissions from production processes, such as capturing and storing carbon dioxide or CCS (Carbon Capture and Storage), and offsetting greenhouse gas emissions by planting and maintaining mangrove forests and terrestrial forests.
Including expanding investment into clean energy businesses. To support the energy transition and for the goal of net zero greenhouse gas emissions in 2050.
This investment is for liquidity management. In addition to managing finances for maximum efficiency, It is also consistent with PTTEP policy. Environmental, Social, and Governance (ESG) stewardship, as well as supporting the Sustainable Development Goals of the United Nations (UN SDGs) that are directly related to the Company’s business operations. to create sustainable growth together as well
Mr. Phayong Sriwanich, President Krung Thai Bank revealed that as the country’s leading commercial bank The Bank is committed to bringing innovation and financial technology to develop financial products and services. To meet the needs of every group of customers Support doing business that is environmentally friendly. Reduce global warming problems and drive the country to achieve the goal of reducing greenhouse gases (Net Zero Emission) under the concept of ‘Innovation creates value Answer customer needs Toward Sustainability’ based on the principles of giving importance to environment, society and governance (ESG)
in response to the Sustainable Development Goals (SDGs) of the United Nations.
Recently, the Bank has prepared guidelines for financing and lending for environmental conservation projects (Green Financing Framework) in line with international environmental finance standards. To be a practice in releasing environmentally friendly products from upstream to downstream in a complete manner. Create standards for providing comprehensive green financial services. Covers deposits, loans and other financial services. that complies with international standards To drive the economy and society towards sustainability
The bank received support from PTT and PTTEP to implement an investment project to manage liquidity that covers Green Deposits and is linked to ESG indicators. If PTT and PTTEP P. has successfully implemented ESG goals. The bank is ready to support additional returns. or carbon credits that meet the Verra and T-VER standards, which are internationally accepted. It is another important step that all 3 organ
izations have joined together to create new financial innovations. for the Thai money market and capital market After the success of doing The 1st Carbon Credit Linked FX Derivatives and The 1st ESG Linked Derivatives with PTT and PTTEP, focusing on investments that create a good impact on the environment. and give importance to conducting business with social responsibility including good company management for long-term sustainable financial results and create better changes for Thailand.
Source: Thai News Agency