Bangkok Bank highlights its commitment to be an ‘Organization for Sustainable Development’, joins Sustainability Expo 2023 to showcase success stories to inspire Thai businesses and people to create value for a sustainable future
October 02, 2023
Bangkok Bank joined Sustainability Expo 2023 under the concept of ‘Creating Value for a Sustainable Future’ and reinforcing its position as an organization that supports sustainable development. The bank showcased three success stories from its policy level such as the ‘Bualuang Save the Earth: Rak Tha Chin’ project which joined with communities to reduce waste, recycle to add value and integrate sustainability with financial services. The bank aimed to inspire Thai businesses and people to help create a long-term sustainable society. Bangkok Bank was honored to welcome Dr. Sumet Tantivejkul, Director and Secretary General of Chaipattana Foundation, Thanphuying Putrie Viravaidya, Chairperson, Mae Fah Luang Foundation and Thapana Sirivadhanabhakdi, President and CEO, ThaiBev and Sustainability Expo 2023’s organizing chairman to its booth.
Bangkok Bank Director and Senior Executive Vice President Kobsak Pootrakool said Bangkok Bank, as an organization focusing on sustainable development, featured a booth at Sustainability Expo 2023 to showcase the bank’s major projects that help drive it towards its sustainable development goals. The presentation was under the concept of Creating Value for a Sustainable Future focusing on three themes which are:
1. Five commitments to sustainability including:
- Be Responsible – doing business in a responsible way by supporting projects that promote a sustainable society and environment.
- Be Resilient – support customers, communities and society in coping with unusual situations, such as the Covid-19 outbreak, so all parties can survive the crisis together.
- Be Caring – take care of society including employees, shareholders, customers and communities, so they can be sustainably self-sufficient
- Be Customer Centric – placing customers at the center of our services to create products and services that meet their needs at any stage of life
- ฺBe Ethical – operate businesses ethically under responsible lending policies and consider the risks related to ESG in the loan approval processes
2. Bualuang Save the Earth: Rak Tha Chin project
Bangkok Bank joined with partners, including the Ministry of Natural Resources and Environment’s Department of Marine and Coastal Resources, the Pollution Control Department, the Department of Environmental Quality Promotion and the Office of the Public Sector Development, the Office of the Securities and Exchange Commission and the Association of Thai Listed Companies, to help solve the waste problem in five main rivers which flow to the Gulf of Thailand. The pilot phase focused on collecting, separating and recycling waste as well as working with local people to add value to water hyacinth businesses to generate income for the community.
“Data from the Marine and Coastal Resources Research & Development Institute, Department of Marine and Coastal Resources shows there are 1.29 million pieces of waste, weighing 1,540 tons, flowing from five main rivers to the Gulf of Thailand each year. The Tha Chin river has the third highest waste with an average of 1.66 million pieces of waste per year, weighing 219 tons. The amount of waste increased from 125 tons in 2021 to 219 tons in 2022. The bank is aware of the problem and has stepped in to take care of the Tha Chin River by deploying litter traps (booms) and supporting their operation for more than five years to ensure communities can have sustainable waste management,” said Mr. Kobsak.
3. Green Finance
Bangkok Bank included sustainable development as a component of its support and facilitation of funding for use in government and private sector projects that support sustainability or Green Finance by underwriting ESG bonds (Environmental, Social and Governance). In 2022, the Thai capital market had a total value of ESG bonds issuance of 157,463 million baht, of which 119,145 million baht, or 76% of total ESG bonds issuance, was underwritten by the bank.
Mr. Kobsak said the bank’s constant work and outstanding accomplishments saw it win three sustainable finance awards: Best Bank for Sustainable Finance in Thailand and Outstanding Leadership in ESG-related Loans for Asia-Pacific from Global Finance’s Sustainable Awards 2023, held by Global Finance, UK’s leading financial magazine, and Best Sustainable Bank in Thailand from FinanceAsia Awards 2023, held by FinanceAsia, Asia Pacific’s leading financial and investment magazine. The bank took great pride in the wins, which reflected the success of the bank in driving the business of sustainable development. It may also inspire Thai entrepreneurs and people to help improve sustainable social development.
Sustainability Expo 2023 “Good Balance, Better World” is ASEAN’s largest sustainability expo, held by a collaboration of many parties including government, the private sector and communities. This year’s expo, under the concept of Sufficiency for Sustainability, takes place from Friday, September 29, 2023 – Sunday, October 8, 2023 (ten days) at Queen Sirikit National Convention Center. The expo features more than 300 global experts, panel discussions, eight zones of exhibitions for organizations and the general public to help encourage sustainability and long-term environmental care.
Visitors to Bangkok Bank’s booth can join a quiz to get a free cloth bag (one bag per one person only, or until stock lasts) at Hall 1 – 4, G floor, October 2, 2023 – October 8, 2023, 10:00 a.m. – 08:00 p.m.
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