Approach to Sustainability

Message from The Chairman, The Executive Chairman and The President

This unprecedented crisis has presented significant challenges to Bangkok Bank and our customers. However, it has also presented all of us with the opportunity to learn, understand, adapt and help each other, and to prove our commitment to be a “puan koo kit” (trusted partner) who always stays by our stakeholders’ side. The Bank will continue to advance our business, establish stronger business foundations and strengthen our financial position and working systems. This will enable us to deal with potential threats and changes through prudent business conduct and management under good corporate governance and sustainability principles covering economic, social and environmental dimensions. By prioritizing the interests of our stakeholders we can attain steady and balanced growth, which is the foundation for long-term sustainable development.

Sustainable Business Undertaking

The Bank has incorporated sustainability concepts and strategies into its strategic plans. This is aimed to help promote agility and resilience amid changes and assist the Bank to manage risks effectively, especially long-term risks that need be managed continuously given prevailing trends such as an aging and aged society, climate change and pandemics. The Bank has formulated sustainability strategies by considering materiality issues derived from a process of engaging various stakeholders, including executives and employees, as a basis for formulating its strategy.

The Bank’s strategies on sustainability cover four areas as listed below:

  1. Human Resource Development and Retention
    The Bank treats employees equally and fairly, provides for their occupational health and safety, and continually develops their skills.
  2. Management of Environmental, Social and Governance Risks
    The Bank conducts its business responsibly, respects human rights and strictly complies with laws, rules and regulations as stipulated by the government. The Bank also manages environmental, social and governance risks and the impacts thereof on its own business as well as on those counterparties in its supply chain.
  3. Supporting Inclusive Access to Financial Services
    The Bank provides financial literacy and promotes financial inclusion to prepare for Thailand becoming an aged society, to reduce inequality and build stronger foundations for Thailand’s economic system.
  4. Doing Business under Good Corporate Governance Principles
    The Bank adheres to good corporate governance principles, observes its established business code of conduct, and communicates its business code of conduct to all internal and external stakeholders.

Engagement of both internal and external stakeholders is pivotal to the Bank’s sustainable business conduct as it enables the Bank to better understand the expectations, needs and issues of its stakeholders. This understanding will lead to close collaboration for a better response to challenges and the mutually beneficial pursuit of new business opportunities. These actions, in turn, will enhance the development of our products and services to serve the needs of each group of stakeholders while preventing and mitigating any potential risks and negative impacts from carrying out our business. Through stakeholder engagement, the Bank will be able to create value and strengthen good relationships, laying a strong foundation for the Bank’s long-term sustainability. The Bank has classified its stakeholders into 7 groups as adapted from the Stakeholders Engagement Standard AA1000SES: 1. Shareholders and Investors, 2. Employees, 3. Customers (Business and Individual), 4. Counterparties (Suppliers, Service Providers and Contractors), 5. Creditors, 6. Industry Peers, and 7. Community, Society and Environment (including Regulatory Authorities, Public Sector and Mass Media).

Approaches to Stakeholder Engagement

  1. Materiality Issues
  2. Stakeholder Inclusivity
  3. Response to Stakeholder Expectations
Materiality Issues Assessment

In 2020, the Bank reviewed the existing materiality issues which had been in use since 2018 to update them to be line with and appropriate for the current situation and the next few years. In so doing, the Bank provided an opportunity to all stakeholders to express their opinions on all material aspects that are significant to the Bank, as well as to share their expectations, perspectives and suggestions on the Bank’s operations, in order to underscore the importance of creating value together with stakeholders. The Bank has applied various methodologies to gather information and feedback from stakeholders, such as questionnaires and in-depth interviews, in order to identify materiality issues.

Steps of Materiality Issues Assessment

  1. Identification
  2. Prioritization
  3. Screening and Examination
  4. Review

Materiality Issues Year 2020-2022

Sustainability Performance

The Bank implements sustainability policies, guidelines and activities that promote the UN Sustainable Development Goals (UNSDGs). In 2020, the Bank established five sustainability guidelines that are aligned with 15 materiality issues, each of which has been incorporated as a part of the Bank’s strategy to meet the expectations of all stakeholders and to jointly create value for the economy, society and the environment and to support the sustainable growth of the Bank.

Sustainability Initiatives

Realizing the importance of natural resources and the environment for sustainable development, the Bank is committed to conducting its business through efficient utilization of resources and energy to reduce and prevent any negative impact to the environment or contribution to climate change.

Environmental and Energy Conservation Policy

Reduction of Greenhouse Gas

Data Performance of Environmental Dimension

Environmental Activities

Creating shared values between communities and the Bank, enhancing quality of life, reducing social and economic inequality, educating and promoting financial access through constructive and sustainable development of communities. In addition, The Bank encourages vendors in its supply chain to preserve the environment, respect human and labor rights, while upholding fairness and transparency in business dealings with its vendors. This will enable the Bank to achieve a sustainable, reliable and effective supply chain which will create value for the society and environment.

Corporate Social Responsibility Policy & Strategies

Human Rights Policy

Social Activities

The Bank undertakes its business under the aspiration to be “Puan Koo Kit, Mit Koo Baan” or a trusted partner and reliable close friend for its customers and the Thai society. The Bank builds long-term relationships with customers based on sincerity and consistency to help customers achieve financial stability and robust business growth. The Bank values prudent and careful financial management and maintains suitable levels of liquidity and capital to support future business expansion. Most importantly, the Bank ensures that it is responsible in its business conduct regarding the environment, society and all stakeholders in order to attain sustainable growth.

Responsible Lending Policy

Financial Products and Services for Sustainability

Financial Inclusion & Financial Literacy

Customer Relationship Management

Supplier Code of Conduct

Financial Information

Sustainability Report

Sustainability Report 2020

Sustainability Report 2019

Sustainability Report 2018

CSR Report 2017

CSR Report 2016

TOOLS & ASSISTANCE

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TOOLS & ASSISTANCE

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