The Bank has incorporated the concept of sustainability as an integral part of its business strategy with the view to manage long-term risk factors, such as demographic changes, inequality in various dimensions, problems related to the environment and natural resources, and climate change. This is also intended to respond to its stakeholders’ expectation that the Bank should play an important role in nurturing and uplifting the quality of the environment and society in addition to its traditional role as a financial intermediary that is crucial to economic growth and stability. The Bank is confident that adopting sustainable business practices will lead to sustainable value creation and good performance results.
Bangkok Bank engages with stakeholders regularly to better understand and respond to their needs and expectations. Through such engagement, the Bank can develop products and services as well as organize activities that meet the needs of each group of stakeholders. Realizing the importance of stakeholder engagement to relationship building with all stakeholders, the Bank has established guidelines for treatment of stakeholders. It also includes the Bank’s service standards which have been established with the view to gain the trust of stakeholders and prevent potential risks and negative impacts on the Bank’s image, reputation and business undertakings, in accordance with its code of conduct and business ethics.
The Bank identified materiality issues by engaging with stakeholders to consider issues important to the Bank and issues important to stakeholders, covering both current and potential sustainability issues. The Bank collected information and viewpoints from stakeholders through various means such as questionnaires, in-depth interviews, and workshops in order to assess and identify materiality issues.
Steps of Materiality Issues Assessment
- Identify Materiality Issues
- Prioritize Materiality Issues
- Examine Materiality Issues
- Review Materiality Issues
Materiality Issues Year 2018-2020
Fully realizing the importance of sustainability and the expectations of its stakeholders and society on its sustainable development endeavors, the Bank has established four sets of sustainability guidelines that are aligned with its 12 materiality issues. These are aligned with the Bank’s business strategies aimed to deliver stable and sustainable growth as well as create value to all stakeholders. The guidelines also help advance the Sustainable Development Goals (UNSDGs), a collection of global goals on sustainability set by the United Nations.