Social Responsibility and Value Creation
Commitment
To be socially responsible by creating shared value with society, helping communities to cope with environmental and social challenges, and promoting suppliers’ social and environmental responsibility
Materiality
Doing business while seeking to create value in a socially responsible way not only benefits society and the environment at large, but also helps foster stakeholder trust in the Bank. Our commitment to social responsibility and value creation is reflected in a variety of our own initiatives as well as those initiatives that we engage in collaboration with our business suppliers or partners. We have undertaken a number of socially responsible and value-creating activities with an aim to make a positive impact in a wide variety of areas such as economics, society, environment, religion, arts and culture. In 2023, we focused on activities that address three key challenges facing the country, namely being an aged society, economic and social inequality, and environmental challenges including adaptation to climate change. Going forward, in addition to carrying on prevailing initiatives, we will continue to initiate new activities for the common good with the view to contribute to improving the quality of society and the environment.
Management Approach
We have adopted a Corporate Social Responsibility Policy that serves as a principle and a guiding framework for our community and social development, while also encouraging our financial business group’s companies to adapt this policy as appropriate to their individual businesses. We have assigned our Public Relations Department to be the center responsible for initiating social and community development activities, as well as identifying resources and estimating required budgets. However, other business units can also initiate their own community and social development activities as appropriate. In such cases, the business unit is responsible for supervising and monitoring the implementation of the activities to achieve their specified objectives. We encourage and provide opportunities for all employees to volunteer in the Bank’s various community and social activities according to the employees' specialties and interests.
Key Activities
Showing Social Responsibility and Value Creation through the Bank's Operations. Moreover, we set strategies for community and social development initiatives by considering important factors, such as ongoing challenges, the United Nations Sustainable Development Goals (SDGs), engagement with stakeholders including business partners, and alignment with our strategies and specialization. This is to ensure that the activities supported by the Bank can create tangible positive impacts and are mutually beneficial to the Bank, our employees and our business partners. The Bank's community and social development activities are categorized into six areas: 1. Supporting the wellbeing of communities and society, 2. Supporting medical advancement and ease of access to healthcare services for vulnerable groups, 3. Promoting youth development and educational opportunities, 4. Strengthening the agriculture sector and SME, 5. Promoting and conserving Thai arts and culture, and 6. Nurturing religion. The details are as follows.
- Supporting the Wellbeing of Communities and Society
- Utokapat Foundation and the Bualuang Foundation Joins the Community to Solve Drought Project
We have continuously supported the Utokapat Foundation under the Royal Patronage of H.M. the King since its establishment so that we can play a part in continuing His Majesty King Bhumibol Adulyadej the Great’s initiatives to strengthen water resource management for sustainable consumption and to cope with flood and drought problems. In 2023 the Bank joined with the Bualuang Foundation and the Utokapat Foundation to support the Bualuang Joins the Community to Solve Drought project for the fourth consecutive year. The project strengthened community water management capabilities through infrastructure support such as building and improving weirs, ponds, reservoirs, solar water pumping systems, gravity water supply systems, and drinking water filtration systems for seven communities in seven provinces, covering more than 1,000 rai of agricultural land. This has benefitted more than 20,000 households while increasing the amount of water available for consumption by 58,000 cubic meters. - Young Director Award Season 2
We extended the success of the Young Director Award project with the launch of the second season, inviting students and the general public interested in content production to produce short films to promote tourism and local products more widely, while also strengthening local community economies, particularly in the eight secondary cities of Lamphun, Phitsanulok, Roi Et, Buriram, Chainat, Chanthaburi, Nakhon Si Thammarat and Trang, all of which have unique cultures. The project also provides a good opportunity for younger generations to learn about filmmaking from veteran film directors which can help them advance in their filmmaking career paths. - Wheelchair Donation Project for Underprivileged Disabled People
The Bank has supported JS 100 Radio in donating wheelchairs for underprivileged disabled people since 2019. This project has delivered more than 3,860 wheelchairs in the Bangkok area and across other provinces through provincial public health networks, the governor of each province, the Ministry of Social Development and Human Security, and the general public. This is aimed at helping underprivileged disabled people and the elderly who have physical illnesses and lack funds so that they can do their daily routines and outdoor activities more conveniently.
- Utokapat Foundation and the Bualuang Foundation Joins the Community to Solve Drought Project
- Supporting Medical Advancement and Ease of Access to Healthcare Services for Vulnerable Groups
- Credit and Debit Cards Supporting for Target Groups to Access to Healthcare Services
Together with our credit and debit cardholders holding a Bangkok Bank Titanium Ramathibodi Hospital Credit Card, Bangkok Bank Visa Platinum Siriraj Credit Card, or Be1st Smart TPN Rabbit Siriraj Card, we help underprivileged people to be able to access medical services in hospitals by donating annual fees for the cards and an additional 0.2 percent of card spending to participating hospitals. Besides, these cardholders can make donations to participating hospitals by simply redeeming accumulated points obtained from their card spending. Such donations will be matched by our Bank’s donations for the same amount. At the end of 2023, we had more than 1.1 million credit and debit cardholders under the scheme and total donations made by cardholders amounted to more than Baht 500 million. - Mobile Medical and Dental Unit
We collaborated with the government and private sector to support the Mobile Medical and Dental Unit Foundation to provide free medical and dental services to underprivileged people in rural and remote areas across the country. Mobile services include treatments for general medical conditions and specific diseases, fillings, tooth extraction, wisdom tooth removal, scaling, fluoride varnishing, sealant and denture fitting. In 2023, four mobile units were deployed in Chanthaburi, Mukdahan, Sukhothai and Nan provinces. A total of 7,033 people received services, while 73 Bank executives and employees volunteered to support the project. - 8 million cc for 80 years of Bangkok Bank Project
To mark Bangkok Bank’s 80th anniversary on December 1, 2024, we are inviting customers, the general public, as well as our employees across the country to donate blood to the National Blood Center, Thai Red Cross Society, with a goal of 8 million cc. Moreover, the Bank provides blood donors with environmentally-friendly recycled paper bags from the Bualuang Save the Earth project for carrying their medicine and medical supplies. The Bank also donated Baht 100,000 to help produce memorial T-shirts for blood donors on World Blood Donor Day 2023.
- Credit and Debit Cards Supporting for Target Groups to Access to Healthcare Services
- Promoting Youth Development and Educational Opportunities
Quality education supports the country’s sustainable development. The Bank therefore places great emphasis on supporting the development of quality education by helping schools to understand how to connect with their communities to promote a society of lifelong learning.
- The CONNEXT ED Education Project
We are helping to build a strong learning network by mobilizing 100 branch managers from 98 branches in 50 provinces to act as School Partners, working in cooperation with 240 schools and communities surrounding schools in 54 provinces to encourage participation in educational development that supports the specific needs of each area. In addition, we support projects and activities to develop students in various ways as follows: - Learning Center
The Bank supported the establishment of a community learning center for Wat Tapotaram School, Chonburi province to encourage better learning methods by using the Community Learning Center as the center for organizing educational exchange between the school and the community. - Notebooks for Education
In 2023, we supported schools participating in the Notebooks for Education project by inviting those interested in supporting education to help purchase notebook computers for eight schools in eight provinces. This helped increase learning opportunities and data accessibility for 2,170 students and 169 teachers. - Child-centered Education
We cooperated with the Child-centered Education Project under the support of the Chin Sophonpanich Foundation to organize training courses on child-centered education to enhance the potential of small schools in remote areas with insufficient number of teachers in Phayao province. We also provided funds to purchase notebook computers and accessories to make the classroom environment more conducive to learning. - Bualuang Kor Kan Kru Project for Teachers
We continued the Bualuang Kor Kan Kru project for teachers in cooperation with Thammasat University by providing training courses to enhance teaching and learning skills in line with competency-based education guidelines, while also supporting a research team to strengthen the development of community learning ecosystems for eight pilot schools in Udon Thani province. Since the Bualuang Kor Kan Kru project has completed its three year development framework (2020-2023), the Bank has joined with Thammasat University to organize the Beng Ngaeng Education Udon Ban Hao (Taking care our hometown education in Udon Thani) event to present the learning management outcomes from the eight pilot schools, as well as to empower other schools to use the knowledge gained from the project to enhance their learning environments. - Partnership School Project
We recognize the importance of providing education that suits the needs of the community. To support this, we continued to work on school development under the Partnership School Project in Wat Niweswutharam School, Nakhon Sawan province, and Ban Bang Mak School, Trang province. By developing a learning base within the community, we hope to encourage parents and the community to participate in education development. This will not only create positive changes in the schools, but also help a new generation of children and young people to appreciate and be proud of their local knowledge, local occupation, and local culture.
- The CONNEXT ED Education Project
- Strengthening the Agricultural Sector and SME
- Modern Agriculture
The question “How can Bangkok Bank, as a trusted partner and reliable close friend, help advance the agricultural sector which is an important sector of the country?” led to the launch of the Modern Agriculture Project in 1999. Since then, the Modern Agriculture Project has supported the agricultural sector across various dimensions as follows: educating farmers on how to increase productivity and improve product quality, supporting the development of farmers’ networks for sharing knowledge, creating mutual marketing opportunities, and supporting modern marketing and the use of modern technologies through various activities. These activities have included technology discussions, establishment of a national modern farmers’ network, and “Trusted Partner, Modern Agriculture” events. In 2023, the Bank organized two “Trusted Partner, Modern Agriculture” seminars by inviting expert speakers and experienced farmers to participate in online discussions on the topics: “How to fix the problem of expensive fertilizer? Lessons learned from professional farmers”, and “Crisis prevention, cassava yield losses” with more than 280 participants attending. In addition, the Bank’s executives and the Modern Agriculture team visited modern farmers throughout the country in search of successful farming case studies and brought various experiences and knowledge to share with a wider audience.
In 2023 we resumed our annual Modern Agriculture Fair Day event, which had been suspended during the Covid-19 situation, at the front space of the Silom Head Office building. The 2023 annual event was organized under the theme “Modern technology, proper management to support sustainable development” to give farmers, particularly small farmers, an opportunity to sell their products directly to customers. This year 56 vendors representing every region sold a variety of goods divided into innovative agricultural products, community products, and health-related agricultural products. More than 2,000 people visited the event which generated total spending of more than Baht 3 million. A few seminars on Modern Agriculture 2023 were organized at the event to provide knowledge to farmers, entrepreneurs, and the public on how to respond to rapid changes in climate, technology, global trade regulations, and consumer behavior. Seminar topics included: “Thai agricultural direction in the era of digital technology”, “THEOS-2 satellite and agricultural sector development”, “Water resource management for droughts”, and “Thai agricultural sector and the impacts of climate change”. There was also the Three Exemplary Modern Farmers 2023 seminar with winners of the 2023 Bangkok Bank Modern Agriculture Awards, namely Mr. Suwit Traichok, Managing Director of Navita Foods; Mr. Soonthorn Sritawee, Managing Director of Blue River Products; and Mr. Thitipong Jongmailak, Director Manager of Chiang Mai Fresh Products. More than 100 participants attended the seminar. - Bualuang SME Club
The Bank promotes capability development of SME and has established collaborative networks for them through the Bualuang SME Club which was founded over 20 years ago. We have continuously supported the club's activities including providing training, seminars, field studies, business matching, and providing the space in front of our Silom Head Office for the club’s members to sell their products to employees, customers and the public. In 2023, the Bank provided space for the 14th Bualuang SME Fair @ Bangkok Bank with 85 Bualuang SME members participating and selling their products while searching for further business opportunities. Many products including consumer products, home decorative items, fresh food, and processed food were available at the event. Moreover, there was a seminar on the topic “Digital Transformation for SME” to strengthen SME in the digital age, emphasizing Bangkok Bank as a trusted partner who stands ready to support SME operators through all circumstances. More than 1,000 people attended the event, generating total sales of more than Baht 8 million.
In 2023, the Bank maintained its commitment to supporting various activities of the Bualuang SME Club to strengthen SME whether or not they were its members. This included organizing seminars to increase skills and knowledge on topics that are currently of interest to SME, such as “Transformation Loans for adapting your business”, “Upgrading accounting skills, change SME’s lives”, “Water management with BCG guidelines”, “Financial and cost management: Bualuang curricular, Batch 66”, “Adapting accounting systems in the digital age for today’s SME”, “Digital Transformation for SME”, “In-depth analysis of the economy in 2023, how should SME adjust themselves?”, “Looking back and looking ahead, how will the Thai economy adjust?”, “Sustainable supply chain management”, “Digital marketing: opportunities or obstacles for SME?”, and a special seminar celebrating the 20th anniversary of Bualuang SME on the topic “SME Transformation - to grow sustainably”. Every seminar received good feedback from club members and other attendees. More than 2,000 participants attended.
- Modern Agriculture
- Promoting and Conserving Thai Arts and Culture
The Bangkok Bank Musical Art Center was founded in 1979 to conserve and promote Thai arts and culture, such as performances of traditional Thai music, dance, drama and folk arts. Throughout this period, the Bangkok Bank Musical Art Center has organized diverse activities, such as Sangkeet Saranrom performances, the traditional Thai music competition Pralong Pleng Praleng Mahori, and the creative literary project - Kawee Pakka Thong (Golden Pen Poet). We also broadcast performing arts through Facebook and the Bangkok Bank Musical Art Center’s YouTube channel. In 2023, Bangkok Bank Musical Art Center, in collaboration with the Department of Children and Youth, Ministry of Social Development and Human Security organized the traditional Thai music competition Pralong Pleng Praleng Mahori for high school students to win the 35th Royal Trophy presented by Her Royal Highness Princess Maha Chakri Sirindhorn. A large number of interested young people participated in the contest. - Nourishing Religion
- Royal Kathin
Fifty-seven years ago we became the first financial institution to be honored with the commission of taking the Royal Kathin to temples under royal patronage in all regions across Thailand as well as temples in foreign countries. In 2023, we received His Majesty the King’s commission to present the Royal Kathin to Wat Kaew Pichit, a royal monastery in Prachin Buri province. Bangkok Bank directors, executives, employees, customers and the general public participated in the Royal Kathin merit-making ceremony and donated Baht 14,445,339.50 to restore the living quarters of monks, the Phra Ubosot, and the monastery. - Paying Respect on the occasion of Buddhist Lent
Preserving Buddhist culture and activities is one of the Bank's most important missions. Importantly, paying respect to senior monks on the occasion of Buddhist Lent is an annual and important practice of the Bank. In 2023, we presented offerings to His Holiness the Supreme Patriarch, chairman of the Sangha Supreme Council of Thailand, as well as to 20 directors and five advisors of the Sangha Supreme Council of Thailand, totaling 25 senior monks from 22 temples. - The 9th Grade Buddhist Theology Examination
In 2023, we held a congratulatory luncheon ceremony to pay respect to monks and novices who passed the Buddhist theology examination in the ninth grade for the 50th consecutive year. The ceremony was honorably chaired by Phra Phrom Molee, Abbot of Wat Paknam, Councilor of the Sangha Supreme Council of Thailand; Maekong Bali Sanam Luang, as the president of the clergy; and the Bank’s Executive Director, Singh Tangtatswas, as the secular president. This year 50 monks and 10 novices passed the exam.
- Royal Kathin
Showing Social Responsibility and Value Creation through Supply Chain Management
We recognize the importance of overseeing and preventing economic, social and environmental risks that may arise from the operations of the Bank’s supply-chain counterparties. The Bank has established the Supplier Code of Conduct to reflect its expectations of suppliers regarding environmental, social and governance (ESG) practices which include respect for human rights, labor rights and community rights. We also communicate and encourage all suppliers to conduct their business responsibly in keeping with the Supplier Code of Conduct. In addition, we place importance on ESG risk management in the supply chain as well as promoting the procurement of environmentally-friendly products, while also organizing sustainability knowledge-sharing activities for the Bank’s suppliers to build a stable, effective supply chain that creates sustainable value for the environment and society.
Suppliers in the Bank's supply chain are classified into three types: 1. Suppliers who are those who are suppliers of supplies and equipment used in business operations under the responsibility of the Bank’s procurement section, 2. Contractors who are those who provide services such as repairs, renovations and maintenance of the Bank’s equipment and office buildings, and 3. External service providers who are those contracted by the Bank for specific tasks. In 2023, the Bank had a total of 2,713 suppliers registered with the Bank, comprising 2,317 domestic suppliers and 396 overseas suppliers. Of the total, 64 were new suppliers. We entered into procurement contracts with 1,130 suppliers.
Environmental, Social and Governance Management in the Supply Chain
ESG management in the Bank's supply chain includes: screening new suppliers by considering important ESG issues; regularly evaluating significant risks associated with critical suppliers, along with managing identified risks at an acceptable level; and communicating the Supplier Code of Conduct to all suppliers. There is also a process for monitoring compliance with the Supplier Code of Conduct and encouraging all suppliers to fully comply with the said Code of Conduct. In addition, we also encourage the Bank's suppliers and business partners to increase their counter measures against all forms of corruption by inviting them to be members of the Thai Private Sector Collective Action Against Corruption.
Furthermore, the Bank has established a policy outlining guidelines when using external service providers for general work, with criteria for selecting service providers which cover risk management, internal controls, data protection, and the confidentiality of the Bank and its customers, as well as the use of labor. The Bank assigns the Screening Committee for External Service Providers to be responsible for overseeing the compliance of external service providers in accordance with the aforementioned policy. Business units using outsourced services are responsible for considering and proposing the work requiring outsourced services and suitable external service providers to the designated screening committee to ensure that the external service providers comply with their respective procurement contracts, as well as monitoring and evaluating the provided services. They must also watch out information about the service providers’ practices if any that are inconsistent with the law and the Bank’s Supplier Code of Conduct. The Bank will use that information when reviewing the supplier registration for the following year or once the contract has expired.
The Bank has adopted the three lines of defense principle in managing risks in its supply chain. The Compliance Unit is responsible for overseeing procurement in accordance with the Bank’s regulations as well as relevant laws and regulations. The Audit and Control Division is responsible for auditing relevant procurement and process. In case any stakeholders are impacted by the work or activities of the Bank’s contracted suppliers, they can file a complaint to the Bank’s complaint filing channels.
Supplier Screening
The Bank respects the rights of all suppliers and treats them equally and fairly. We have a systematic approach to screening suppliers which covers a comprehensive assessment of their capabilities to produce products and provide services, quality of products and services, trustworthiness of a supplier, as well as consideration of a supplier’s ESG performance. All suppliers, whether they are new suppliers or existing suppliers, are required to conduct an ESG self-assessment covering significant topics such as environmental impact management, respect for human rights in compliance with international principles and standards, respect for basic rights at the workplace in compliance with the International Labour Organization (ILO) Conventions, illegal use of child labor and forced labor, prevention and protection of personal data, prevention of corruption, whistleblowing channels, etc. Suppliers are required to pass the Bank’s assessment criteria before they can become registered suppliers and sign a procurement contract with the Bank. After passing the assessment process, the Bank may invite potential suppliers to meet and discuss their products and services, as well as to create an understanding of and expectations about the Bank’s guidelines to suppliers. The Bank may also conduct additional qualification assessments of suppliers based on the criteria of service capability and reliability, and there may be visits by relevant working units to supplier’s business for further inspection and assessment. In addition, the Bank has adopted an e-auction process to enhance transparency and fairness in the procurement process.
Assessment of ESG Risks in the Supply Chain
The Bank regularly assesses the ESG risks of its suppliers by focusing on critical suppliers. These are the providers of products and services with high spending value, suppliers of critical components that produce essential goods and services for the Bank, and non-substitutable suppliers that produce products and provide services that cannot be easily replaced by other sources. The Bank has identified materiality risk issues by considering the likelihood and severity of the impact as follows: Environmental: 1. Greenhouse gas emissions, 2. Energy management, and 3. Waste and hazardous material management. Social: 1. Human rights, 2. Labor practices, and 3. Occupational health and safety at the workplace. Governance: 1. Corruption, 2. Privacy protection, and 3. Fraud. If any supplier is found to have risk of a level higher than the Bank’s acceptable level, the Bank will impose either additional or more rigorous risk and impact prevention and mitigation measures as deemed necessary. In 2023, the suppliers’ ESG risk remained acceptable to the Bank. Their economic risk was also assessed to be insignificant to the Bank’s operations and performance.
Procurement that Promotes Environmentally-friendly Products
The Bank supports the use of environmentally-friendly or low carbon products and materials by procuring a variety of environmentally-friendly products such as photocopy paper produced from environmentally-friendly pulp, document forms made from recycled paper, printing toner certified to meet international environmental standards, employee uniforms with the Cool Mode label, non-CFC water mist fire extinguishers, souvenirs made from upcycled materials, water-saving sanitaryware, office supplies and office furniture certified by international standards.
Suppliers in the Bank's supply chain are classified into three types: 1. Suppliers who are those who are suppliers of supplies and equipment used in business operations under the responsibility of the Bank’s procurement section, 2. Contractors who are those who provide services such as repairs, renovations and maintenance of the Bank’s equipment and office buildings, and 3. External service providers who are those contracted by the Bank for specific tasks. In 2023, the Bank had a total of 2,713 suppliers registered with the Bank, comprising 2,317 domestic suppliers and 396 overseas suppliers. Of the total, 64 were new suppliers. We entered into procurement contracts with 1,130 suppliers.
Environmental, Social and Governance Management in the Supply Chain
ESG management in the Bank's supply chain includes: screening new suppliers by considering important ESG issues; regularly evaluating significant risks associated with critical suppliers, along with managing identified risks at an acceptable level; and communicating the Supplier Code of Conduct to all suppliers. There is also a process for monitoring compliance with the Supplier Code of Conduct and encouraging all suppliers to fully comply with the said Code of Conduct. In addition, we also encourage the Bank's suppliers and business partners to increase their counter measures against all forms of corruption by inviting them to be members of the Thai Private Sector Collective Action Against Corruption.
Furthermore, the Bank has established a policy outlining guidelines when using external service providers for general work, with criteria for selecting service providers which cover risk management, internal controls, data protection, and the confidentiality of the Bank and its customers, as well as the use of labor. The Bank assigns the Screening Committee for External Service Providers to be responsible for overseeing the compliance of external service providers in accordance with the aforementioned policy. Business units using outsourced services are responsible for considering and proposing the work requiring outsourced services and suitable external service providers to the designated screening committee to ensure that the external service providers comply with their respective procurement contracts, as well as monitoring and evaluating the provided services. They must also watch out information about the service providers’ practices if any that are inconsistent with the law and the Bank’s Supplier Code of Conduct. The Bank will use that information when reviewing the supplier registration for the following year or once the contract has expired.
The Bank has adopted the three lines of defense principle in managing risks in its supply chain. The Compliance Unit is responsible for overseeing procurement in accordance with the Bank’s regulations as well as relevant laws and regulations. The Audit and Control Division is responsible for auditing relevant procurement and process. In case any stakeholders are impacted by the work or activities of the Bank’s contracted suppliers, they can file a complaint to the Bank’s complaint filing channels.
Supplier Screening
The Bank respects the rights of all suppliers and treats them equally and fairly. We have a systematic approach to screening suppliers which covers a comprehensive assessment of their capabilities to produce products and provide services, quality of products and services, trustworthiness of a supplier, as well as consideration of a supplier’s ESG performance. All suppliers, whether they are new suppliers or existing suppliers, are required to conduct an ESG self-assessment covering significant topics such as environmental impact management, respect for human rights in compliance with international principles and standards, respect for basic rights at the workplace in compliance with the International Labour Organization (ILO) Conventions, illegal use of child labor and forced labor, prevention and protection of personal data, prevention of corruption, whistleblowing channels, etc. Suppliers are required to pass the Bank’s assessment criteria before they can become registered suppliers and sign a procurement contract with the Bank. After passing the assessment process, the Bank may invite potential suppliers to meet and discuss their products and services, as well as to create an understanding of and expectations about the Bank’s guidelines to suppliers. The Bank may also conduct additional qualification assessments of suppliers based on the criteria of service capability and reliability, and there may be visits by relevant working units to supplier’s business for further inspection and assessment. In addition, the Bank has adopted an e-auction process to enhance transparency and fairness in the procurement process.
Assessment of ESG Risks in the Supply Chain
The Bank regularly assesses the ESG risks of its suppliers by focusing on critical suppliers. These are the providers of products and services with high spending value, suppliers of critical components that produce essential goods and services for the Bank, and non-substitutable suppliers that produce products and provide services that cannot be easily replaced by other sources. The Bank has identified materiality risk issues by considering the likelihood and severity of the impact as follows: Environmental: 1. Greenhouse gas emissions, 2. Energy management, and 3. Waste and hazardous material management. Social: 1. Human rights, 2. Labor practices, and 3. Occupational health and safety at the workplace. Governance: 1. Corruption, 2. Privacy protection, and 3. Fraud. If any supplier is found to have risk of a level higher than the Bank’s acceptable level, the Bank will impose either additional or more rigorous risk and impact prevention and mitigation measures as deemed necessary. In 2023, the suppliers’ ESG risk remained acceptable to the Bank. Their economic risk was also assessed to be insignificant to the Bank’s operations and performance.
Procurement that Promotes Environmentally-friendly Products
The Bank supports the use of environmentally-friendly or low carbon products and materials by procuring a variety of environmentally-friendly products such as photocopy paper produced from environmentally-friendly pulp, document forms made from recycled paper, printing toner certified to meet international environmental standards, employee uniforms with the Cool Mode label, non-CFC water mist fire extinguishers, souvenirs made from upcycled materials, water-saving sanitaryware, office supplies and office furniture certified by international standards.
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