Climate Change Management

Climate change and environmental degradation have been crucial issues of the global community as they directly impact developments of economies, businesses, ecosystems, biodiversity, and the life of all human, while being a problem addressed by the United Nations through its sustainable development goals

Krungsri is well aware that our business operations and economic activities could impact the environment and climate change, directly or indirectly. We, as a responsible financial institution that takes into account social and environmental footprints, place our emphasis on partnerships with the public and private sectors, as well as the civil society, in coping with the climate issues by inclusively managing the climate change in alignment with the Bank’s business operations. Measures and solutions to mitigate greenhouse gas emissions caused by the Bank’s operations toward zero percent, thereby reducing potential risks posed by and impact of climate change on our operations and customers.

Management approaches

Declare Krungsri Carbon Neutrality Vision in conformity with the United Nations Sustainable Development Goal 13: Climate Action, and Thailand’s National Determined Contributions (NDCs), as well as MUFG’s Carbon Neutrality Declaration
Conduct a Carbon Footprint for Organization (CFO) to assess the amount of greenhouse gas emissions from Krungsri Group’s business operations and identify significant sources of greenhouse gas emissions. This effort is to stipulate the practices to reduce the organization’s greenhouse gas emissions including preparation of various measures to achieve Krungsri Carbon Neutrality Vision. In this regard, the Bank assessed the carbon footprint for the organization according to the criteria stipulated by the Thailand Greenhouse Gas Management Organization (Public Organization) and the ISO 14064-1 standard. There are international standards and requirements for organizations in measuring and reporting the greenhouse gas emissions with an aim to uplift our certification standard of greenhouse gas emissions to the international level. Krungsri has been verified by Bureau Veritas Certification (Thailand) Limited.
Promote workflows and operations that help reduce emissions.Examples include digitalization that reduces the use of resources and environmental footprints, the design of Krungsri Ploenchit Office that meet the Leadership in Energy and Environmental Design (LEED) standards of the US Green Building Council (USBC) with the Gold Level of certification granted, and a solar rooftop system installed at Krungsri Learning Center, VDO conference, etc.
Promote green businesses through providing loans or financial products based on the ‘responsible lending’ principle, in alignment with Krungsri’s credit risk management policy complied by all business units.
Become a founding member of the Carbon Markets Club to promote the carbon credit exchange system, the first of its kind in Thailand, in support of the country’s transition toward a low-carbon society. The Carbon Markets Club will be one of the key mechanisms, on which Krungsri will leverage in achieving the organization’s environmental goals of reducing carbon emissions as well as supporting stakeholders’ commitments and transitions toward a climate ambition of net zero emissions.

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Climate Change Management

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