KASIKORNBANK (KBank) has launched its KBank Climate Strategy 2024 to assist Thai businesses in transitioning to new business models in the "Climate Game" era, where environmental and social factors significantly impact business value. KBank is committed to achieving net-zero emissions through green operations and finance.
Mr. Pipit Aneaknithi, KBank President, highlighted the importance of this strategy following COP28's historic agreement to transition away from fossil fuels, which will impact businesses globally, including Thailand. To support businesses in this transition, KBank has outlined its Climate Strategy 2024 to promote long-term sustainable growth.
Key Strategies:
1. Green operation:
• KBank aims for net-zero emissions from its operations (Scope 1 & 2) by global standards.
• Initiatives include solar rooftop installations and transitioning to electric vehicles.
• KBank reduced GHG emissions by 12.74% in 2023 compared to 2020.
2. Green finance:
• KBank provides green loans, transition finance, and investments in sustainable businesses.
• Financing for sustainability totaled 73,397 million Baht in 2022-2023, with plans to reach 100 billion Baht in 2024.
• The Bank focuses on reducing emissions from key industries through its Sector Decarbonization Strategy.
3. Climate solutions:
• KBank offers comprehensive environmental solutions, including advisory services and reduction solutions for businesses and consumers.
• Initiatives include electric motorbike rental services and the Punfai application for energy exchange.
4. Carbon ecosystem:
• KBank is developing services in carbon credit-related transactions to offset carbon emissions.
• Partnerships with INNOPOWER Co., Ltd. facilitate the registration and sale of Renewable Energy Certificates (RECs).
Connecting sectors for transition:
• KBank acts as an intermediary between businesses, consumers, policy makers, and knowledge institutions to drive the transition to environmentally friendly business models.
• The Bank's goal is to support Thai businesses in seizing opportunities in the emerging zero-carbon economy.
Through its Climate Strategy 2024, KBank aims to support businesses in their decarbonization journey, enabling them to thrive in the changing economic landscape while promoting sustainability and growth.
