Thai Banks Commit to Accelerated Action on ESG, Climate

The Bank of Thailand (BOT) and Thai Bankers’ Association (TBA) have announced a commitment by the nation’s banking industry to accelerate efforts in facilitating Thailand’s green transition. The TBA said all its members have committed to implementing an ‘ESG Declaration’. Under this directive, banks have agreed to prioritise action on governance, strategy, ESG risk management, financial products, communication and disclosure. Thailand has targeted carbon neutrality by 2050 and the government has committed to reducing greenhouse gas emissions by 40% by 2030. BOT Governor Sethaput Suthiwartnarueput said: “With specified details of action plans, timelines, and key performance indicators, banks can efficiently play their predominant role in tackling Thailand’s sustainability challenges, especially on the environmental aspect where climate change issue has become intensifying.”   

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