TMBThanachart (ttb) is actively working towards transforming Thailand into a low-carbon economy in pursuit of sustainable development. As the only financial institution in Thailand to be awarded "Best Issuer for Sustainable Finance Thailand" and "Best Blue Bond" from The Asset Triple A Country Awards for Sustainable Finance 2022, organised by The Asset, an Asian leading financial magazine, TMBThanachart is demonstrating its dedication to becoming a sustainable financial institution. These two awards are a testament to the company's clear climate change management plan, which includes a goal to increase green loans every year and develop products that meet the needs of long-term sustainability.
Mr. Piti Tantakasem, CEO of TMBThanachart (ttb), stated that the company is committed to promoting environmental sustainability in all aspects of its operations, from operating models to product offerings, in line with ESG principles. “TMBThanachart is working towards promoting a transition to a low-carbon society and creating environmental changes through developing products that support climate change mitigation and adaptation, pollution and waste management, and the conservation and restoration of the environment and natural resources,” he said. “The company is proactively providing funding to clients who want to develop sustainable business models through loans for climate finance, aiming to bring benefits to both customers, society, and the environment.”
Recently, TMBThanachart became the first and only financial institution in Thailand to receive the "Best Issuer for Sustainable Finance Thailand" award from The Asset Triple A Country Awards for Sustainable Finance 2022, organised by The Asset, Asia's leading financial magazine. The company was also awarded the Best Blue Bond for issuing blue bonds, Thailand's first marine sustainability bond. These awards reflect TMBThanachart's commitment and global recognition by leading organisations for international sustainability standards.
In addition, TMBThanachart has implemented a clear and effective climate change management plan, including a goal to approve more green loans every year. The company has supported loans of up to 300 million baht for Prime Road Group to invest in a 60 MW solar farm project in Cambodia. It has also provided loans to a Thai company called Constant Energy Group to expand its portfolio of large-scale solar projects. It has also provided loans worth of 1,100 million baht for Spring Tower project, a building designed according to the globally recognised Leadership in Energy and Environmental Design (LEED) Gold standards. The company has also supported green loans worth 1,000 million baht for Bangkok Dusit Medical Services Public Company Limited (BDMS) to develop environmentally-friendly buildings for Bangkok International Hospital (BIH) in line with LEED Healthcare Standard Gold Level. BIH is Thailand’s first hospital to request such a green loan.
TMBThanachart also supports transformation of low-carbon logistics through its green loans for EV and batteries project by issuing long-term loans worth 500 million baht to Thonburi Energy Storage Manufacturing Co., Ltd., a producer of PHEV and BEV batteries, to support investment in the EB400 project to drive sugarcane production sustainably. The bank also has introduced sustainability-linked loans for Asia’s largest sugar producer, Mitr Phol, to cope with problems with access to financial services and climate change. This can reduce greenhouse gas emissions by 127,000 tons in 2021. Since the start of this project, at least 8,000 farmers have had have access to more effective finance to develop sustainable practices.
"TMBThanachart recognises the risks and impacts of climate change and believes that a transition to a low-carbon economy is essential. We are the first Thai commercial bank to issue green bonds and blue bonds, and we received 'The 4th Green Bond Pioneer Awards' and were acclaimed as the new country that brings green bonds to the world market. Our success was also reinforced by two more awards in 2022: Best Issuer for Sustainable Finance Thailand and Best Blue Bond from the world-class stage The Asset Triple A Country Awards for Sustainable Finance 2022, reflecting the bank's commitment to operate business for true sustainable growth," said Mr. Piti.