GSB Grants 48 Billion Baht on ESG Scores
text size

GSB Grants 48 Billion Baht on ESG Scores

Large entities benefit from over 10 billion baht in interest reductions.

Government Savings Bank, led by Paphakorn Ratanasate, Senior Executive Vice President, stated, “Government Savings Bank has adhered to our commitment as a Social Bank, proceeding with sustainable operations covering environment, society, and governance aspects through Green Finance. For the first time, the banking business has engaged an organisation's ESG Score as part of the credit loan approval process. Large-sized business customers are our preliminary group for GSB to enable credit approval alongside special interest rate reduction conditions for organisations accredited with a good ESG score by operating businesses focused on society, community, and environment.”

The credit approval based on ESG scores has recognised over 48.6 billion baht in allocations, comprising companies with excellent scores eligible for exclusive interest rate reductions totalling 10 billion baht. This scheme is part of an incentive programme fostering green investment and driving Thailand Green Taxonomy for sustainable investment in transition to a low carbon society, aligning with government policies.

The Government Savings Bank has successfully approved credit loans under the Green Finance promotion for four large-sized enterprises with ESG excellence recognition totalling 7.85 billion baht. This includes IRPC Public Company Limited, allocated 5 billion baht for the refinery plant improvement project and Euro 5 diesel quality improvement to reduce PM 2.5 in accordance with the Eco Factory policy; ALTER VIM COMPANY LIMITED, allocated 1.3 billion baht for the Solar System installation programme under the Private PPA contract focusing on energy management among CP Group customers to leverage competitive capacity and sustainable development, as well as carbon reduction and promotion of carbon credit purchase for carbon offset; NPS SOLAR, allocated 900 million baht for Solar Floating investment and development to distribute to customers of 304 Industrial Park (Prachinburi) to promote green power among industrial customers; and BANPU NEXT, allocated 650 million baht for the company and subsidiary solar system installation under Private PPA contract with the aim to achieve Carbon Neutral by 2030 and Net Zero by 2050.

Do you like the content of this article?