PTT, PTTEP, Krungthai Bank launch "Green Deposit"
Krungthai Bank has set a new standard for Thai commercial banks by introducing “Green Deposits” in Thai baht and US Dollar denominations under the Green Financing Framework, with ISS Corporate Solutions (ISS-ESG) as the external reviewer to ensure compliance with international standards for green financing principles.
The bank solidifies its leadership in ESG financial solutions by partnering with PTT and PTTEP to launch Thailand’s inaugural “Green and ESG-linked Investment Program.” This initiative caters to the companies’ diverse investment needs while promoting sustainable growth.
PTT and PTTEP's green deposits will fund environmentally beneficial projects like renewable energy, clean transportation, and green buildings. ESG metrics are defined, and the bank offers extra returns or carbon credits if ESG targets are met. This collaboration underscores the commitment to long-term sustainability goals.
Auttapol Rerkpiboon, President and CEO of PTT Public Company Limited (PTT), announced an increased focus on environmentally friendly clean energy investments, expanding beyond the energy sector. PTT has integrated green principles into its financial strategy for balanced growth.
They recently invested in green deposits with Krungthai Bank, directing funds to eco-friendly projects like renewable energy, clean transportation, and green buildings. Krungthai offers additional returns or high-quality carbon credits meeting T-VER standards based on PTT and PTTEP's ESG performance.
This partnership aligns business plans with sustainable development, emphasizing ESG performance and a shift toward eco-friendly models. PTT Group targets carbon neutrality by 2040 and net zero emissions by 2050, contributing to Thailand's low-carbon future and enhancing quality of life.
Montri Rawanchaikul, CEO of PTT Exploration and Production Public Company Limited (PTTEP), emphasizes sustainable growth through core businesses like petroleum exploration and production, focusing on energy security and decarbonization. Investments in low-carbon projects, emission reduction technologies, and reforestation support PTTEP's 2050 Net Zero Greenhouse Gas Emissions goal.
Krungthai Bank's CEO, Payong Srivanich, highlights the bank's commitment to innovation, environmental practices, and achieving net-zero emissions. Their green financing framework aligns with international standards, offering green products like deposits and loans that promote economic and social sustainability. Collaboration with PTT and PTTEP in green investments and ESG-linked initiatives underscores their dedication to driving positive environmental changes and sustainable financial outcomes in Thailand.
