Bangkok (NNT) - The Bank of Thailand (BoT) has launched the "Financing the Transition" initiative in collaboration with eight commercial banks.
The programme aims to support businesses in transitioning towards environmental sustainability, tailored to the local context.
During the "Financing the Transition: Sustainable Financing for Business Transition" event at BoT headquarters, the initiative was introduced with participation from Bangkok Bank, Krungthai Bank, Bank of Ayudhya, Kasikornbank, Kiatnakin Phatra Bank, TMBThanachart Bank, Siam Commercial Bank, and United Overseas Bank (UOB).
BoT Governor Sethaput Suthiwartnarueput emphasised the financial sector's crucial role in aiding Thai businesses, particularly SMEs, to adopt sustainable environmental practices. He highlighted the need for a balanced approach considering Thailand's unique economic context, which
includes a significant presence of brown industries and many SMEs struggling to adapt.
Ronadol Numnonda, Deputy Governor of BoT, outlined the central bank's roadmap for promoting sustainable finance. This includes raising awareness of
the banking sector's role in sustainable economic growth, setting financial sector directions for environmental sustainability, and establishing a
supportive ecosystem in collaboration with relevant agencies.
The programme aims to provide comprehensive financial products tailored to the needs of various customer segments, focusing on tangible and scalable environmental sustainability practices. It covers critical economic sectors such as food and beverage manufacturing, agriculture, construction,
real estate, and hospitality./.
