Transition to low carbon business. Lead towards NET ZERO.
Upgrade business operations, shift to low-carbon business practices, and progress towards net zero greenhouse gas emissions by promoting the use of clean energy and efficient resource utilization. This includes supporting products and services that foster balance, are environmentally friendly, and can advance the country towards NET ZERO.
Environmental issues and the degradation of natural resources are global crises that affect every country. In particular, climate change is a major concern as it leads to natural disasters and directly impacts people’s quality of life and the economy. The consumption of resources and generation of waste are significant contributors to greenhouse gas emissions, which in turn contribute to climate change.
Krungthai Bank facilitates the transition to a low-carbon society by effectively managing environmental risks and impacts. The Bank has implemented environmental management guidelines that prioritize the efficient use of natural resources while reducing emissions that negatively impact the environment during business operations. This approach aims to balance responsible business practices with the pursuit of sustainable growth.
Efficiently utilizing natural resources enables The Bank to minimize operational costs, mitigate its environmental footprint, and foster stronger relationships with stakeholders. Additionally, this practice enhances The Bank’s positive reputation and ensures sustainable operations
Maximizing the efficiency of natural resource use is critical for reducing environmental impacts. Operational processes are streamlined to reduce pollution, greenhouse gas emissions, energy consumption, and resource use. Recognizing the value of resource management, The Bank emphasizes the efficient use of natural resources to maximize benefits while also cultivating a culture of responsible resource utilization. Employees are encouraged to be aware and participate in projects and initiatives aimed at managing and preventing potential environmental impacts. The Bank has implemented specific guidelines and principles concerning resource management practices, as follows:
Energy Management
Energy is an essential aspect of The Bank’s operations. The Bank has focused on process improvement and energy management by developing energy management guidelines to improve efficiency, track performance, and pursue continuous improvement.
The details of each project |
Performance |
“LED Light Bulbs Replacement” Project
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Equivalent to planting 22,857 trees |
“Air Conditioner Replacement” Project
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Equivalent to planting 342,481 trees |
Transforming Workplace Areas into Open Spaces and Co-Working Spaces
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Having open spaces and co-working spaces that can accommodate a total of 1,143 employees |
Water Management
The bank to prioritize water management efficiency, has taken actions to improve the efficiency of water usage in its office buildings and branches’ surrounding areas. These include inspecting post-treatment water quality before it is released into water sources to ensure compliance with local regulations and governmental standards, tracking water consumption, and reporting the results to the responsible department in order to initiate plans to reduce water consumption within the organization.
- Run the faucet only when needed and promptly turning it off when not in use.
- Regularly inspect the water supply system for any leaks.
- Provide communication materials to promote efficient water use among employees, such as via email and signages in restrooms and kitchens.
Details |
Performance |
At Krungthai Training Center, advanced wastewater treatment technology and a water recycling system were utilized to improve the quality of treated wastewater, allowing for its reuse recycled water to replace natural water for activities such as watering trees and lawns. |
Amount of recycled water 19,274 m3 |
Waste Management
The Bank conducted waste management following the Zero Waste to Landfill approach, aiming to manage waste generated from the Bank's activities as efficiently as possible in line with the principles of the circular economy and the Bank's sustainability framework to increase efficiency and reduce its environmental impact.
- Global Corporate Sustainability Awards (GCSA): Best Practice Award for the Project received in Taiwan.
- ESG Business Awards 2023: Waste Management Award received in Singapore.
- Sustainability Initiative of the Year: Business Intelligence Group received in the United States.
Project |
Details |
Waste Management Project |
The Bank has implemented a waste management project leveraging innovation and digital technology based on the concept of "Care for the World, Separate Waste for the World". The project has prioritized fostering an organizational culture geared towards waste reduction across the entire process, aiming to achieve zero waste to landfills. This is accomplished by establishing a knowledge foundation for employees to comprehend and implement. The actions included:
This can be considered a step towards mitigating the greenhouse effect and combating global warming. |
4R for Earth Project - Waste Management of the Retail Banking Sale & Distribution Group within the “Care for the World” Project |
The Bank has initiated a waste separation project within its offices under the concept 4R for Earth (Rethink, Reduce, Reuse, Recycle). Departments within the Southern Region Network Group, Retail Banking Sale & Distribution Group, have been carrying out waste separation at the district office and branch levels since July 2022. The project has been gradually expanded to all branches within the Retail Banking Sale & Distribution Group in August 2023. The activities included:
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Krungthai Loves Environment Project |
Under the campaign "Krungthai RELIFE: Change, Restore, Revive Life", we have encouraged our employees to change their behavior and recognize the value of the environment. Our goal is to restore nature to its best and revive the world's green areas. The details are as follows:
The Bank has installed two plastic bottle return machines, known as Relife Machines, at its headquarters and a branch at the Ministry of Finance. This technology aims to increase employee, customer, and public participation in waste separation efforts while also adding value to used plastic bottles. The plastic bottles collected are transformed into fibres that are used to make monk robes and clothing.
The Bank has processed food scraps from the Nana Nua Building's cafeteria, reducing the amount of waste sent to landfills. Food scraps emit methane gas, a potent greenhouse gas that contributes to heat energy accumulation in the atmosphere, exacerbating global warming. The biotechnology transforms food scraps into soil, which is then distributed to employees, schools, and the community for tree planting and ecosystem restoration.
Installing Shredboxes to dispose of documents in an environmentally friendly manner. The Bank acknowledges the importance of reducing paper usage and has therefore adopted technology as a primary means in its operations. It advocates for employees to print documents only when necessary, reuse paper on both sides, and manage used paper through a recycling process based on data security. This involves installing Shredbox units to destroy paper and outsourcing to a company to collect and transport paper for environmentally friendly disposal. The shredded paper is then processed into recycled paper. Shredboxes were installed in five of the Bank's main office buildings: Nana Nua Building, Sukhumvit Building, Pathumwan Building, Sri Ayutthaya Road Building, and Wong Sawang Building. Paper used in buildings can be discarded in a locked Shredbox to prevent data leaks before being recycled.
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Reducing Paper Use from Online Transactions |
The Bank has incorporated Robotic Process Automation (RPA) or Artificial Intelligence (AI) systems to enhance efficiency and reduce resource usage. Providing loans through the Krungthai NEXT mobile application in 2023 resulted in a reduction of approximately 32.76 million sheets of paper. |
Greenhouse Gas Management
To support the country’s goals on greenhouse gas emissions, The Bank has set a target to reduce greenhouse gas emissions (Scope 1 and 2) by at least 30% by 2030, compared to the base year of 2022. The Bank is currently identifying medium- and long-term targets for all activities related to greenhouse gas offsetting, absorption, and storage. Furthermore, it works to promote sustainable finance by managing greenhouse gas emissions from investment and lending activities, as well as developing action plans to reduce greenhouse gas emissions in accordance with international.
The details of each project |
Performance |
Krungthai EV & EV Charging Station
|
Equivalent to planting 288 trees |
Car Free Day
|
Equivalent to planting 98 trees |
Installation of Solar Powered Field Light
|
Equivalent to planting 170 trees |
|
Equivalent to planting 7,442 trees |
|
Equivalent to planting 2,053 trees |
Digital Bank & Virtual Bank
|
Equivalent to planting 18,286,628 trees |
Performance environment covers operations from 2020 - 2023 of Krung Thai Bank Public Company Limited Only.
Remark
- The amount of greenhouse gas emissions analyzed according to the GHG Protocol covers greenhouse gas emissions in scope 1, 2 and 3.
- The amount of greenhouse gas emissions is calculated from the amount of activities (Activity Data) that cause the greenhouse gases multiplied by the Emission Factor, referring to the Thailand Greenhouse Gas Management Organization (Public Organization) and IPCC Sixth Assessment Report.
- GHG emission intensity is the ratio of greenhouse gas emissions (Scope1 and Scope2) to full-time equivalent (FTE), by using 2022 as the base year.
- The Report is in accordance with GRI Standards 2021
- Our assurance operation is based on information regarding KTB's operations and activities in Thailand only.