through enhancing operational eco-efficiency and realigning portfolio with sustainable finance as well as Net Zero ambitions.

 

Natural resources and the environment are fundamental to the quality of life of people in society and essential for driving economic growth. As a bank for the Thai people, Krungthai Bank is committed to playing a key role in protecting these resources and supporting the transition to a low-carbon society through effective risk and environmental impact management. The bank will also seek out business opportunities from climate change efficiently in both its banking activities and value chain.

 

Efficient use of natural resources is crucial for sustainable social and economic development. Krungthai recognizes this and places a high priority on improving operational efficiency and managing natural resources for maximum benefit in every process. In addition to improving operational efficiency, Krungthai also emphasizes creating a culture of awareness, participating in environmental projects and activities, and managing and preventing potential environmental impacts from its operations. These efforts involve everyone in the organization. Krungthai has established guidelines and principles to ensure that resources within the organization are managed for maximum benefit. These guidelines and principles are as follows.

Krungthai places importance on developing efficiency through process improvement and energy management including the development of guidelines on energy management to achieve continuous and systematic development. The goal is to reduce energy consumption by 10% in 2022 compared to the base year data of 2020.

In 2022, the Bank undertook several initiatives aimed at promoting energy reduction within its premises, and carried out awareness- raising activities to promote energy management, including

The demand for water consumption is increasing, while the availability of water resources is becoming more volatile. It is therefore crucial for the business sector to prioritize water management and improve water usage efficiency, as it impacts the well-being of society as a whole. The Bank recognizes the importance of efficient water usage and is taking measures to increase it both within its office buildings and surrounding branches. Strict inspections are conducted on the quantity and quality of wastewater in accordance with local regulations, with the results reported to responsible departments. Additionally, the Bank has implemented various projects aimed at reducing water consumption within the organization and has set a goal to achieve a 10 percent reduction in water consumption by 2022 compared to the base year data of 2020.

In 2022, the Bank established guidelines for reducing water consumption within the organization and implemented activities aimed at increasing water use efficiency and improving wastewater management in its buildings and offices. Furthermore, the Bank conducted a business risk assessment related to global water scarcity (Water Risk Management) based on the geographic locations of its office buildings and branches across Thailand. This was done using the AQUEDUCT version 3.0 analytical tool developed by the World Resources Institute (WRI).

The zero waste approach has been adopted to manage waste within the Bank's operations in alignment with the principles of circular economy. We aim to reduce waste disposal by 10% in 2022 compared to the base year of 2020.

In 2022, the Bank undertook initiatives to enhance its waste management practices, with a focus on promoting sustainable recycling and fostering participation in waste management among both internal and external stakeholders.

To align with progress reporting requirements under the United Nations Framework Convention on Climate Change (Paris Agreement) and Thailand's Climate Change Master Plan (National Determined Contribution: NDC), the Bank regularly monitors direct and indirect greenhouse gas emissions (scope 1 & 2) in accordance with standards set by the Thailand Greenhouse Gas Management Organization (TGO) and the Intergovernmental Panel on Climate Change (IPCC).

In 2022, the Bank is focusing on process improvement and energy management by implementing new technologies and innovations throughout the organization to promote the reduction of both direct and indirect greenhouse gas emissions. In addition, the Bank is conducting activities to promote knowledge, understanding, and awareness of climate change among employees, including the following initiatives:

To support the fight against climate change, the Bank has developed the Krungthai Tranxit debit card product that allows cardholders to pay for fares on the bus, tram, and boat system with a simple tap, making public transportation more accessible and convenient. This is part of the Bank’s commitment to reducing greenhouse gas emissions as an integral part of its business operations.

In addition, the Bank has incorporated efficient resource management through digital innovation as a core part of its strategic plan, with the goal of reducing resource consumption and greenhouse gas emissions from its activities and transactions. This includes implementing digital processes (digitization), as well as using robotic process automation (RPA) and artificial intelligence (AI) to increase efficiency and reduce resource usage. The Bank has achieved the following results as a result of these efforts.