Thailand's best bank for ESG 2022: Kasikornbank
Kasikornbank added a major feather to its cap in February when it earned S&P Global’s highest ESG scores in Asean. It also won S&P’s prestigious Global Silver Class distinction.
KBank, led by chief executive Kattiya Indaravijaya, is the only Thai bank to have been included in the Dow Jones Sustainability Indices for five years running. These wins play to the bank’s strategy of positioning itself as a sustainability firm key to Thailand’s economic development, while having diverse profit streams.
While many peers in Thailand are only now signing onto the United Nations’ sustainable development goals, Thailand’s second-biggest lender is thinking bigger: a firm net-zero commitment.
KBank’s corporate governance committee already reports annually on progress toward carbon neutrality – not just within the bank, but the universe of clients it transacts with. It means playing an ever-bigger role in devising technology, regulatory incentives and the actions of its broader system.
The centre of KBank’s sustainability framework is an ambitious 12-pronged approach: becoming net zero before 2030; urgently decarbonizing financial portfolios; leading the green finance charge in Thailand; supporting green solutions beyond finance; increasing literacy around sustainability issues; promoting future-ready working environments; championing human rights diversity; promoting environmentally themed youth programmes; making good government practices greener; incentivizing financial innovation; honing risk management practices related to ESG; and promoting accountability.