KASIKORNBANK (KBank) recently organized “EARTH JUMP 2024: The Edge of Action” for the second consecutive year. This forum serves as a strong testament to the growing awareness among Thai businesses of climate change and its implications for their viability and sustainability. The event was presided over by Prime Minister Srettha Thavisin, who delivered a special keynote address outlining the country’s goals and strategies for transitioning towards a clean energy future. More than 40 leaders from prominent global and Thai organizations joined this event to impart their expertise and insights on how businesses and society can collectively drive Thailand towards a low-carbon economy. Meanwhile, the more than 2,000 participants gained insights into various aspects, including opportunities, regulations, measures, and banking support, while also sharing their successes. These valuable insights empower them to collectively make the low-carbon transition.
In his address, Prime Minister Srettha Thavisin highlighted the country's goals and directions in addressing global warming issues. Drawing from his recent interactions with global investors, it is evident that these investors primarily focus on attractive incentives, political neutrality, and a commitment to clean energy. He emphasized that developed nations have generally adopted clean energy sources to a greater extent than developing countries. This observation underscores the importance of Thailand’s embrace of clean energy initiatives. Thinking and taking collective action is thus imperative. To reduce carbon emissions in Thailand, knowledge dissemination is essential among both the public and private sectors. At the same time, the financial sector plays a crucial role in this transition, especially through loan support and capital markets. KASIKORNBANK has been doing this for a long time, providing continuous financial accommodations to its customers. The government will issue sustainability-linked bonds as well, with the aim of promoting relevant organizations or agencies to help implement sustainability policies. Presently, large companies understand this matter well, but the concern lies with the supply chain. If all involved cannot be drawn to embrace the same philosophy, exports will be challenging as they may face rejection. Therefore, green loans are essential to provide the necessary funding for businesses to make adjustments, as we cannot leave anyone behind.
Ms. Kattiya Indaravijaya, KBank Chief Executive Officer, said, “The GDP growth rates in many countries have substantially been in the opposite direction to their carbon emission rates. That is, the higher their GDP growth, the lower their carbon emission rates, thanks to their constant recognition of the environment’s importance, leading to adjustments and changes in lifestyle. This along with their capacities in various innovations and technologies, has not only helped them to lay the foundation for different structures, but has also promoted growth and created diverse opportunities. Meanwhile, Thailand has seen some positive signs as well. It is a good start to see the GDP recovery along with a decline in carbon emissions. This good news clearly shows that all sectors have begun to place importance on the environment. Thailand’s transition towards a low-carbon economy is not solely an individual’s responsibility, but needs the concerted effort of everyone, and that collaboration requires common regulations. Such a picture is becoming clearer this year. KBank recognizes the importance of supporting businesses to be aware of the impacts of global warming. Therefore, the Bank has organized this event for the second consecutive year to provide attendees an opportunity to understand the country's goals, domestic and international tax regulations, and financial and investment rules, as well as sharing their experiences related to business adjustments where they have taken action and seen tangible results.”
In addition, more than 40 global and Thai experts attended the event to share their knowledge and insights, aiming to drive Thai businesses and society towards a low-carbon economy. Participants gained comprehensive information through two concurrent sessions covering the country’s direction and goals, domestic and international tax rules, financial and investment regulations, as well as shared experiences from businesses that have made adaptations, fostering inspiration for green operations. The event also featured a Business Clinic where more than 70 startups and SMEs registered for exclusive, one-on-one consultations with leading experts, helping businesses in their decarbonization journey. Startups were particularly interested in business planning with McKinsey & Company, while SMEs sought advice on the key topics including Decarbonize Advisory by KBank, Solar Panel Installation by SCG, and Sustainable Packaging Solutions by SCGP. This response shows that some Thai businesses see opportunities and are ready to take action. The event attracted more than 2,000 participants, a positive sign for further business development towards a low-carbon economy. KBank expects this event to serve as a starting point for Thai businesses to effectively transition to a low-carbon economy and seize opportunities for sustainable growth.
EARTH JUMP 2024: The Edge of Action was organized as a carbon neutral event - greenhouse gas emissions from all activities were calculated and offset. The event was supported by SCG Packaging Public Company Limited (SCGP) in designing and producing exhibition structures and decorative materials, all of which are reusable and environmentally friendly.
Note: In 2022-2023, KBank’s sustainable financing and investment totaled 73,397 million Baht. That figure is expected to reach 100 billion Baht within 2024.