Mr. Julapun Amornvivat, Deputy Minister of Finance, delivered a special speech on the occasion of the 30th Anniversary of Export-Import Bank of Thailand (EXIM Thailand) that the world today is driven on the basis of sustainable development starting from local community level, and all sectors have to prioritize environmental, social, and governance (ESG) concerns. Economic restructuring to be eco-friendly has thus been put on the national agenda of countries around the world to remedy the extreme climate situation which is considered the topmost threat to global economy in the long run. However, to achieve the sustainable development goals (SDGs) of the United Nations, as well as Thailand's targets of carbon neutrality by 2050 and net zero emissions by 2065, Thai government is determined to support mechanisms and policies for the country in transition toward low carbon society. Some of these initiatives increase in proportion of renewable energy power generating capacity to 50%, promotion of sustainable agriculture and income generation for farmers who represent the majority of labor force nationwide by enhancing their knowledge on value added to agricultural output, exploring ways to expand markets overseas, and attracting investments from the world's leading corporations in the future industries, such as data centers, industries contributing to bio-circular-green (BCG) economy, renewable energy, and electric vehicles, which allow for emergence of new industries that would generate revenues to the country, enable technology transfer, and upskill as well as reskill Thai labor force.
Mr. Julapun further said that achievement of the above sustainability goals lies in not only enactment of laws or formulation of policies by the public sector, but also collaboration and cooperation from all sectors, particularly SMEs and entrepreneurs in communities across the country, such as handicraft goods and lifestyle products, which are fundamental to the economy and the society. The Ministry of Finance has been well positioned to support public sector agencies under its supervision, including EXIM Thailand, in dedicating to its duties in building Thai warriors to compete on the global front in the forms of exporters or players in the export supply chain. Furthermore, such supply chain needs to be uplifted to be the green supply chain to create a green ecosystem conducive to Thai entrepreneurs' business operation under ESG framework, delivery of goods and services in response to new megatrends in the context of global trade of the new era, and taking part in driving Thai economic and export growth and competitiveness on a sustainable basis, as well as enhancing immunity for Thai economy against volatility and challenges from external situations in moving toward carbon neutrality and net zero emissions.
Dr. Rak Vorrakitpokatorn, EXIM Thailand President, revealed on the occasion of EXIM Thailand's 30th Anniversary of business operation that the critical issue to be addressed by all sectors today is the shifting of global warming to global boiling, hence putting all sectors to be exposed to intensifying natural disasters over and over again across the world including Thailand. It is thus crucial for all sectors to speedily build green economy with balanced and sustainable economic, social and environmental development to attain the SDGs and Thailand's carbon neutrality and net zero emissions targets. However, at present, Thailand's carbon dioxide emissions are 3.78 tons of carbon dioxide per person per year, which are higher than other countries in ASEAN like Indonesia and Vietnam, and Thai export of eco-friendly goods has been in a small value, i.e., only 7.6% of total export value. Thus, Thai exporters need to take a quick move to adapt to and cope with as high as 18,000 global trade measures with environmental concerns as part of the efforts to solve global environmental problems and for the business to survive and thrive viewing that businesses with ESG taken into account have recorded a more than twofold higher growth of revenues and profits than businesses in general. EXIM Thailand, as a specialized financial institution under the supervision of the Ministry of Finance, has accordingly synergized with both public and private sectors in propelling Thailand toward the low carbon society for the sustainable future of the country and the world under the Bank's role as the Green Development Bank with adoption of the "Greenovation" strategy aiming to build a green supply chain that would drive trade and investment and transform Thailand toward the green economy or the Greenomics.
EXIM Thailand is fully ready to leverage on its strength and expertise, having served as Thailand's development bank for the past three decades, to develop the "Greenovation" initiative. This initiative aims to address greenhouse gas emission scopes 1-2-3 (direct emission from owned assets, indirect emission from energy used, and other indirect emissions from business operation respectively) by enhancing the development of Thai industries with significant potential, e.g., future industries like renewable energy, electric vehicles and biochemical, processed agricultural and fishery industry, and service industies and soft power areas such as ecotourism and future food. Simultaneously, EXIM Thailand aims to support the development of Thai exporters by introducing new climate financing services and encouraging SMEs to set clear green goals to participate in the green supply chain. The Bank has sought to bridge the green knowledge gap, green opportunity gap, and green capital gap for these entrepreneurs. It offers green financing packages with special benefits, promotions and starting interest rates as low as 3.99% per annum. It aims to promote the economic ecosystem in which businesses at all levels would grow firmly and sustainably in the global trade market and respond effectively to consumer megatrends and global trade covenants of the new era. EXIM Thailand has targeted to achieve carbon neutrality by 2030 and net zero emissions by 2050, which are 20 years and 15 years ahead of Thailand targets respectively, by way of improving efficiency in management and reduction of greenhouse gas emissions within the organization along with increasing the proportion of sustainability loan portfolio to 50% of the entire portfolio by 2028.
"Throughout the past three decades, EXIM Thailand has performed duties as the development bank empowering Thai entrepreneurs and having them fully armed to enter the global market. Amid the drastic changes of the current world, EXIM Thailand will work alongside its customers and alliance agencies to bring the country toward a better and sustainable future. We will optimize our strength and expertise to develop green financial innovation (Greenovation), strengthening Thai entrepreneurs so that they can join global green supply chain, and driving national development with green economy to build a future world where there is the balanced growth of the economy, the society and the environment," added Dr. Rak.
EXIM Thailand will celebrate its 30th Anniversary of business operation on February 17, 2024. The Bank organized an event with invitation of its customers, alliance agencies from both the public and private sectors, entrepreneurs, mass media, and interested parties to attend a seminar titled "Thailand's Green Future" for exchange of views on the country's national development direction toward a sustainable future at EXIM Thailand's Head Office on February 15, 2024. The event was honored by Mr. Julapun Amornvivat, Deputy Minister of Finance, who delivered a special speech on "Thailand Green Visionary: Sustainable Development from local community to global community," along with announcement of "Thailand Greenovation" strategy by Dr. Rak Vorrakitpokatorn, EXIM Thailand President, and "Thailand's Green Future" seminar session with guest speakers comprising Dr. Santitarn Sathirathai, Future Economy Advisor at Thailand Development Research Institute, Mr. Thiraphong Chansiri, Chief Executive Officer of Thai Union Group Public Company Limited, Mrs. Suphajee Suthumpun, Group Chief Executive Officer of Dusit Thani Public Company Limited, Mr. Woramol Khamkanist, Chief Executive Officer of Impact Solar Group and Dr. Benjarong Suwankiri, EXIM Thailand Senior Executive Vice President, with Mr. Pipoauh Poomkaewkra as the MC.
With commitment toward the role of Green Development Bank, EXIM Thailand has been certified for registration of carbon label in the Carbon Neutral Event category by Thailand Greenhouse Gas Management Organization (Public Organization) (TGO) for EXIM Thailand's seminar session titled "Thailand's Green Future" at the Bank's 30th Anniversary event at its Head Office. The total carbon footprint of the event for TGO's consideration and certification was 16 tons of carbon dioxide equivalent. EXIM Thailand has supported carbon credit to compensate for the carbon footprint from the event of 16 tons of carbon dioxide equivalent from Wave BCG Plc., which is the Bank's business alliance in respect of sustainability.
Source: Export-Import Bank of Thailand
