Bangkok: The Stock Exchange of Thailand (SET) partners with Krungsri Bank to support SMEs in measuring carbon footprint and accessing sustainable funding. The collaboration aims to create a Sustainable Finance Ecosystem, helping SMEs use the SETCarbon platform to manage carbon data and develop transition plans, enhancing readiness for global regulations and access to sustainable funding. Three financial institutions are already involved in this initiative. Krungsri Bank targets 350 billion baht in sustainable loans by 2030, with special interest rates starting at 3.5%.
According to Thai News Agency, the partnership between the Stock Exchange of Thailand (SET) and Krungsri Bank is committed to supporting Thai SMEs in building a foundation for sustainable growth. This initiative focuses on developing a sustainable finance ecosystem, starting with providing knowledge and understanding of ESG (Environmental, Social, and Governance) frameworks. It supports the use of the SETCarbon platform for managing and reporting organizational greenhouse gas emissions and promotes the development of transition plans to reduce emissions. These efforts enhance capabilities and increase access to sustainable finance.
Mr. Sornpol Tulyasathien, Deputy Managing Director and Head of Corporate Strategy and Finance at the Stock Exchange of Thailand, emphasized the importance of carbon data in transitioning to a low-carbon economy. As global trade rules and environmental measures increasingly influence trade conditions, financial institutions and investors are prioritizing climate risk management. Developing a high-quality data infrastructure linked to the financial sector is crucial for enhancing the long-term readiness of Thai businesses.
"This collaboration with Krungsri will support Thai entrepreneurs, especially SMEs, in preparing for stricter climate regulations and standards. SETCarbon provides a systematic carbon data management tool, supporting data reporting and access to funding for business transformation. Currently, over 380 accounts use SETCarbon, with a more than 30% increase in users over the past six months. The majority of users are listed companies. SET has integrated the SETCarbon system with Krungsri's clients and now partners with three financial institutions: EXIM BANK, TTB, and Krungsri," Mr. Sornpol said.
Ms. Duangkamol Limphuangthip, CEO of the SME Business Banking Division at Krungsri Bank, stated that Krungsri supports SME entrepreneurs in transitioning to low-carbon operations. Recognizing the need for knowledge and best practices, Krungsri has implemented the Krungsri ESG Academy project. This year, with SET's support, Krungsri uses the SETCarbon platform to help entrepreneurs manage greenhouse gas emission data systematically, increasing credibility and facilitating access to sustainability funding. Currently, 60 entrepreneurs have expressed interest.
"Krungsri offers financial support to entrepreneurs seeking to improve processes and reduce emissions through special interest rate loans at 3.5% for the first two years. This enhances business liquidity and investment in environmental protection," Ms. Duangkamol said.
The tourism and manufacturing industries are most interested in transitioning to sustainability. Krungsri has pledged 350 billion baht in financial support to sustainability projects by 2030, already disbursing 250 billion baht. This collaboration is crucial in linking knowledge, tools, and financial support to enhance Thai entrepreneurs' capabilities and drive sustainable growth.
Organizations interested in the SETCarbon system can contact SET's Sustainability Services Development Department at 0 2009 9844 or 0 2009 9597. Krungsri customers can contact the Business Customer Service Center at 0 2626 2626, Monday to Saturday, 8:00 AM to 8:00 PM, excluding public holidays.