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Thursday, June 20, 2024

Krungsri & MUFG Host 2024 ESG Symposium

Krungsri (Bank of Ayudhya PCL) collaborates with Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group and one of the world’s largest financial organizations, to host the Krungsri-MUFG ESG Symposium 2024. This is an ESG international symposium focusing on ESG with insights from global experts. The event is honored by the presence of government agencies, senior executives from leading organizations, and ESG experts from MUFG and the World Bank, who will share valuable insights and solutions for companies as they transition to more sustainable options. This event also serves as a catalyst for advancing sustainability initiatives at both national and regional levels across the Asia-Pacific.

Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, graciously delivered the opening remarks, stating, “Following Krungsri’s 4th Medium-Term Business Plan (2024-2026) with aspiration to be “The Leading Sustainable and Regional Bank”, we have integrated the ESG framework into our business operations and are dedicated to supporting and promoting business clients’ transition to ESG practices through various activities. By 2030, we aim to provide financial support to social and sustainable business projects totaling 100 billion baht (from the base year 2021), in alignment with MUFG’s Carbon Neutrality Declaration and commitment to creating a brighter future. This commitment underscores our dedication to driving sustainable practices, corporate responsibility, and community development. Sharing this commitment, Krungsri and MUFG are joining forces and collaborating with business partners, corporate customers, and public and private organizations at national and international levels. Together, we are driving forward sustainability initiatives through diverse knowledge and expertise, alongside organizing the Krungsri-MUFG ESG Symposium 2024. This event presents businesses with a valuable opportunity to enhance their understanding and capabilities for sustainable transition. It provides updates on ESG trends and offers profound insights from decision-makers and experts at both regional and global levels. Additionally, it facilitates networking opportunities for businesses to engage with sustainability experts, fostering partnerships to advance ESG practices and lead businesses towards true sustainability.”

“With the strong collaboration of the MUFG network and its global expertise in ESG financing, Krungsri is able to introduce various financial solutions and tools to the Thai market and has succeeded in leading businesses towards sustainability. Last year, Krungsri established the ESG Finance Department (EFD), which works closely with the MUFG network to provide knowledge and understanding of sustainable finance to business customers. This involves delivering consulting services to assist in planning transitions aligned with international standards. In particular, regarding environmental issues affecting global climate change, MUFG has showcased a dedication to supporting carbon reduction in Thailand’s power industry. This was evident through their provision of policy recommendations, transition mechanisms, and insights into the financial sector’s role in addressing climate change in Asia at the 28th Conference of the Parties (COP28). These aspects are comprehensively detailed in the MUFG Asia Transition White Paper 2023, with further details to be explained at this seminar.” Mr. Yamato added.

The Krungsri-MUFG ESG Symposium 2024 features two main stages. The first stage, “Net Zero World,” presents a global perspective on sustainability and Thailand’s vision for reducing greenhouse gas emissions. It also includes insights into the sustainable practices of large Thai organizations, featuring speakers and experts from the Ministry of Natural Resources and Environment, senior executives from leading organizations, ESG experts from the World Bank, MUFG Bank, and Krungsri. The second stage, “Transition in Action,” focuses on implementing ESG practices within business operations. Esteemed speakers include Mr. Varawut Silpa-archa, Minister of Social Development and Human Security, who provides step-by-step guidance on practical implementation and accessing investment support for the future.

During the event, the Road to Sustainability exhibition will introduce attendees to sustainability concepts and strategies across all areas. This includes the impact of global climate change agreements on business operations, as well as the measures taken by Asian nations and Thai organizations to reduce greenhouse gas emissions in line with the Net Zero mission. Additionally, there will be booths showcasing sustainable solutions designed to assist businesses in their transition and achieve their carbon reduction target, including the Department of Climate Change and Environment, the Board of Investment (BOI), the Thailand Greenhouse Gas Management Organization (TGO), Siam Cement Group (SCG), and the Electricity Generating Authority of Thailand (EGAT), Zeroboard, Innopower, Scan Inter, Sitron Power, and Synergysun.

“This symposium held in Thailand is part of MUFG’s Net Zero World or MUFG NoW series. Other markets in the series included Singapore, Hong Kong, Australia, India, Malaysia, and Vietnam. This is timely as we are all at a crucial turning point in our collective journey towards global net zero. While Asia is the fastest-growing region globally, we have the most to lose from global warming,” said Mr. Richard YorkeExecutive Officer & Head of Global Corporate & Investment Banking, Asia Pacific for MUFG Bank.

“As Japan’s largest bank and the world’s seventh largest by assets in 2023, MUFG has played a prominent role in the global economy. In our next three-year plan, MUFG is committed to raising the total sustainable finance executed by 2030 from 35 trillion yen to 100 trillion yen. This is the strongest indication yet by MUFG that we are not only making good progress on our sustainability commitment but are more serious than ever about accelerating good intentions into urgent climate action. The Krungsri-MUFG ESG symposium will lay the groundwork for companies of all sizes, from SMEs to large corporations, to enable them to take their climate transition to the next level. Regardless of their organisation’s stage of the transition journey, the attendees to this symposium signify their commitment to take proactive actions to drive these global concerns forward in an urgent but measured manner,” added Mr. Yorke.

“On this occasion, Krungsri and MUFG would like to express our gratitude to all partners for their support and collaboration in hosting today’s significant ESG symposium in the Asia-Pacific region. Anticipated as another flagship event on the global platform, the Krungsri-MUFG ESG Symposium is poised to generate momentum and collaboration, broadening engagement across sectors to champion ESG as a national priority. It aims to inspire concrete actions and foster success in sustainability, transcending borders to impact not only Thailand but also the ASEAN and Asia-Pacific regions.” Mr. Yamato concluded.

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