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Thai SET partners with EXIM BANK to promote sustainable development loans
The Stock Exchange of Thailand aims to develop all sectors to grow together sustainably. It has signed a memorandum of understanding with the Export-Import Bank of Thailand (EXIM BANK) under the ESG Data Linkage and Exchange Project to promote and support the ecosystem for sustainable finance, including data on sustainability performance of listed companies (listed companies) via the ESG Data Platform system and support the SET Carbon system for the bank’s customers to operate in line with sustainability goals.
The Stock Exchange of Thailand and EXIM BANK will jointly develop loans using ESG data as a consideration starting from the third quarter of 2024 and will start providing services in 2025.
Dr. Pakorn Peetathawatchai, Director and Managing Director of the Stock Exchange of Thailand, revealed that the Stock Exchange of Thailand sees the continuous growth in demand for ESG data among investors and financial institutions that use ESG data to support the issuance of financial investment products for sustainable development purposes. The Stock Exchange of Thailand has been accelerating the development of technologies and platforms to support ESG data. Currently, there are ESG data management systems such as the SET ESG Data Platform, which has provided data services since 2023, collecting ESG data from over 700 listed companies.
The SET Carbon system is also being tested by pilot companies in 2024 and will be officially launched in 2025, which will enable listed companies and companies in the supply chain to efficiently compile and verify greenhouse gas emission data on a single system. In addition, the Stock Exchange of Thailand is moving forward to build cooperation with both domestic and international agencies to continuously exchange and utilize data, especially the use of ESG data for fundraising and investment. The Stock Exchange of Thailand believes that this cooperation with EXIM BANK will help increase opportunities for the business sector to access more sources of funds and financial instruments. This is an important step in developing a sustainable financial ecosystem for Thailand.
Dr. Rak Vorakitpokatorn, President of Export-Import Bank of Thailand (EXIM BANK), revealed that the banking and financial sector is important for driving balanced growth in economic, social and environmental dimensions, including solving the current global environmental problems. Banks around the world, especially development banks, play an important role as a source of funds to support the business sector to adapt and grow, accounting for up to one-third of the global Climate Finance value. As Thailand’s Green Development Bank, EXIM BANK has continuously developed green finance innovations (Greenovation) that support environmentally friendly projects or businesses.
This collaboration with the Stock Exchange of Thailand is an integration of cooperation between the public and private sectors, using international standard databases as inputs to drive the development of Thailand’s banking and financial sector towards sustainability, helping to encourage the business sector to be more mindful of the environment, society and good corporate governance (ESG). ESG data from the Stock Exchange of Thailand will help banks operate their businesses more efficiently, while the business sector is promoted to access various financial products and privileges, as well as participate in the Green Export Supply Chain, enabling them to develop reports and plan for greenhouse gas management conveniently and efficiently. Ready to comply with international environmental standards and achieve sustainable development goals, driving Thailand towards carbon neutrality and net-zero greenhouse gas emissions.
The Stock Exchange of Thailand and EXIM Thailand will connect and exchange information to increase operational flexibility and opportunities for entrepreneurs who need investment to support sustainability goals and jointly develop financial products, services, and benefits for stakeholders. In addition, we will further develop and enhance the sustainability ecosystem to enable Thai entrepreneurs to operate, improve, develop, or plan investment management in businesses to achieve sustainability goals and business goals, especially guidelines for climate change operations. For more information, please contact the Sustainability Service Development Department, Stock Exchange of Thailand, Tel. 0 2009 9894 or 0 2009 9887 or the Product Development Department, Export-Import Bank of Thailand, Tel. 0 2169 9999.
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