,Thailand
Photo credits Unsplash.

KBank to eliminate long-term loan for coal power by 2030

KBank is a signatory of the UN's sustainable financing initiative.

Kasikornbank (KBank) will have completely discharged its existing long-term loan for coal-fired power generation by 2030, as a signatory of the United Nations' sustainable financing initiative.

In line with being a signatory of the UN Principles for Responsible Banking, the first and only Thai commercial bank to do so, KBank has granted ‘green loans’ to environmentally friendly businesses and has refrained from financing new coal-fired power generation unless there is an energy transition strategy to other low carbon resources.

In 2019, the United Nations Environmental Program Finance Initiative launched the UN Principles for Responsible Banking in a bid to help prevent climate change through sustainable financing. To date, 240 banks from 69 countries has signed the agreement to invest in more sustainable and environmentally-friendly projects.

According to Kattiya Indaravijaya, CEO of KBank, climate change is a high agenda not just for the bank but for the planet.

“KBank’s continuing role that is in line with the UN PRB is its business engagement, which is based on the principles of a Bank of Sustainability. Despite challenges from the COVID-19 pandemic, KBank continues to place emphasis on an environmental, social and governance (ESG) risk assessment together with ensuring that its customers can weather the crisis and press ahead with their businesses and lives amid the ‘new normal’ environment,” Indaravijaya said.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Anju Abrol has over 30 years of banking experience.
Tse Yi-Mun will lead the bank’s north Asia branch as its managing director and group head.
Clients can now purchase SC Hong Kong’s wealth management products.
Citi plans to offer around 100 types of wealth products from the mainland.
Agents can apply for the loan through the BRILink Mobile application.
The delinquency ratio has been on the decline since May 2018.
The market is forecasted to rebound by over 15% in 2021.
The fund aims to achieve a potential monthly dividend payout of 5% per annum.
Its Vice President of Solution Consulting in Singapore discussed how to bridge the digital gap and humanise the banking experience in the new normal.
There is an increased demand for loans for home purchases and 'jeonse.’
The partnership is eyeing 16 million customers by 2025.
The U-Energy platform has nine partners that can support energy efficiency projects.
The bank expects its own climate financing in 2019-2021 to reach $17b.