Mitihoon – Mr. Chongrak Rattanapian, President of KASIKORNBANK, said, “Thailand faces multiple challenges. These include domestic structural issues, which have affected national competitiveness, such as high public and household debts, as well as geopolitical conflicts and trade wars. Critical among these external factors is climate change, as reflected in the trade measures imposed by key trading partners. For example, the European Union is set to collect a carbon tax under the EU Carbon Border Adjustment Mechanism (CBAM), starting in 2026. The EU CBAM is projected to have an increasing impact on Thai exports, expanding from the current coverage of goods valued at Baht 11 billion to approximately Baht 28 billion by 2030. Therefore, businesses that adapt early will gain a competitive advantage.”
Based on a comprehensive assessment of prevailing factors, KBank has reviewed its sustainability strategy, with the aim of enabling the Bank to adapt faster to changes and respond more effectively to the needs of customers and society. Consequently, the Bank has shifted from an ESG-based strategy (environmental, social, and governance) to a new sustainability approach, with emphasis on holistic issue-based strategy that integrates relevant perspectives and positions specific core objectives as the central focus of its operations.
Issue-based Strategy
Driven by a commitment to lead all sectors in navigating challenges and achieving shared sustainable growth, the KASIKORNBANK Sustainability Strategy 2025 is designed under the Issue-based Strategy concept. This approach emphasizes holistic management of core issues, integrating all dimensions, including environmental, social, and governance. These efforts are defined as three core objectives designed to deliver to all stakeholders:
- Be a Most Trusted Bank: Serve as a most trusted bank, helping shareholders navigate challenges and achieve sustainable growth via customer service, governance and
- Reinforce Future-Ready Resilience: Future-ready ourselves and our stakeholders to better navigate uncertainties and unlock new growth opportunities through risk management, innovation, and capability development.
- Enable Inclusive Growth: Empower our stakeholders to achieve their full potential and drive sustainable growth through an inclusive transition to a low-carbon economy, financial empowerment and equity.
Under this strategy, KBank is empowered to drive growth seamlessly alongside the integration of sustainability across all its operations, thus enable the Bank to see opportunities to deliver positive impacts across multiple dimensions.
Examples of KBank’s initiatives that delivery positive impacts | 1. Strengthening Capabilities to Enhance Resilience
KBank is not only a provider of credit and financial services but also a partner in building resilience and strength for customers, businesses, and society. This is achieved by offering comprehensive financial solutions along with knowledge and tools essential for sustainable growth.
Innovative and Efficient Financial Solutions: We enhance end-to-end credit transformation while adopting a proactive risk management strategy. By applying Data & AI across the process, we improve efficiency and accuracy as well as ensuring responsible lending aligned with each customer’s potential. Focus is on commercial credits for medium enterprises and above and project finance approved with 100-percent ESG risk assessment, and the sustainable finance and investment target increased to Baht 400-500 billion by 2030. We innovate financial solutions for all customer segments, such as expanding access to retail loans through KIV, promoting environmentally friendly electric vehicles via KLeasing, and supporting industry’s transition to alternative energy through KF&E’s business solutions. Moreover, KAsset strengthens sustainable investing by creating opportunities in ESG-driven businesses. Currently, KAsset holds the No.1 market share in Thailand for ESG Fund and SRI Fund, with assets under management (AUM) of Baht 38.9 billion and Baht 37.9 billion, respectively. Additionally, the Beacon Impact Fund focuses on investing in startups that generate positive social and environmental impacts.
Impacts beyond Finance: We elevate financial literacy and capabilities, empowering every life and business, while embedding ESG consciousness into every endeavor. Notable initiatives include: the “SATI” campaign – raising awareness to stay ahead of online fraud proliferation, reaching over 16.4 million people; Economic updates, business trends and ESG insights by KResearch, engaging over 6.58 million readers; K SME Care – expert insights, networking, mentorship, growth tools and banking support for more than 1.8 million SMEs; and market updates and ESG investment trends by K Wealth, with over 1.68 million website page views and 11.19 million YouTube views. We have also introduced SKILLKAMP – developing digital skills and future potential for the next generation, offering 355 courses with 8,000 registered participants; and KATALYST – fostering sustainable growth for startups through expert mentorship, networking, and skill-building workshops, with 155 startups successfully completing the program.
Examples of KBank’s initiatives that deliver positive impacts | 2. Accelerating Climate Transition to Secure a Sustainable Future
KBank declared its Net Zero Commitment in 2021 and aims to become “The Most Comprehensive Climate Solution Provider” – moving “beyond finance” to build the essential capabilities and competitiveness for our customers.
Driving the Bank’s mission towards the Net Zero Commitment creates continuous, transformative outcomes, as follows:
The Bank has reduced greenhouse gas emissions from its operations to achieve the Net Zero Commitment by 2030. The Bank was able to reduce its greenhouse gas emissions by 17.02 percent in 2024 compared to the 2020 baseline through various initiatives, such as installing solar PV systems across all main buildings and 161 branches, deploying more than 354 electric vehicles, and maintaining carbon neutrality certification continuously for eight years (2018-2025).
The Bank is driving its portfolio to achieve the Net Zero Commitment in accordance with Thailand’s Aspiration, aligned with the nationally determined contribution (NDC) goals. Additionally, it is accelerating implementation in feasible areas as quickly as possible. It has formulated a sector decarbonization strategy to closely manage and support the transition across six industrial sectors, including power plants, upstream oil and natural gas, thermal coal mining, cement, aluminum, and automotive. The power plant industrial sector portfolio has reduced its greenhouse gas emission intensity per gigawatt hour (GWh) by 26 percent in 2024 compared to the 2020 baseline.
The Bank supports its customers in transitioning to low-carbon businesses by providing financial, knowledge, and technological support through loans and investments, with a cumulative total of ESG loans and investments exceeding Baht 173.231 billion (as of August 2025), helping reduce greenhouse gas emissions by more than 2.74 million tons of carbon dioxide equivalent. Such loans and investments comprise electric vehicle loans for more than 39,000 vehicles, green building loans covering more than 1 million square meters, loans for more than 500 sustainability business projects, and operations in the ‘beyond banking’ dimension.
The Bank has refined its sustainable finance and investments target to Baht 400-500 billion by 2030 to effectively accelerate the transition to a low-carbon economy, while also being committed to developing ‘beyond banking’ solutions to deliver climate solutions that will enhance customer capabilities and promote the creation of a comprehensive carbon ecosystem addressing all dimensions of climate change mitigation. Such solutions include providing sustainability and greenhouse gas reduction advisory services for businesses needing to adapt, developing the KClimate1.5 tool for greenhouse gas inventory preparation, establishing the Creative Climate Research Center as a hub of knowledge and collaboration for solving global warming issues, and initiating various projects to create a carbon ecosystem in society, such as the Watt’s Up platform for electric bikes, the Green Pass platform for Renewable Energy Certificate (REC) requests, and the K-GreenSpace platform that makes it easier for customers to access green living solutions.
In addition, the Bank believes that driving Thai businesses towards a low-carbon economy requires collaboration from all sectors; therefore, it has partnered with allies from the private, government, financial, and academic sectors to establish the “Thailand Climate Business Network: Thai CBN,” which has more than 34 member organizations jointly pushing for practical climate-related practices, ranging from the SME level to national policy proposals. The Thai CBN has crafted the “E-Handbook for Greener SMEs” and the “White Paper – Climate Ecosystem Collaboration” to deliver to the government, marking a starting point for creating synergistic power between the business sector and the government sector in accelerating the country’s sustainable and inclusive transition.
Empowering every life and business to move forward, overcome all challenges, and continue to grow
Mr. Chongrak concluded, “KBank has consistently operated on the principle of being a sustainability bank, has holistically integrated its sustainability strategy, creating tangible and measurably positive impacts, and emphasized that every mission of the Bank requires collaboration from all interconnected sectors within the ecosystem, to build a resilient, strong, and quality foundation for stakeholders in a balanced manner, so that every life and business can move forward, overcome all challenges together, and continue to grow with stability and sustainability.”
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