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 You Are Here: Home >About Us >Sustainable Banking >Strategy for Sustainability
Strategy for Sustainability
 


        The financial institutions, as essential intermediaries in the economic system for raising funds from the public to allocate such funds to support economic activities, plays an important role in driving and promoting concrete sustainable development of various units in the economy so that the country’s economic system to grow sustainably in the future.
        In cooperation among different organizations in the financial sector consisting of the Fiscal Policy Office (FPO), the Bank of Thailand (BOT), the Securities and Exchange Commission (SEC), the Stock Exchange of Thailand (SET) and the Office of Insurance Commission (OIC) have established the Working Group on Sustainable Finance (WG-SF) with the aim to set the direction of sustainability of the Thai financial sector to align with the 17 Sustainable Development Goals of United Nations (UNSDGs) while indirectly supporting the change of the existing economy to a sustainable norm.
        For the Thai banking sector, the BOT encourages Thai commercial banks to consider incorporating Environment, Social and Governance (ESG) concerns in all their business operations as well as in their decision-making processes in order to drive Thailand’s sustainable growth and boost the sustainable banking concept in banking secter.
        ICBC (Thai) Group aims to balance between short-term business growth and sustainable growth by setting its business directions according to its long-term commitment to be a financial bridge between Thailand and China in order to promote economic/financial and investment growth of both countries and opening new opportunities using advanced technologies from the digital banking platform developed by ICBC. Moreover, ICBC (Thai) Group places importance on prudent risk management in order to prevent all relevant risks, strictly comply with all rules and regulations of both local and international regulators as well as emphasizing on market conduct which is considered as the fundamental basis for the operations including the setting of strategies and goals that facilitate sustainable development.
        ICBC (Thai) Group places emphasis on sustainable development that aligns with the 17 sustainable goals of UNSDGs as a part of the ICBC (Thai) Group’s strategy on sustainable banking related to Environment, Social, and Governance as follows:

Environmental Dimension
• Promote green finance
        In order to drive sustainable growth in Thailand in the future, ICBC (Thai) Group intends to become a sustainable bank that promotes economic activities with concern for sustainability by determining ESG as part of the factors forconsideration of loan and investment.

• Go green operation
        ICBC (Thai) Group promotes innovation and the use of technology for developing products and services to facilitate customers and manages environmental footprint in its organization by encouraging employees’ participation in consumption of utilities and resources in terms of 3R: Reuse, Reduce and Recycle as well as energy saving in order to reduce environmental impact.

Social Dimension
• Contribute and share benefits to stakeholders
        Since the commencement of its operation in Thailand, ICBC (Thai) Group is committed not only to be a financial institution that takes part in driving the economy of the country but also an organization that has social responsibility and contribute benefit to all stakeholders, adheres to the principle good corporate governance and being a good member of the society.
• Ensure well-being and gender equality of staff
        ICBC (Thai) Group’s employees are valuable resources which are a fundamental to the growth and value creation of organization to develop towards sustainability. ICBC (Thai) Group will develop the potential employees as well as encourage and give them opportunities to be promoted equally under the established rules and policies as well as promotes employees’ participations in order to build a mutual understand of the ICBC (Thai) Group’s direction which will be able to drive the Group to grow for sustainability.
• Promote learning culture
        One of the aspects of organizational culture that ICBC (Thai) Group places importance is the creation of a learning culture. Every year, the ICBC (Thai) Group provides learning and training programs that align with the dynamic requirements of financial and economic developments. ICBC (Thai) Group also prioritizes on regularly providing trainings on laws, rules and regulations to keep all employees updated and receive accurate information that will benefit to both the organization and its employees. Additionally, ICBC (Thai) Group encourages employees to be trained from external training institutions, both domestically and internationally in order to apply new information and knowledge to be benefit for the further development of ICBC (Thai) Group’s business operations.

Governance
• Transparency in its business operations
        ICBC (Thai) Group adheres to the principle of good corporate governance, transparency, fairness, auditability and business ethics as well as strictly adhering to the rules and regulations of all regulatory authorities as well as related laws. This will be fundamental to sustainable growth in the business operations and strengthen confidence for all stakeholders of ICBC (Thai) Group.
• Fair treatment to customers
        Fair treatment to customers is fundamental to ICBC (Thai) Group’s business operations aiming to provide
customers with fair services in terms of price and condition as well as convenient access to ICBC (Thai) Group’s products and services including taking care and solving problems within a timely manner which is important in supporting ICBC (Thai) Group’s ability to conduct business with sustainability and will be benefit to society as a whole.
• Promotion of risk management foundation
        ICBC (Thai) Group strives to be the leading financial institution in Thailand by placing importance on systematic and effective risk control management covering various aspects of risk management as prescribed by the Bank of Thailand as well as the ICBC Group’s risk management guidelines to ensure that ICBC (Thai) Group has guidelines to prevent and reduce any kind of risk appropriately in a timely manner which will be a positive effect on the stability and strength of ICBC (Thai) Group and Thailand’s financial institutional system.


(2022-05-13)
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