Sustainable Development Structure

KBank has assigned the Corporate Governance Committee to supervise sustainable development operations; the Committee holds at least four meetings a year to determine operational guidelines, monitor and report to the Board of Directors.

We established the Sustainable Development Sub-committee, chaired by the Chief Executive Officer, to be responsible for driving environmental, social, and governance operations as guided by the Sustainable Development Policy framework. Our mission is to establish a Sustainable Development framework and action plans, as well as overseeing, monitoring and assessing sustainable development performance.

Meanwhile, the Corporate Sustainability Integration Department of the Corporate Secretariat Division provides support for and collaborates with the Sustainable Development Working Group, which comprises representatives of KBank departments, and pursues the Board of Directors’ instructions to ensure consistency within all operational processes, thus leading to the achievement of targets and responding to stakeholders’ needs.

Defining key sustainability issues

In 2023, KBank uplifted the assessment process for its material topics and boundaries in terms of quality. The assessment results were used for an analysis of the Bank’s business activities and relations versus the economy, environment, society and human rights based on the principle of double materiality. This differs from the process the Bank previously employed. The assessment and prioritization of each topic were conducted based on two aspects. Aspect 1: Financial Materiality is considered by the Enterprise Risk Management Division and Corporate Sustainability Integration Department; and Aspect 2: Impact Materiality is considered by representatives from KBank’s stakeholder groups.

Sustainable Development Framework and Policy

KBank develop Sustainable Development Framework and Policy to serve as a guideline in determining strategies, goals, and operational plans for the organization's sustainability.

Environmental Aspect

Goal: Ensuring environmental stewardship towards a net zero-carbon society
Commitment: We are committed to preserving the environment and reducing the impact of climate change.
Sustainable Development Policy:

Committing to becoming Net Zero in our own operations by 2030
Committing to reducing greenhouse gas emissions in our financed portfolio in line with Thailand’s aspirations; reducing greenhouse gas emissions in significantly impacted sectors, both in terms of greenhouse gas emission volume and the proportion of loans extended to each sector; and accelerating this journey where possible
Being the leader in innovative “Green Finance” in Thailand
Providing services beyond financial solutions to support decarbonization in Thailand

Social Aspect

Goal: Being a responsible corporate citizen to create a sustainable society
Commitment: We are committed to developing strong relationships with employees and society to better livelihoods and increase prosperity.
Sustainable Development Policy:

Ensuring financial inclusion and promoting financial literacy
Safeguarding customer data security and privacy
Ensuring the “Best Place to Work, Learn and Lead” by embedding Green DNA and creating future-ready workforce
Respecting for human rights and diversity
Promoting the development of youth potential as well as the pursuit of environmental, public and social activities

Economic Aspect

Goal: Being an accountable bank to create sustainable profitability
Commitment: We are committed to strong ESG principles to be a responsible and accountable bank.
Sustainable Development Policy:

Ensuring business operations under good corporate governance practices and delivering services to customers with fairness
Adhering to customer centricity by initiating financial innovations that meet every aspect of customers’ needs
Ensuring efficient risk management focusing on environmental, social, and governance (ESG) issues

KBank ESG Strategy

KBank has embraced the ESG Aspiration with the aim of becoming the ESG leader among banks in Southeast Asia. We formulated KBank’s 2023 ESG strategy to advance our business, accounting for environmental, social and governance/economic priorities with a focus on tangible result assessment and operations in conformity with globally accepted principles and standards.