Bangkok, May 26 – Krung Thai Bank and Singha Estate have entered into an interest rate hedging derivative contract linked to carbon credit. The first time in Thailand, stepping into Net Zero
Mr. Rawin Bunyanusas, Executive Vice President Money Market Business Division Krung Thai Bank It was revealed that the Bank and Singha Estate Public Company Limited entered into a carbon credit linked interest rate derivatives contract for the first time in Thailand. It is a new innovation in the Thai capital market. That helps manage interest rate risk effectively. Ready to support the supply of quality carbon credits to Singha Estate to offset the carbon emissions from the company's carbon emissions (Carbon Offset) if the company can achieve ESG goals by specifying the qualifications of carbon credits in the application sector. Voluntary Carbon Credit to support both the Thai standard (T-VER) certified by the Greenhouse Gas Management Organization (TGO) and the international standard Verified Carbon. Standard issued by the Verra Association. It also defines the categories of carbon credits derived from nature-based carbon reduction projects. (Nature-Based Solution) such as protecting and restoring forests, etc., in order to meet the goals of the Singha Estate group that focuses on maintaining the balance of the environment and the ecosystem efficiently. coupled with sustainable growth
“This cooperation Emphasizes being the market leader in sustainable financial services (ESG Financial Solution) that designs and develops services that meet the needs of customers' business exactly. This is in line with the upward trend of interest rates. and the trend of doing business in a new era that is environmentally friendly And meet the Sustainable Development Goals (SDGs) of the United Nations (UN) in Article 13 on dealing with climate change. The Bank has applied financial tools for comprehensive management. In addition, if Singha Estate is able to reduce greenhouse gas emissions and meet its ESG goals, the Bank will support the provision of carbon credits. To promote environmentally friendly business Supporting the country's Net Zero Emissions goal for sustainable growth," said Mr. Rawin.-Thai News Agency
Source: Thai News Agency