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Krungthai Bank signs 3 MOUs for low-carbon economy

Krungthai Bank signs 3 MOUs for low-carbon economy

Matichon•Economy•59m ago

Reader Briefing

Krungthai Bank and partners signed three Memorandums of Understanding to drive Thailand toward a low-carbon economy and enhance energy security.

  • •The signing ceremony took place on October 17 at the Queen Sirikit National Convention Center (QSNCC).
  • •Three key initiatives were launched: Policy and Transition, Corporate Demand & Market Creation, and Industrial Scale-Up.
  • •The initiatives involve collaborations between the World Bank Group, government agencies, and the private sector.

Overview

  • •On October 17, Krungthai Bank and partners signed three MOUs at the Queen Sirikit National Convention Center (QSNCC).
  • •Krungthai Bank entered a Policy and Transition agreement with the Department of Climate Change and Environment to ensure a just transition to a low-carbon economy.
  • •Krungthai Bank partnered with the Stock Exchange of Thailand, Grab Thailand, ACEIS Electric and Power, and Driver AI for Corporate Demand & Market Creation and carbon market development.
  • •Krungthai Bank, the Ministry of Natural Resources and Environment, and PTT Public Company Limited collaborated on the I-SPARK initiative for low-carbon industrial investment.
  • •Payong Srivanich stated that these initiatives aim to link credible projects with real buyers through transparent frameworks and connect to international carbon credit markets.
  • •Ekniti Nitithandpraphas stated that the government aims to make Thailand a leading, transparent hub for investment and carbon markets to reduce reliance on subsidies.
  • •Ajay Banga stated that creating a credible central mechanism for carbon credits is essential to attract private capital and incentivize environmental actions.
  • •Ajay Banga noted that reducing energy use helps manage energy volatility and frees up budgets for public services like schools and roads.

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Key Entities

Organization

Krungthai Bank(ธนาคารกรุงไทย)ℹ️
A bank that signed three MOUs to accelerate the low-carbon economy.
World Bank Group(กลุ่มธนาคารโลก)ℹ️
An organization supporting the development of frameworks and credibility for the carbon credit market.
Department of Climate Change and Environment(กรมการเปลี่ยนแปลงสภาพภูมิอากาศและสิ่งแวดล้อม)
A government agency partnering with Krungthai Bank on the Policy and Transition initiative.
Stock Exchange of Thailand(ตลาดหลักทรัพย์แห่งประเทศไทย)ℹ️
A partner in the Corporate Demand & Market Creation initiative.
Grab Thailand(แกร็บ ประเทศไทย)
A partner in the Corporate Demand & Market Creation initiative.
ACEIS Electric and Power
A partner in the Corporate Demand & Market Creation initiative.
Driver AI
A partner in the Corporate Demand & Market Creation initiative.
Ministry of Natural Resources and Environment(กระทรวงทรัพยากรธรรมชาติและสิ่งแวดล้อม)ℹ️
A government ministry partnering on the I-SPARK low-carbon industrial investment initiative.
PTT Public Company Limited(บริษัท ปตท. จำกัด (มหาชน))ℹ️
A partner in the I-SPARK low-carbon industrial investment initiative.
Ministry of Finance(กระทรวงการคลัง)ℹ️
The ministry headed by Ekniti Nitithandpraphash.

Person

Payong Srivanich(นายผยง ศรีวณิช)
President of Krungthai Bank.
Ekniti Nitithandpraphash(นายเอกนิติ นิติทัณฑประภาศ)
Deputy Prime Minister and Minister of Finance.
Ajay Banga(นายอาเจย์ บังกา)ℹ️
President of the World Bank Group.

Place

Queen Sirikit National Convention Center(ศูนย์การประชุมแห่งชาติสิริกิต์)ℹ️
The venue where the MOU signing event took place.
Bangkok(กรุงเทพฯ)ℹ️
A city mentioned by Ajay Banga regarding significant changes over 40 years.

Policy

Policy and Transition (Just Transition to Thailand’s Low-Carbon Economy)
An initiative focusing on a fair transition to a low-carbon economy.
Corporate Demand & Market Creation (Low Carbon Cities (LCC) and Carbon Market Development)
An initiative focused on low carbon cities and carbon market development.
Industrial Scale-Up (I-SPARK – Low-Carbon Industrial Investment)
An initiative for low-carbon industrial investment.