Thailand - Country Progress Report : Supplement to the 2021 Global Progress Report of the Sustainable Banking and Finance Network (English)

Market-based sustainable finance initiatives led by members of the Sustainable Banking Network (SBN) have made significant progress in directing the financial sector toward sustainability. This SBN Country Progress Report on Thailand is based on a unique measurement framework to assess sustainable finan    Market-based sustainable finance initiatives led by members of the Sustainable Banking Network (SBN) have made significant progress in directing the financial sector toward sustainability. This SBN Country Progress Report on Thailand is based on a unique measurement framework to assess sustainable finance initiatives across emerging markets. Thailand has moved to the “Developing” sub-stage of the “Implementation” stage from the “Formulating” sub-stage of the “Preparation” stage. Thailand has formally launched its sustainable finance framework. In 2019, the Thai Bankers' Association (TBA) released the Thailand Sustainable Banking Guidelines. The Guidelines define the minimum expectations on responsible lending practices for all banks based in Thailand. Also in 2019, the Three Regulators Steering Committee established and mandated the Working Group on Sustainable Finance (WG-SF) to foster and monitor a culture of sustainable finance throughout Thailand's financial sector. In July 2020, the Ministry of Finance published the Sustainable Financing Framework to support its sustainability commitments and to set out how it intends to raise Green, Social, and Sustainability financing instruments. In 2021, the WG-SF formulated the Sustainable Finance Initiatives for Thailand, setting the direction and framework for driving sustainable finance across the financial sector. Sustainability is one of the four priorities in TBA's three-year strategic plan. TBA has been working closely with the Association of Banks in Singapore and the World Wildlife Fund since 2020 to develop an online training course on sustainable finance in the Thai language. Digital transactions and digital trade transformation are also key areas of focus for TBA.