The Stock Exchange of Thailand (SET) has entered into a Memorandum of Understanding (MOU) with Export-Import Bank of Thailand (EXIM Thailand) to enhance the ecosystem for sustainable finance. This collaboration, under the ESG Data Linkage and Exchange Project, aims to leverage sustainability performance data of listed companies via the ESG Data Platform. In addition, the partnership will support the SET Carbon system for EXIM Thailand's clients to achieve sustainability goals, aligning with SET’s commitment to driving all sectors towards sustainable growth.
SET and EXIM Thailand will jointly develop environmental, social, and governance (ESG)-linked financing in the third quarter of 2024, with the lending service scheduled to commence in 2025.
SET President Pakorn Peetathawatchai said that SET has recognized the growing demand for ESG data among investors and financial institutions to develop ESG-related financial and investment products for sustainable development. SET has accelerated the development of ESG data technologies and platforms to meet the demand. Currently, SET has a broad range of ESG data management systems, including the SET ESG Data Platform, which has been operational since 2023 and has compiled ESG data of over 700 listed companies. The upcoming SET Carbon system, slated for 2025, will enable listed companies and their supply chain partners to efficiently calculate and report greenhouse gas emissions.
Furthermore, SET unwaveringly fosters collaborations with both domestic and international entities to ensure continuous data exchange and utilization, particularly in using ESG data for fundraising and investment purposes.
The collaboration with EXIM Thailand is expected to increase opportunities for the business sector in accessing funding and financial tools, marking a significant step in developing a sustainable financial ecosystem in Thailand.
EXIM Thailand President Rak Vorrakitpokatorn emphasized the banking sector's crucial role in driving balanced growth across economic, social, and environmental dimensions as well as tackling today’s environmental challenges. Development banks worldwide are pivotal in providing financing that supports businesses in adapting and thriving, representing up to one-third of global Climate Finance. Positioned as Thailand’s Green Development Bank, EXIM Thailand has continuously developed Greenovation to support environmentally friendly projects and businesses.
This partnership with SET represents a collaborative integration between public and private sectors, utilizing an internationally standardized database to propel the Thai financial sector towards sustainability. It also encourages businesses to become more aware of ESG. ESG data from SET will enhance the efficiency of EXIM Thailand's operations while promoting business access to various financial products and benefits, including participation in the Green Export Supply Chain. This will facilitate efficient and effective greenhouse gas management and reporting, compliance with international environmental standards, achievement of sustainable development goals, and drive Thailand towards carbon neutrality and net-zero greenhouse gas emissions.
This partnership will facilitate data connectivity and exchange, increase operational flexibility, and create opportunities for businesses seeking investment to support sustainability goals. SET and EXIM Thailand will co-develop financial products, services, and benefits for stakeholders, while expanding the sustainability ecosystem to help Thai businesses achieve their sustainability and business objectives, particularly in climate change strategies.
For more information, contact SET's Sustainability Service Development Department at +66(0) 2009 9894 or +66(0) 2009 9887, or EXIM Thailand's Product Development Department at +66(0) 2169 9999.
