Banks ramp up green initiatives

Beyond sustainable finance, institutions are promoting environmentally responsible building standards, writes Somruedi Banchongduang

- Somruedi Banchongduang

In advancing sustainable business practices, banks are doing more than offering green financial services to clients.

Equally important is the transition of their operations to align with sustainable banking principles — an effort that includes upgrading their facilities to meet green building standards.

LEED CERTIFICATION

Kasikornbank (KBank) integrated green technologies into its operations, emphasising an environmentally responsible design in its operations and buildings.

The bank prioritises energy efficiency, clean energy systems, advanced air conditioning, water conservation, waste management, and biodiversity enhancement, according to Pipit Aneaknithi, chairman of global sustainability at KBank.

KBank has six buildings certified by the US-based Leadership in Energy and Environmental Design (LEED) programme: the Kasikorn Business Technology Group Building, Chaeng Wattana Building, Phahon Yothin Building, Building 3 of the Kasikornthai Learning Center, Kloud by KBank Building, and the KBank (China) head office in Shenzhen.

The real estate sector is a significant contributor to global CO2 emissions, accounting for about 40% of the total. In response, regulatory bodies worldwide have been introducing stricter environmental standards.

For instance, new buildings in the European Union must achieve zero emissions by 2028.

Mr Pipit said KBank is prepared to comply with evolving standards and supports clients in their sustainability efforts through green financial solutions such as financing for solar photovoltaic systems and energy efficiency upgrades.

He said the bank is ready to help clients transition to green building standards by promoting the use of low-carbon construction materials such as green cement and green steel, which were developed ahead of nearing technology tipping points.