Charging ahead on saving forests

Local card issuers join global campaigns for sustainability, writes Somruedi Banchongduang

- Somruedi Banchongduang

As sustainability rises to the top of Thailand’s economic agenda, local banks are increasingly partnering with global payment networks to introduce eco-friendly cards — turning everyday financial transactions into tools for environmental action.

REFORESTATION THROUGH BANKING

A recent effort comes from Krungthai Bank (KTB), the country’s second-largest lender by total assets, which launched the Krungthai Mastercard Rak Lok Debit Card as part of a global reforestation programme.

The move reflects a broader shift within the financial sector towards greener products that align with both national climate targets and global sustainability goals.

KTB partnered with Mastercard, Conservation International and the World Resources Institute to roll out the card under the Priceless Planet Coalition (PPC).

The PPC, launched by Mastercard, is a global initiative uniting businesses, communities and consumers to fight climate change by adding 100 million trees by 2025, guided by experts from the environmental groups.

Through partnerships with banks, merchants and cities, the coalition funds large forest restorations in high-impact areas, involving consumers through donation campaigns at point of sale, loyalty programmes, and paperless initiatives, all while focusing on scientific methods and local community benefits.

Under the programme, one tree will be planted for every new Rak Lok debit card issued, supporting global reforestation efforts and helping to restore ecological balance, according to KTB.

The card also reflects sustainability principles, produced from 97% recycled materials and achieving international sustainability certification under the Card Eco-Certification (CEC) standard.

According to KTB, the card’s production process reduces greenhouse gas emissions by 18% compared with conventional card manufacturing, equivalent to cutting 1.34 tonnes of CO2, or the environmental benefit of planting 79 trees.