Siam Commercial Bank is actively driving the Thai business sector towards sustainability in line with the Bank of Thailand's policies. At the event "Financing the Transition: Financing for Business Adaptation to Sustainability," the bank announced its readiness to assist hotel and service business clients under a loan portfolio exceeding 134 billion baht in transitioning to environmentally friendly hotels (Green Hotels), in response to future tourism trends. The bank aims to provide sustainable financing projects and enhance efficiency, targeting to help hotel clients of all levels in its portfolio move towards green business practices, positioning Thailand as a top sustainable tourism destination globally.

Mr. Krit Chanthanautok, Chief Executive Officer of Siam Commercial Bank, stated that the bank is ready to be part of the transition towards sustainability for its business clients by providing funding support for sustainable transformation in Thailand. At the "Financing the Transition" event, the bank showcased its vision for driving sustainability, focusing on the tourism and service sectors, which are key engines of the Thai economy. Currently, Siam Commercial Bank is the leading supporter of the hotel industry in Thailand, with a total outstanding loan portfolio of over 134 billion baht, and has planned operations to assist its clients in this sector to transform into Green Hotels throughout the entire process, elevating them to sustainable organizations.

The Thai economy is still recovering vulnerably, with the tourism sector being the continuous growth driver for the country. It remains a significant force in the Thai economy, contributing over 18% of GDP and employing more than 20% of the workforce. A current challenge for the tourism sector is to develop sustainable tourism effectively. Future tourism trends indicate that travelers will seek socially creative and environmentally friendly options. However, hotels are significant greenhouse gas emitters due to various activities, which impact global warming. Therefore, this business must urgently adapt. The bank will support investments in activities related to energy conservation or those that are environmentally and socially friendly, as well as invest in technologies to enhance efficiency and manage costs, which will help reduce energy consumption and carbon emissions.

Siam Commercial Bank plans to guide hotel operators towards environmentally friendly hotels (Green Hotels) through three key approaches:

  1. Providing sustainable financing support to hotel clients of all levels through sustainable financing and efficiency enhancement projects, offering special interest rates for Mid-Corp and SME clients, for both new and existing projects, supporting both certification and sustainability activities of hotels.
  2. Raising awareness and providing knowledge through training programs, seminars, and learning materials on sustainability.
  3. Collaborating with partners specializing in Green Building and Carbon Measurement to provide advice and solutions to clients.

“The hotel business is crucial to the country's economy and requires a transition to sustainability. Siam Commercial Bank is ready to support from the initial stages to elevating to global hotel standards. We believe that the hotel and service sectors will provide stable and sustainable support to the Thai economy, meeting the comprehensive needs of travelers and promoting Thailand as a global sustainable tourism destination,” Mr. Krit stated.

Siam Commercial Bank has been alongside Thailand for 117 years, continuously operating with tangible sustainability efforts, committed to being a partner alongside clients on the path to sustainability. The bank has set a Net Zero target for 2050 through lending and investment, aiming to support sustainable financing of 150 billion baht by 2023-2025, with serious operations through innovative and financial solutions, while also adjusting internal operations towards sustainability and collaborating with partners to create positive impacts for clients and enhance the quality of life for society at large.

Hotel operators interested can contact their business relationship manager or call the SCB Business Call Center at 02-722-2222. For more information about sustainable financing and efficiency enhancement projects for the hotel sector, visit www.scb.co.th/th/about-us/sustainability/scbsustainability.