Krungthai Bank Partners with Dohome to Pioneer Linking Trade Finance and FX Hedging to Sustainability Goals

Tawatchai Cheevanon, Chief Product and Business Solutions Officer at Krungthai Bank, said that Krungthai Bank, as a leading commercial bank in Thailand, is committed to developing financial innovations under the concept of "Reshaping Client Value Proposition and Promoting Sustainability with Innovation" to cater to all customer groups, thereby enhancing the competitiveness of Thai businesses in the global market while promoting business operations that balance environmental, social, and governance (ESG) aspects. Recently, the bank has collaborated with Dohome Public Company Limited to initiate the "ESG-Linked Trade Finance and FX Hedging Program." This program links trade finance transactions and foreign exchange hedging with ESG performance, and by doing so, it supports and raises awareness of sustainable business practices. This marks another success in building upon trade finance services with global standards and empowering Thai businesses to thrive in the global trade arena.

Rawin Boonyanusasna, Head of Global Markets Group at Krungthai Bank, added that the bank recognizes the importance of sustainable business practices and considers all groups of stakeholders. This collaboration with Dohome marks the first time that trade finance and foreign exchange hedging have been linked to the customer's ESG performances, such as increasing solar power generation to offset greenhouse gas emissions. If the targets are met, Dohome will receive benefits for trade finance and FX hedging. This collaboration underscores the bank's commitment to developing financial services that align with customers' sustainable development approaches, thereby supporting the bank's goal of becoming a sustainable bank.

Saliltip Ruangsuttipap, Deputy Managing Director - Accounting, Finance and Organization Support at Dohome Public Company Limited, stated that the company is constantly developing its sustainability strategy, particularly in promoting clean energy through the installation of solar rooftop systems across its branches nationwide. This is a key strategy for Dohome, reflecting its commitment to sustainable business practices and creating long-term value for all stakeholders. The ESG-Linked Trade Finance and FX Hedging Program marks an important starting point for the company in linking financial transactions with environmental goals to create a comprehensively sustainable business, in particular by using clean energy to address global warming and climate change sustainably.

Saliltip also added that the company is delighted with this collaboration, which reaffirms the company's vision and aligns with its goal of truly becoming a business that operates with environmental and social responsibility and good governance. This move accelerates Dohome's ESG development and demonstrates the positive impact that occurs when financial institutions and businesses collaborate to achieve sustainability goals.

This collaboration marks a step towards the ESG missions of both organizations; it both drives Dohome's goals of creating a comprehensively sustainable business according to its policy and reinforces Krungthai's progress towards becoming a sustainable bank. This aligns with the United Nations Sustainable Development Goal (SDG) of driving businesses and the country's economy towards sustainable growth, which is in line with Krungthai's vision of "Growing Together for Sustainability."

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