Sugarcane Industry Goes Green with Krungthai Bank Loan
Key Takeaways
- Krungthai Bank partners with Khon Kaen Sugar to tackle PM2.5 emissions from sugarcane burning.
- Transition loan programme helps acquire efficient harvesting machinery, reducing the need for burning.
- Initiative aligns with Thailand's sustainability goals and UN Sustainable Development Goal 13: Climate Action.
Krungthai Bank and Khon Kaen Sugar Industry Public Company Limited (KKP) have joined forces to combat air pollution caused by sugarcane burning during harvest season.
This innovative partnership aims to achieve carbon neutrality and net zero emissions while promoting sustainable practices within the sugarcane and sugar industry.
Transition Loan Programme for Sustainable Agriculture
Krungthai Bank is providing KKP with a special transition loan designed for the sugarcane and sugar industry. This loan will enable KKP to invest in modern and efficient agricultural machinery, specifically sugarcane harvesters. By reducing reliance on burning traditional harvesting methods, this initiative aims to considerably lower PM2.5 dust levels during harvest season, a major environmental concern in Thailand.
Collaboration for a Sustainable Future
This partnership aligns with Thailand's commitment to environmental sustainability and the Bank of Thailand's policies. It also supports the Ministry of Industry's vision of transitioning industries towards environmentally friendly practices.
Krungthai Bank has designed the loan with sustainability performance targets in mind, further strengthening its commitment to responsible lending practices as outlined in its "Growing Together for Sustainability" vision statement. This approach reinforces Krungthai Bank's position as a leader in sustainable banking and contributes to the United Nations' Sustainable Development Goal 13: Climate Action.
By working together, Krungthai Bank and Khon Kaen Sugar are paving the way for a cleaner and more sustainable future for Thailand's sugarcane and sugar industry.
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Source: Krungthai Bank
