Krung Thai Bank

In terms of senior leadership accountability, the responsibility for sustainability issues within Krung Thai Bank lies with the board of directors.

No leading practices were identified for the financial institution in the respecting planetary boundaries measurement area.

Krung Thai Bank has a publicly available policy statement committing it to respect human rights. The financial institution discloses the proportion of women in its total direct operations workforce for each employee category. It also discloses the proportion of its workforce covered by collective bargaining agreements. In terms transparency on financial inclusivity, the financial institution discloses the amount of finance it directs towards small- and medium-sized enterprises (SMEs). Krung Thai Bank has a policy prohibiting bribery and corruption and takes steps to identify and address bribery and corruption.

There is no evidence that Krung Thai Bank links the remuneration of its executive or management teams to sustainability performance criteria. In terms of female representation in leadership positions, women are underrepresented; 16.7% of board members are women and out of the 92 top level executives 33 are women. The financial institution has an opportunity to reach at least 40% female representation in senior leadership positions and on the board. It could also disclose the ratio of basic salary and remuneration of women to men in its total direct operations workforce for each employee category and the actions taken to address any pay gaps. Regarding engagement, Krung Thai Bank has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.

There is no evidence that Krung Thai Bank discloses a target to reach net-zero financed emissions by 2050. Furthermore, no evidence of an approach to fossil fuels, which covers the entire fossil fuel value chain and all of the financial institution’s financing activities, was found in the public domain. This could include the amount or share of finance directed towards fossil fuels, or the financial institutions stance on financing companies with new fossil fuel projects. The financial institution has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on alignment with the Paris Agreement. It could also disclose its financing activities devoted to climate solutions. Regarding nature and biodiversity, Krung Thai Bank has an opportunity to commit to minimising its negative impacts.

While Krung Thai Bank provides a grievance mechanism for workers and external stakeholders to raise human rights, as well as bribery and corruption, concerns or complaints, it should specify that the complainant has the choice to identify themselves or remain anonymous. The financial institution has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. To provide transparency on financial inclusivity, there is an opportunity for Krung Thai Bank to disclose the amount of finance directed towards usually excluded groups or low-income developing countries.