Krit Chantanotoke, Chief Executive Officer of Siam Commercial Bank, spoke about "Driving Environmentally Friendly Hotel Clients," held in Phuket province on 4 Jul. SCB is aware of climate change and global warming impacts on the economy and people’s lives. Over the past three years, the bank has committed to sustainability, aiming for net-zero carbon emissions by 2030 and supporting all loan portfolio clients to become green businesses by 2050. From a target of 150 billion baht in green loans over three years, as of the end of June, SCB has exceeded this with 180 billion baht disbursed in only two and a half years, intending to increase green loan expansion further.
"SCB's sustainability goals are more than policies; they are part of our DNA and organizational beliefs. We value sustainability not only environmentally but holistically, encompassing a happy and successful life and way of living."
.Helping entrepreneurs "button the first button"
Krit added that SCB supports various organizations by providing sustainable financing to customers, businesses, personnel, and government agencies aligned with sustainability goals. Whatever the loan type, SCB shares knowledge and offers entrepreneurs opportunities to adopt sustainable practices. The bank continuously emphasizes tourism business because it remains a key engine to sustain hope for Thailand's economy.
Sustainable tourism is growing globally and becoming a mainstream approach for travelers worldwide. Thai hotels adapting sustainable models will not only attract environmentally conscious and higher-spending tourists but also stabilize hotel revenues by shifting focus from quantity to quality.
Helping clients plan for sustainability acts as the crucial "first button" to correctly move toward sustainability. SCB assesses clients’ readiness levels; if entrepreneurs are uncertain or have not yet started, the bank offers ideas and pathways without requiring them to be clients or take loans. SCB advises on the initial steps to take, and once positive results or cost savings appear, further discussions can follow.
"I believe it is a myth that everyone needs to help dispel—that sustainability means spending more money. Rather, it means maximizing the use of existing resources. Moving toward sustainability is not a cost but increased future revenue."
.Elevating Phuket as a sustainable tourism landmark
Entrepreneurs in Phuket are highly engaged in sustainability, as the province is a pilot aiming to become a sustainable tourism hub by 2027 and is preparing to host the Global Sustainable Tourism Conference next year. Hotels in Phuket are accelerating environmental transitions to meet international sustainability standards. SCB has issued substantial green loans in Phuket.
"During our recent visit to Phuket, we met long-term business partners Kata Group and Yi Teng Hospitality—two leading hotel groups collaborating with SCB to transition their businesses to sustainable hotels. This reduces costs in water, electricity, food waste, and environmental impact, amounting to millions per month. For example, Beyond Kata hotel saves 1.1 million baht monthly, while Four Points by Sheraton Phuket Patong Beach Resort from Yi Teng has cut energy costs by 2.1 million baht over six months, despite not yet fully implementing all measures. Being green hotels also attracts more environmentally conscious tourists, serving as role models inspiring other hotels towards sustainability. Both hotel management teams are willing to share knowledge with other entrepreneurs."
"We have teams providing consultation, strategy planning, and proposing loans to support adaptation, improve energy efficiency, manage water, and develop renewable energy. Loan amounts depend on entrepreneurs’ needs. Some need capital to make their overall structures greener, such as installing solar panels or internal management changes to enhance efficiency. We are ready to offer green loans with special interest rates. For large hotels seeking gradual transition from Brown to Less Brown, we have tailored product programs, as well as programs for customers ready to meet international sustainability goals."
.Building green SMEs and sharing sustainability concepts
Krit acknowledged that currently green loans are concentrated among medium-large and large clients. SCB is considering how to engage mid-to-lower level businesses in sustainability, emphasizing that sustainability does not mean increased costs but rather cost-saving for long-term viability. SCB plays a role here and believes there is room to further bridge gaps through gradual efforts.
For SMEs, SCB offers sustainability courses to help business clients adjust towards sustainability, with programs designed to inform SME entrepreneurs how to transform into green businesses. Another area to improve, aligned with the Digital Bank with Human Touch mission, is promoting good financial planning so that all Thais can achieve long-term well-being.
"We can promote sustainability concepts in various ways, such as fostering financial discipline. For example, instead of buying new clothes daily following Instagram trends, we teach young people to mix and match and use items longer, reuse, and recycle. This is a form of saving money and environmental care. Therefore, I think financial discipline aligns with instilling the concept of sustainability in the younger generation."