UOB Thailand triumphs with dual awards at ESGBusiness Awards for Governance and Green Initiatives
The company’s unwavering commitment to good governance and sustainability sets a standard for financial institutions in Asia.
UOB Thailand recently achieved a remarkable double victory at the ESGBusiness Awards, underscoring its commitment to exemplary governance and sustainable practices. The bank was recognised for its governance framework, which sets a high standard for financial institutions in Asia, and for its green building, UOB Plaza Bangkok, a beacon of sustainable development.
At the forefront of UOB's strategy is a holistic approach to sustainability. This encompasses rigorous risk management, strict compliance with regulatory standards, and a steadfast dedication to its customers and shareholders. The bank's governance structure is designed for effective sustainability oversight, extending from operational levels through the Corporate Sustainability Office (CSO) to management and board levels.
Central to UOB's philosophy is the understanding that good governance and sustainability are inextricably linked. Its sustainability strategy rests on four pillars: Drive growth sustainably, Keep customers at the centre, Develop professionals of principle, and Uphold corporate responsibility. In this vein, UOB actively collaborates with financial regulators and associations to shape and refine the sustainable financial landscape.
The bank's commitment extends beyond mandatory requirements for foreign banks. UOB voluntarily aligns with national policies and standards, working closely with bodies like the Association of International Bank (Thailand), the Thai Bankers’ Association, and the Bank of Thailand.
UOB's sustainable financing frameworks are internationally recognised for their credibility and impact. They cover a broad spectrum, including green building, smart city initiatives, circular economy, and green and sustainable trade finance.
The Good Governance Award - Thailand category win celebrated UOB's governance approach. Additionally, the bank received the Green Building Award - Thailand for UOB Plaza Bangkok. This commercial building, comprising two blocks and six basement carparks, is not just an office space but a model of green architecture. Features like tinted laminated glass, a high-efficiency water-cooled chiller plant, smart parking, and EV charging points exemplify its commitment to sustainable design.
UOB Plaza Bangkok stands as a testament to green building standards, utilising technology for maximum energy and resource efficiency. Its design not only meets certified green building standards but also brings an aesthetic dimension to its sustainability efforts.
The ESGBusiness Awards, by honouring organisations like UOB, highlight the importance of environmental, social, and governance practices in shaping a sustainable future. UOB Thailand's recent achievements reflect its role as a leader in integrating these practices into the core of its business operations.
The ESGBusiness Awards is presented by ESGBusiness. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's outstanding commitment and achievement in environmental, social, and governance (ESG) practices, please contact Julie Anne Nuñez at [email protected].
