Krungsri declares Carbon Neutrality Vision committing to decarbonize its own operations by 2030, aligning with Thailand's COP26 pledge of carbon neutrality by 2050

• Decarbonization of own emissions by 2030
• Decarbonization of financial services by 2050
• Phasing out exposure to coal-fired power plants within this decade, while boosting social and sustainable financing to 50-100 billion baht by 2030

Krungsri (Bank of Ayudhya PCL) committed to decarbonize its own operations by 2030 and its financial services by 2050, outlining carbon-neutral pathways based on its Carbon Neutrality Vision.

In a determined move taken in alignment with Thailand's ambitious nationally determined contributions (NDCs) pledge at COP26 in Glasgow to cut emissions moving toward carbon neutrality by 2050, Krungsri accelerates its ongoing decarbonization efforts by translating bold climate goals into actionable plans with key milestones in achieving the carbon neutrality banking goal, while dynamically promoting social and sustainable financing facilities.

Mr. Seiichiro Akita, Krungsri President and Chief Executive Officer, said "Krungsri is firmly committed to combating climate change, one of the most urgent and acute issues facing our global community, and will therefore accelerate our strategic emission reduction initiatives in supporting customers' sustainable transformation toward low-carbon investments and operations, together with providing comprehensive renewable energy financial solutions. Concurrently, through our own efforts, we will fast-track our decarbonization pathways through optimizing use of resources, internalizing process digitalization, procuring renewable energy, as well as inaugurating a carbon offset mechanism."

Aspiring to achieve a carbon neutral future, Krungsri commits to:

Decarbonizing the Bank's own operations by 2030

Decarbonizing the Bank's financial services by 2050

Phasing out its exposure to coal-fired power plants within this decade. Enhancing the financial disclosure policies, the Bank plans to further disclose our portfolio's financial emissions as well as reduction targets.

Increasing social and sustainable finance portfolio to 50-100 billion baht by 2030

Continuing to actively promote sustainable and green finance market development in Thailand

With the spirit and responsibility of Thailand's Domestic Systemically Important Bank (D-SIB) and a strategic member of Mitsubishi UFJ Financial Group Inc. (MUFG), one of the largest global financial groups, the Carbon Neutrality Vision of Krungsri is issued in conformity with and support of MUFG's ambitious global decarbonization initiatives announced through its Carbon Neutrality Declaration earlier this year.