SCB X Public Company Limited (SCBX) has become Thailand’s first financial institution to have its near-term greenhouse gas (GHG) reduction targets validated by the Science Based Targets initiative (SBTi).
SCBX aims to slash Scope 1 and 2 GHG emissions by 90% by 2030, using 2023 as the base year. For Scope 3 emissions, which comprise 99% of the bank’s total footprint, SCBX will target 20% of its portfolio, covering 80% of applicable asset classes, using SBTi’s Sectoral Decarbonisation Approach and Temperature Rating methodology.
Sathian Leowarin, SCBX’s Chief Sustainability Officer, said, “As a financial technology business group, we have a responsibility to lead in reducing greenhouse gas (GHG) emissions—not only within our own operations but also by supporting our customers on their decarbonisation journeys. This is why we have made the progressive and ambitious decision to set near-term climate targets in line with a globally recognised standard setter, the SBTi.”
