GSB Joins Forces with Businesses to Create Shared Value for Sustainability,
Unlocking New Opportunities with Positive Engagement Program
On the SX TALK STAGE at SUSTAINABILITY EXPO (SX2025), ASEAN's largest sustainability exposition, a compelling session was held titled, "POSITIVE ENGAGEMENT PROGRAM: All Participation Creates Shared Value for Sustainability." The discussion aimed to reveal the Government Savings Bank's (GSB) key strategy for driving its Net Zero and ESG goals by fostering positive engagement with the business sector.
GSB recognizes that its 2050 Net Zero target cannot be achieved by the organization alone, as the vast majority of the bank's greenhouse gas emissions (as high as 97-98%) originate from its lending and investments (Scope 3). Consequently, the Positive Engagement Program (PEP) was established as "an exchange of learning to achieve sustainability goals together" with its client base.
The session was honored by three distinguished speakers:
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Ms. Jiraphat Na-eiam, Director of Large Corporate Business Department 2, Government Savings Bank (GSB)
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Ms. Naowarat Rithiprasithichai, Director of Sustainability Development Department, Government Savings Bank (GSB)
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Dr. Wannipa Yadum, Director, Siam Techno Industry Co., Ltd.
The Net Zero Mission: Why Must Clients Participate?
Ms. Naowarat Rithiprasithichai reiterated the definition of the Positive Engagement Program as "an exchange of learning to achieve sustainability goals together." She revealed that GSB has set a 2050 Net Zero target. However, a greenhouse gas inventory assessment found that the majority of the bank's emissions (97-98%) stem from its lending and investments (Scope 3), while direct emissions from the bank's own energy use account for only 2-3%.
This is why the bank cannot achieve its sustainability goals alone if clients do not participate in the transition and help reduce emissions simultaneously. "No matter how hard we try, we can only reduce that 2-3%. If our customers are not on board... the bank can never succeed in this."
GSB: More Than a Financial Institution
Ms. Jiraphat Na-eiam, who works most closely with clients, pointed out that all businesses are showing an increased commitment to aligning with ESG policies. This is especially true for businesses with foreign partners, such as those in Europe, America, or Japan, which are beginning to require strict ESG Compliance from their trading partners.
Clients who implement a clear ESG strategy gain significant advantages:
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Access to Funding: Clients can access Green Finance, such as Green Bonds or Sustainability-Linked Loans, which often have lower costs than standard market rates.
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Competitiveness: It enhances their competitiveness and reduces regulatory risks.
GSB has therefore adapted its role in engaging clients. For large corporations with high readiness, the focus is on being a Strategic Partner, aligning the client's goals with the bank's. Conversely, engaging SMEs just starting out focuses first on building awareness and providing education through programs like "SME Gear Up," helping them see ESG not as a distant issue or a mere cost, but as "a business opportunity that allows you to grow sustainably into the future."
GSB also applies an ESG Score (out of 10) to its large clients. Those scoring 8 or higher may be considered for interest rate reductions, "because we are a 'Bank for Society'."
From Skepticism to Champion: Experience from an SME Prototype
Dr. Wannipa Yadum, Director of Siam Techno Industry Co., Ltd., a medium-sized company (approx. 400-500 million THB in revenue), shared her experience joining GSB's program, "SME Gear Up: Adding Wings to Business with ESG."
Dr. Wannipa recounted that, initially, her company was not seriously familiar with ESG. They applied for the program simply to learn what ESG was and how difficult it might be.
"Once we joined, we learned so many things... what ESG truly is. It is not something distant. It is not something that only concerns public companies or large corporations," Dr. Wannipa said.
Her findings included:
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E (Environment): Viewing environmental action as "cost reduction," such as switching to alternative energy (solar cells) or choosing suppliers from nearby communities to reduce transport carbon.
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S (Social): Caring for local employees and creating policies that support their lives (e.g., allowing leave to care for children or elderly relatives) resulted in low employee turnover and high retention.
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G (Governance): Adhering to regulations and transparency led to community acceptance and sustainable co-existence.
This clear, community-aligned mindset led Siam Techno Industry Co., Ltd. to win the Social Category in the SME Gear Up Challenge. Dr. Wannipa affirmed that ESG is not just about doing things; it requires data collection and comparison to measure whether real improvement is being made.
All speakers stressed the importance of starting ESG today. Failing to start may mean falling behind competitors or facing penalties from upcoming regulations.
Ms. Naowarat invited businesses of all sizes to walk the path of sustainability together, noting that in addition to increasing business competitiveness, society and the environment also benefit—constituting true "shared value."
Ms. Jiraphat reaffirmed that GSB is ready to be both an Advisor and Connector, providing knowledge and linking businesses with necessary partners. "Just come to us. Contact GSB. We are truly ready to help every organization, of every size." Interested SMEs can seek consultation directly from their RM or any GSB branch, she stressed, "There is no charge whatsoever, because we are a bank for society."
The SME Gear Up training program will be held again early next year, serving as a key opportunity for SMEs to turn fear into opportunity, because proper ESG implementation can help businesses reduce costs and grow sustainably.
