Strategy
At UOB Thailand, our sustainability approach is underpinned by our corporate purpose and mirrors our business approach of balancing growth with responsibility
Guiding Principles
UOB Thailand’s approach to sustainability is guided by five principles that act as a compass for how we address the material risks and opportunities which may impact our customers, colleagues, investors, suppliers and the communities. We have a duty to contribute to the Thailand’s long-term economic, social and environmental well-being. We also recognise that good corporate governance is essential for embedding sustainable business practices. This long-term, responsible approach is central to our business strategy and activities.
Engage our customers proactively to influence their sustainability practices for greater long-term resilience
Implement sustainability programmes to manage ESG risks and opportunities sensibly, in line with market and competitive realities
Align our sustainability approach with ESG policies and guidelines of governments in our key markets
Sustainability Strategy
Our strategy takes into account the influence and impact our decisions and actions may have on our stakeholders and the environment. It also ensures that we remain economically relevant through managing environmental, social and governance (ESG) risks and opportunities practically and in line with market realities. As we focus on creating sustainable value for our stakeholders, we align our long-term business strategies with their interests. We believe in sustainable development that meets the needs of the present without compromising the ability of future generations to meet their own needs. This entails respect for the environment, human rights, labour rights, decent work and economic growth, data privacy and business ethics. To ensure that our programmes and initiatives take root and grow, we comply with the ESG-related laws and regulations.
The Four Pillars of Our Sustainability Strategy
Drive Growth Sustainably
- Contribute economically to the progress of our communities
- Embed environmental, social and governance risk in our approach to risk management
- Integrate social and environmental considerations into our credit evaluation and approval processes
- Adopt and promote climate resilient practices to support our customers in their transition to a lower-carbon economy
- Develop and provide sustainable financing and sustainable investment solutions
Keep Customers at the Centre
- Protect customer data and privacy through secure and robust systems and practices
- Ensure Fair Dealing
- Create intuitive and impactful customer experiences
- Make banking simpler, smarter and safer through ethical use of technology and data
- Make banking more accessible and inclusive
- Support businesses across all stages of growth
Develop Professionals of Principle
- Develop high-performing teams and future-focused individuals
- Promote work-life harmony
- Encourage volunteerism and advocacy for social and environmental causes
- Ensure employee engagement and satisfaction
- Ensure workplace health, safety and well-being
- Embrace diverse abilities and Strengths
Uphold Corporate Responsibility
- Maintain highest standards of governance and risk culture
- Ensure regulatory compliance
- Protect the financial system against abuse
- Incorporate sustainability principles into our procurement practices
- Manage direct environmental impact and encourage environmental stewardship
United Nations Sustainable Development Goals
and Global Compact
The UN SDGs, or Global Goals, set the global agenda for sustainable development by 2030 and call for action by both the public and private sectors. UOB’s strategy and reporting are aligned with the 17 UN SDGs. We recognise that while UOB is better placed to contribute directly to a sub-set of the Global Goals, the broadening scope of our sustainable financing, responsible investing and impact investment activities and their corresponding positive impact enable us to align with all the Global Goals.
UOB became a participant of the United Nations Global Compact in 2021. As a Participant-level signatory, we support the Ten Principles of the Global Compact in the areas of human rights, labour, environment and anti-corruption. We are committed to integrating these principles into our culture, business strategy and daily operations.
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