UOB FinLab Thailand announces its Sustainability Innovation Programme 2024

UOB Thailand on April 4, 2024, announced its Sustainability Innovation Programme (SIP) 2024. SIP aims to support Thai small and medium-sized enterprises (SMEs) across all sectors to incorporate sustainability into their businesses by leveraging UOB FinLab’s extensive network of public and private leaders, mentors, and SMEs.

The three-module programme, organised in collaboration with industry leaders including Thailand Development Research Institute (TDRI), PwC Thailand, Thailand Greenhouse Gas Management Organization (TGO), Chulalongkorn University and Sustainism will be held on 29-30 May 2024 in Bangkok, Thailand. It will consist of workshops and masterclasses tailored for over 200 selected Thai businesses, equipping them with the latest knowledge on sustainability regulations, measurement tools, Environment, Social and Governance (ESG) metrics, best practices and actionable steps to kickstart their green journey.

According to the UOB Business Outlook Study 2024, incorporating ESG practices in Thailand is among the top five business priorities in the next one to three years. However, approximately three in ten businesses have stated that greater support is required when meeting industry peers and guidance in applying ESG standards and decarbonisation best practices.

Mr Banlang Wongthawatchai, Head of Digital Engagement and FinTech Innovation, UOB Thailand, said, “Climate concerns are reshaping business strategies and operations towards sustainability across the globe. Based on UOB Business Outlook study, Thai businesses commonly see sustainability adoption as an important factor for improving reputation (56 per cent), attracting investors (50 per cent) and increasing opportunities to work with large corporations (42 per cent).

“SMEs are becoming increasingly aware of the need to transit into green business for long-term sustainable growth. Our programme brings together government and private partners to help Thai SMEs across all sectors to kickstart their green practices with their domain know-hows. In addition, SMEs will be able to assess their sustainability readiness through our industry-first sustainability tool, which also recommends specific action plans for businesses to adopt.”

In addition to SIP, there is UOB FinLab’s six-month GreenTech Accelerator (GTA) 2024 programme. GTA helps solution providers tackle real-world pain points of SMEs in ASEAN by co-creating solutions for partnerships and pilot projects, helping them kickstart their green journey. To further cement UOB FinLab’s commitment to driving innovative solutions to address sustainability goals, GTA 2024 will offer up to SGD100,000 for greentechs to pilot innovative, relevant, and deployable solutions with businesses. SIP is open to all Thai SME business owners or decision-makers from all sectors who are enthusiastic about adopting sustainability practices.