UOB Thailand green financing drives market expansion for EV manufacturer

Collaborative partnership demonstrates UOB's leadership in sustainable trade finance solutions.

The public is now increasingly concerned about the environmental and social impact of how they live, work and play. They are also now paying attention to the impact of their investments, in addition to achieving financial returns.

Moreover, investors are holding companies accountable for contributing to sustainable development, including mitigating negative environmental effects, and ensuring social well-being.

This is what UOB Thailand, Asia’s leading bank, has observed in the past years and is where they direct a huge amount of their focus. In this regard, it has publicly indicated its commitment and targets.

It has based its net zero targets on regional pathways. Whilst being guided by the science in setting targets and aligning with global net zero models, the Bank has stayed pragmatic and where possible, extracted regional pathways that represent the fair contributions of its key markets.

“Our sustainability journey aligns with a clear roadmap and robust targets, and we take pride in engaging our stakeholders, measuring our progress, and refining our approach to building a more sustainable world for ourselves and future generations,” said Mr Tan Choon Hin, President and Chief Executive Officer at UOB Thailand.

Under this approach, UOB Thailand has developed a comprehensive suite of sustainable finance frameworks for its wholesale banking clients. These frameworks, which have been assured by trusted second-party opinion providers, are designed to support clients on their sustainability journey. Such strategy was utilised in its partnership with electric vehicle (EV) manufacturer REVER Automotive Company Limited, run by the third generation of Siam Motor Group.