1 March 2024: Siam Commercial Bank (SCB) is advancing sustainability in Thai society, starting with its internal operations while simultaneously offering sustainability to its customers and partners. Aligned with the Net Zero mission for its internal operations by 2030, the bank announces its readiness to switch to 100% recycled plastic or rPET bottles for corporate activities, amounting to over 1.3 million bottles annually. This makes it the first bank in Thailand to use bottles made from recycled plastic resins, which are certified for quality, safety, and cleanliness by the Food and Drug Administration (FDA) of Thailand, the U.S. FDA, and have passed the European Food Safety Authority (EFSA) safety checks. In collaboration with PTT Global Chemical Public Company Limited (GC), a leader in the chemicals business committed to sustainable practices, the bank supports the efficient use of resources and plans to extend its collaboration with GC by collecting used plastic bottles for recycling into new packaging bottles. This initiative aims to rejuvenate used plastic waste, creating value in line with the circular economy principles and fostering an environmentally friendly and holistic future.

The first bank to use recycled plastic bottles: “Siam Commercial Generous rPET Water bottles.”
"Minimize Consumption, Join the Movement for a Sustainable Future”.

Siam Commercial Bank acknowledges its pivotal role in fostering a sustainable society, aiming for Net Zero in its internal operations by 2030 and through its lending and investment practices by 2050. Despite financial institutions being low-carbon businesses, the bank places high importance on integrating environmentally friendly practices. This year, it has started to reduce plastic use within the organization by switching to 100% recycled plastic bottles for various bank activities, amounting to more than 1.3 million bottles annually, becoming the first bank to initiate such an eco-friendly move.

Driven by concern for its customers and consumers' cleanliness and safety, the bank has opted to use rPET (Recycled Polyethylene Terephthalate) water bottles. These plastic bottles are produced from recycled plastics using modern European standard recycling technology by the high-quality plastic recycling plant ENVICCO, part of the GC Group. This facility is certified for quality, cleanliness, and safety by Thailand's Food and Drug Administration (FDA) and meets U.S. FDA standards. rPET packaging is environmentally friendly, reducing the issue of plastic waste and preventing it from ending up in landfills. It recycles used plastics in Thailand back into resources for manufacturing new water bottles, reducing the use of natural resources such as crude oil and natural gas, decreasing energy consumption, and reducing greenhouse gas emissions.

The newly designed "Siam Commercial Generous rPET Water bottles” have been crafted under the concept of "Sustainable Bloom," symbolizing sustainability flourishing into the future. They are presented in 17 different colored floral patterns, representing the 17 Sustainable Development Goals. They also signify the bank's intention to deliver sustainability to society and care for our planet's environment. Using rPET bottles can reduce the amount of landfill waste and marine debris, decrease environmental pollution, conserve natural resources, and tangibly promote a circular economy. The "Siam Commercial Generous rPET Water bottles,” with a capacity of 320 milliliters totaling 1.3 million bottles, represent an endless cycle of recycling plastic into new packaging.Although the number might seem small compared to other industries' water bottles, reducing the use of 1.3 million new plastic bottles is equivalent to the carbon dioxide absorption of 2,200 trees in one year and results in 60% less greenhouse gas emissions compared to producing bottles from new plastic resin.

Under the plan to achieve Net Zero through internal operations of Siam Commercial Bank by 2030, switching to 1.3 million rPET water bottles per year from 2024 to 2030 results in approximately 8 million rPET bottles. This is equivalent to absorbing carbon dioxide from 13,500 trees, which can mitigate the impacts of global temperature change over the long term.

Cultivating Environmental Awareness Among Siam Commercial Bank Employees to Reduce Plastic Use and Environmental Impact

In addition to switching to "Siam Commercial Generous rPET Water bottles, the bank has also initiated a program to instill a consciousness among its employees to reduce the use of plastic bottles in their daily lives. This is achieved by promoting durable and reusable water containers or personal packaging to maximize resource utilization, minimize plastic waste issues, and lessen environmental impact. Furthermore, the bank plans to enhance its recycling efforts by collaborating with GC YOUTURN, a platform for managing used plastics, to increase the recycling rate and repurpose plastic bottles to the greatest extent possible, following circular economy principles. This initiative aims to reduce environmental impact tangibly and greenhouse gas emissions, paving the way towards the Net Zero goal of both organizations and contributing to a sustainable world.

To explore the story of "Siam Commercial Generous rPET Water Bottle," visit
https://www.scb.co.th/th/personal-banking/stories/success-story/rpetwaterboottle.html.