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UOB Thailand Launches Innovative Green Term Deposit to Boost ESG Initiatives

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UOB Thailand proudly unveils its pioneering Green Term Deposit product, available in Thai Baht, Singapore Dollars, and US Dollars. This innovative offer enables corporate and institutional clients to embark on a journey that directly supports Environmental, Social, and Governance (ESG) initiatives aimed at environmental conservation and sustainable development.

The Green Term Deposit product diversifies deposits towards green loans within UOB’s extensive sustainable finance frameworks. These frameworks encompass a broad spectrum of financing options tailored for assets and activities that comply with stringent ESG criteria, including green real estate, renewable energy, energy efficiency, smart city infrastructure, and the circular economy – all harmonized with the United Nations Sustainable Development Goals (UN SDGs).

By participating in this program, companies not only earn competitive interest rates on their cash deposits but also play an active role in environmental preservation and sustainable growth. UOB complements this engagement with an annual report offering deep insights into the industries and environmental impacts these deposits have facilitated through its sustainable financing projects. The bespoke report covers critical metrics such as greenhouse gas emissions avoided, the equivalent number of tree seedlings planted, and cars removed from the road. This empowers companies to quantify their contributions to sustainable development and integrate these details into their sustainability reports, enhancing transparency and accountability in their ESG efforts.

Ms. Panittra Vejjajiva, Head of Financial Institutions and ESG Solutions at UOB Thailand, enthuses, “Sustainability is a cornerstone of our strategic vision. We’re thrilled to introduce our Thai Baht Green Term Deposit product, allowing businesses to invest meaningfully while securing steady returns. Our sustainable finance frameworks adhere to top-tier global sustainability standards, enabling confident investments.”

Among the early adopters of UOB’s Green Term Deposits in Thailand are Arçelik Hitachi Home Appliances (Thailand) Ltd. (Arçelik) and MFC Asset Management Pcl. (MFCAM).

Mr. Umut Özsöz, Finance and Accounting Executive Director of Arçelik Hitachi Homes Appliances Group and Arçelik Hitachi Homes Appliances Thailand, shares his enthusiasm, “Arçelik Hitachi Home Appliances is dedicated to operating in alignment with global ESG principles. Committed to achieving net zero by 2050, we’ve implemented various green initiatives to minimize carbon emissions while optimizing environmental management across our business. UOB’s Green Term Deposit amplifies our sustainability efforts and environmental stewardship.”

Echoing this sentiment, Mr. Thanachote Rungsitivat, President of MFC Asset Management, comments, “MFCAM values the importance of the sustainability agenda and its transformative impact on the business landscape. As investors, we play a crucial role in bolstering the ESG market. UOB’s Sustainable Financing Frameworks, aligned with esteemed ESG principles and independently validated, enable MFCAM to promote sustainable growth and development through Green Term deposits. We are confident that our term deposit placements will be directed toward green assets resonating with the UN Sustainable Development Goals (SDGs).”

For more information about UOB’s Sustainable Financing Frameworks, please visit the UOB website.


  1. EcoWarrior2023 June 24, 2024

    This is exactly what we need. More banks should follow UOB’s lead in promoting sustainable finance. Kudos to them!

    • SkepticalSam June 24, 2024

      I’m not so sure. Banks have a history of greenwashing. How do we know this isn’t just another PR stunt?

      • EcoWarrior2023 June 24, 2024

        They’ve provided detailed annual reports and aligned with the UN SDGs. That seems pretty genuine to me.

      • LogicalLisa June 24, 2024

        Skepticism is healthy, but let’s give them a chance. Accountability measures appear robust.

    • GreenFinanceExpert June 24, 2024

      Banks like UOB are under immense pressure to genuinely support sustainability. This move is likely more than just a PR stunt.

  2. ConcernedParent47 June 24, 2024

    What is this world coming to? Now we’re trusting banks to save the planet? Laughable.

    • YoungActivist June 24, 2024

      Maybe it’s time banks stepped up. Every sector must contribute to fighting climate change.

    • Ben_G June 24, 2024

      True, but banks have the funds and influence to make a real difference. Better they invest in green initiatives than fossil fuels.

  3. TechSavvy June 24, 2024

    I’m curious about the technology behind tracking these ESG efforts. How reliable are these measurements?

  4. Sue B. June 24, 2024

    I love this initiative! It’s about time corporations are held accountable for their environmental impact.

    • PragmaticPete June 24, 2024

      Accountability is key. But how transparent are they really being? We need third-party audits.

    • Sue B. June 24, 2024

      That’s a fair point. Third-party audits would definitely increase credibility.

  5. GreenThumb June 24, 2024

    More companies should jump on this bandwagon. The environment can’t wait any longer.

    • RealistRandy June 24, 2024

      It’s easy to say that, but transitioning to green practices can be costly and complex for many businesses.

    • GreenThumb June 24, 2024

      True, but the long-term benefits far outweigh the short-term costs. It’s an investment in the future.

    • FutureThinker June 24, 2024

      Agreed. Companies that don’t adapt will be left behind as consumer and regulatory pressures increase.

  6. Dana June 24, 2024

    This seems like a step in the right direction, but I’m curious about how competitive these interest rates are compared to traditional deposits.

  7. FinanceGuru_101 June 24, 2024

    The alignment with UN SDGs gives this product a lot of credibility. It might encourage more international businesses to consider UOB for their deposits.

  8. Samantha Lee June 24, 2024

    It’s good to see tangible metrics like cars removed from roads. This helps visualize the impact.

    • Tommy June 24, 2024

      Absolutely! It makes the effort more relatable for the average person.

    • AnalyticalAndy June 24, 2024

      But those metrics can be manipulated. We need to ensure they’re accurate and not exaggerated.

  9. Penny123 June 24, 2024

    This could be a game-changer if other banks follow suit. Real momentum could build around sustainable finance.

  10. JohnD June 24, 2024

    What’s the catch here? Banks don’t usually offer something for nothing. Is the interest rate that attractive?

    • LeslieK June 24, 2024

      I think the appeal is more in the positive PR for the companies involved and their commitment to ESG, rather than just the interest rate.

    • JohnD June 24, 2024

      Maybe, but many businesses will still look at the bottom line first.

    • EcoInvestor June 24, 2024

      Companies that integrate ESG into their core strategy often see long-term financial benefits, even if the short-term gains are modest.

  11. FinanciallyGreen June 24, 2024

    Finally, a bank is making moves for the greater good. We need more leaders like UOB in the financial world.

    • SkepticalSam June 24, 2024

      But it’s still a bank at the end of the day. Profit is always the primary goal.

    • FinanciallyGreen June 24, 2024

      Sure, but businesses can profit while also doing good. The two aren’t mutually exclusive.

  12. Bianca M. June 24, 2024

    It’s refreshing to see such big corporations taking sustainability seriously and embedding it into their financial products.

  13. Mike June 24, 2024

    I wonder how many other banks will adopt similar products, or if this will remain a niche offering.

  14. SustainableStew June 24, 2024

    The bespoke reports are a great idea. It offers transparency and allows businesses to showcase their sustainability efforts.

  15. EcoEngineer June 24, 2024

    If these funds truly support projects like smart city infrastructure and renewable energy, it could have a significant impact.

  16. Jay123 June 24, 2024

    UOB’s Green Term Deposit sounds good in theory, but will small businesses be able to participate, or is this just for big players?

    • GreenFinanceExpert June 24, 2024

      From what it sounds like, this product is tailored more for corporate and institutional clients. However, it could create a trickle-down effect.

    • Jay123 June 24, 2024

      That would be great. Small businesses need to feel included in the green revolution too.

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