Finance/UOB

Editorial staff

UOB Thailand has announced its subscription to DHL's GoGreen Plus service, marking an extended partnership between the two companies as UOB commits to enhancing supply chain sustainability by reducing Scope 3 non-financed carbon emisisons and advancing its sustainability agenda.

Under the GoGreen Plus service, UOB has entered into a strategic agreement with DHL Express to co-invest in sustainable aviation fuel (SAF) for international shipments via air.

This initiative aims to help UOB Thailand reduce its Scope 3 emissions, particularly those associated with its supply chain and business operations.

Vira-anong Chiranakhorn Phutrakul, deputy CEO and head of wholesale banking, UOB Thailand said: “Our partnership with DHL Express reflects UOB’s commitment to environmental responsibility beyond our direct operations. By addressing our Scope 3 emissions, we are taking a comprehensive approach to sustainability that aligns with our goal of achieving net-zero greenhouse gas emissions by 2050.”

The GoGreen Plus service will be applied to the air transportation of critical and time-sensitive documents, banking materials, and other supplies between Thailand and overseas destinations. This approach enables UOB to minimize the carbon footprint associated with its supply chain and business operations.

Herbert Vongpusanachai, managing director, DHL Express Thailand and head of Indochina, said: “We are proud to support UOB Thailand’s sustainability journey. Our GoGreen Plus service offers a tangible way for companies to reduce their logistics-related greenhouse gas emissions, contributing to their overall environmental goals.”

This initiative is part of UOB’s comprehensive sustainability strateg, which targets emissions reduction across all three scopes of greenhouse gas accounting. Apart from UOB’s Net Zero commitment by 2050 for its financed emissions, UOB Thailand also recognizes the importance of reducing its Scope 3 non-financed emissions, which includes supply chain logistics.

By integrating sustainable practices into its operations and collaborating with partners like DHL Express, UOB Thailand is taking proactive steps towards its 2050 net-zero target. This partnership contributes to the Bank’s environmental objectives and supports Thailand’s transition to a low-carbon economy, aligning with global efforts to combat climate change.

In July 2024, UOB and DHL Express regionally entered a strategic GoGreen Plus agreement to co-invest in SAF for UOB’s international parcel deliveries. Through this program, UOB foresees an estimated annual emissions reduction of approximately 200 tons of carbon-dioxide-equivalent across Asia Pacific.