APSAA 亞太永續行動獎(Asia-Pacific Sustainability Action Awards )-Sustainability Action Award SDG8:Silver
Krung thai Bank PCL.
Krungthai Loves Koh Tao Project
The Krungthai Loves Koh Tao Project was initiated during the tourism slump caused by the COVID-19 pandemic, aiming to support the island's sustainable development. Prior to the pandemic, Koh Tao was a thriving tourist destination, but lockdown measures led to a collapse in tourism and income for locals. The project was initially aimed at raising funds through crowdfunding and providing employment for taxi boat drivers to collect marine debris, helping both the drivers and the environment. This was the first phase of the project, which was implemented in 2020. The second phase (2021) expanded the project's impact, benefiting taxi boat drivers, youth in the Tao Noi Channel group, local fishermen, and housewives. Support included providing trash bins for independent debris collection, deploying buoys for safer docking, offering video-making training, and assisting with product improvement. The ongoing third phase focuses on establishing community funds for the welfare of taxi boat drivers, local fishermen, and housewives, as well as an environmental fund managed by Koh Tao Municipality.
The project has had impacts on environmental, social, and economic aspects. In addressing the issue of waste, the project has collected over 46 tons of marine debris and organized waste management training and craft workshops for locals, generating income opportunities. It also provided environmentally-friendly incinerators. The project promotes social inclusion by involving diverse groups on the island and mediating conflicts, such as those between fishermen and diving operators. Community funds were established to support taxi boat drivers, housewives, and fishermen, while an environmental fund aids Koh Tao Municipality. Economically, the project installed fish aggregating devices (FADs), boosting fish catch and biodiversity. It supports local product development, financial literacy workshops, and technology adoption. These initiatives align with the UN's Sustainable Development Goals, addressing Climate Action (Goal 13), Life Below Water (Goal 14), Life on Land (Goal 15), Decent Work and Economic Growth (Goal 8), and Partnerships for the Goals (Goal 17).
The project utilizes financial technology, such as the Krungthai e-Donation platform, to facilitate crowdfunding. QR code payments enable convenient donations, with electronic certificates issued and donation data sent to the Revenue Department for tax deductions. This efficient process benefits both contributors and the organization, ensuring transparency and convenience.
The project serves as a model for other islands, as Thailand's tourism-dependent communities face the challenge of balancing sustainable livelihoods with responsible resource utilization. The project emphasizes involving the local community in decision-making to ensure alignment with their needs, fostering long-term development. By promoting a sharing economy and adhering to ESG principles, the project aligns with the Bank's commitment to economic sustainability.
The Krungthai Loves Koh Tao Project exemplifies progress in supporting local livelihoods, promoting environmental conservation, and leveraging partnerships and financial technology for sustainable development.
The project has had impacts on environmental, social, and economic aspects. In addressing the issue of waste, the project has collected over 46 tons of marine debris and organized waste management training and craft workshops for locals, generating income opportunities. It also provided environmentally-friendly incinerators. The project promotes social inclusion by involving diverse groups on the island and mediating conflicts, such as those between fishermen and diving operators. Community funds were established to support taxi boat drivers, housewives, and fishermen, while an environmental fund aids Koh Tao Municipality. Economically, the project installed fish aggregating devices (FADs), boosting fish catch and biodiversity. It supports local product development, financial literacy workshops, and technology adoption. These initiatives align with the UN's Sustainable Development Goals, addressing Climate Action (Goal 13), Life Below Water (Goal 14), Life on Land (Goal 15), Decent Work and Economic Growth (Goal 8), and Partnerships for the Goals (Goal 17).
The project utilizes financial technology, such as the Krungthai e-Donation platform, to facilitate crowdfunding. QR code payments enable convenient donations, with electronic certificates issued and donation data sent to the Revenue Department for tax deductions. This efficient process benefits both contributors and the organization, ensuring transparency and convenience.
The project serves as a model for other islands, as Thailand's tourism-dependent communities face the challenge of balancing sustainable livelihoods with responsible resource utilization. The project emphasizes involving the local community in decision-making to ensure alignment with their needs, fostering long-term development. By promoting a sharing economy and adhering to ESG principles, the project aligns with the Bank's commitment to economic sustainability.
The Krungthai Loves Koh Tao Project exemplifies progress in supporting local livelihoods, promoting environmental conservation, and leveraging partnerships and financial technology for sustainable development.