Mr. Rak Vorrakitpokatorn, President of the Export-Import Bank of Thailand (EXIM Thailand), announced the success of hosting the 12th Regional Cooperation Group CEO Meeting at Capella Hotel in Bangkok on November 21, 2023.
The meeting marked the first gathering of member organizations after the 11th meeting in Tokyo, Japan, in 2020, with a hiatus of over three years due to the COVID-19 pandemic. Key topics discussed during this meeting centered around the significance of environmental, social, and governance (ESG) values, which are no longer seen as idealistic and unrealistic. The uncertainty caused by the COVID-19 outbreak has prompted businesses to reconsider and apply the ESG management concept for a sustainable future, focusing more on ethical and moral values. Aspects such as sustainability and the management of climate-related risks are prominent for the business sectors, including the insurance industry, amid opportunities and risks.
During the meeting, members acknowledged the growing significance of government support in propelling businesses towards eco-friendly objectives. They expressed their dedication to addressing climate change and embracing the green transition through various forms of green financial support, such as the launch of green credit insurance products or financial support for green project finance transactions. Additionally, members are benchmarking and supporting companies in green renewable energy, power plants, and waste management, reducing support for the most carbon-intensive industries, fostering a low carbon society and committing to net-zero targets. Anticipating a substantial rise in ESG focus and activity, members foresee emerging innovations and new client solution opportunities in the year ahead.
“All RCG members, including EXIM Thailand, are committed to expanding strong cooperation and working closely together to meet the needs of exporters who have developed supply chains across the region by combining knowledge and risk-taking capacity. This cooperation will increase RCG members’ ability to furnish their clients’ needs and deal with challenges through comprehensive services on a sustainable basis,” said Dr. Rak.
The RCG comprises 12 member organizations, including Asuransi Ekspor Indonesia (ASEI), ECGC Limited, Export Finance Australia (EFA), Hong Kong Export Credit Insurance Corporation (HKECIC), Korea Trade Insurance Corporation (K-SURE), Nippon Export and Investment Insurance (NEXI), Export-Import Bank of Malaysia Berhad (MEXIM), Chinese Export and Credit Insurance Corporation (SINOSURE), Enterprise Singapore, Sri Lanka Export Credit Insurance Corporation (SLECIC), Taipei Export-Import Bank of China (TEBC), and EXIM Thailand.