BANGKOK, Aug. 7, 2025 /PRNewswire/ -- The Bank for Agriculture and Agricultural Cooperatives (BAAC), a leading state-owned financial institution dedicated to empowering Thailand's agricultural sector, is proud to announce its distinguished recognition at the prestigious Asia Responsible Enterprise Awards (AREA) 2025. Presented by leading regional NGO, Enterprise Asia, the AREA 2025 is the most reputable award recognition program recognizing responsible organizational practices. BAAC has been honored with wins in two categories: Social Empowerment and Corporate Governance, underscoring its unwavering commitment to sustainable rural development and exemplary operational integrity.
The Social Empowerment award celebrates BAAC's groundbreaking "BAAC Carbon Credit: Where Air Becomes Wealth" project. This innovative initiative, operating under Thailand's Voluntary Emission Reduction Program (T-VER), directly transforms environmental stewardship into economic opportunity for rural communities. By providing farmers with training and support to register trees, measure carbon sequestration, and obtain certification, BAAC actively purchases these carbon credits at a market-leading rate of THB 3,000 per ton. This not only generates sustainable income and increases land value for participating farmers but also significantly contributes to reforestation efforts and Thailand's national carbon neutrality and Net Zero emission targets, with an ambitious goal of generating over 510,000 tons of carbon credits by 2028 across 6,814 "Tree Bank" communities.
In parallel, BAAC's win in the Corporate Governance category highlights its vision to be a "Sustainable Rural Development Bank". The bank has robustly integrated a comprehensive Governance, Risk, and Compliance (GRC) framework alongside its unique AGRI-CULTURE leadership system. This commitment has led to measurable improvements, including reduced non-performing loans, enhanced operational efficiency through digital systems and data-driven decisions, and increased employee engagement. BAAC's strategic alignment with national goals and the United Nations Sustainable Development Goals (UN SDGs) demonstrates its dedication to transparent, ethical, and effective governance that fosters financial literacy, expands product offerings, and builds profound trust within rural communities.
Through initiatives like "BAAC Carbon Credit: Where Air Becomes Wealth" and its steadfast "Sustainable Rural Development Bank" approach, BAAC continues to solidify its role as a pioneer in linking economic growth with environmental responsibility and sound governance, paving the way for a more prosperous and sustainable future.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplifting the economic status of people across Asia and ensuring a legacy of hope, innovation, and courage for future generations. Please visit https://www.enterpriseasia.org/ for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit https://enterpriseasia.org/area/.
source: Enterprise Asia
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