Page 88 - BTSGroup ONE REPORT 2021/22_EN

86 l Introduction l Nature of Business l Organisation and Shareholding Structure l Business Review l Corporate Governance l Financial Statements l Other Information l

More details on sustainability management in the environmental dimension Green Bond Portfolio
can be found in the Company's Sustainability Report FY 2021/22, section 3: At the end of March 2022, Green Bonds portfolio consists of fourteen Green
BTS Group for Environmental Sustainability. Bonds, issued by BTSG and BTSC.

Sustainable Management in Economic Dimension BTSG issued Green Bonds twice total ten bonds, amounting to THB 21,600mn.
BTS Group Long-term Climate Strategy through Sustainable The first Green bond was issued in May 2019, five tranches amount THB
Finance Practices 13,000mn and in November 2020, five tranches amount THB 8,600mn. The
bonds issued in May 2019 were the first Thai Green Bond issued under the new
BTS Group has placed great prominence on cultivating our capital to be
mobilised into the development of lasting low-carbon infrastructures to support Thai Securities & Exchange Commission’s Green Bond and the first Thai Green
the sustainable growth of the community we serve. BTS Group expects a Bond offering to Thai institutional and high-net-worth investors. In November
continued bifurcation of funding costs, with sustainable projects and companies 2021, BTSC issued four tranches of Green Bonds total of THB 10,200mn
enjoying a lower cost of funding versus unsustainable projects or companies. (see table below). These bonds are certified to comply with the Climate Bonds
Our ability to develop credible and certified sustainable projects benefits not Standard by Climate Bonds Initiative (CBI) which is an international non-profit
only our shareholders but investors who can participate in our debt capital organisation working solely to mobilise the largest capital market for climate
markets issuance. In the past few years, BTS Group and BTSC issued Green change solutions.
Bonds and Sustainability-Linked Bonds (SLB), details are as follows:

Green Bonds 2022 (Data as of 31 March 2022)
BTS Group has committed to operate businesses that embrace social and
environmental sustainability. We have developed the BTSG Green Bond
Framework under which the Company and its subsidiary, BTSC intend to issue Green
Bonds to finance or refinance projects which provide clear environmental benefits,
specifically related to clean transportation.

Green Bonds Framework
BTSG Green Bond framework has been reviewed externally, with a Second Party
Opinion and a verification by Sustainalytics which is a leading independent
research facility of ESG and corporate governance. The review concludes that
“BTSG’s Green Bond Framework is credible, impactful and aligns with The
International Capital Market Association Green Bond Principles (ICMA GBP)
and ASEAN Green Bond Standards (ASEAN GBS)”.