City Bank PLC has released its “Climate Report 2024” following the guidelines of the International Sustainability Standards Board’s (ISSB) IFRS S1 and IFRS S2. The report is designed to offer clear and valuable information to investors, regulators, and stakeholders, showcasing how sustainability and climate-related risks and opportunities are integrated into the bank’s governance, risk management, and strategic planning.
Outlined in the report is City Bank’s governance structure for managing sustainability and climate-related issues, along with the strategies employed to establish a resilient business model in the face of climate change challenges. The document also emphasizes the bank’s advancements in decarbonization, climate risk evaluations, and sustainable finance projects aimed at supporting Bangladesh’s transition to a greener economy.
Furthermore, the report delves into the specific metrics and objectives guiding City Bank’s journey towards achieving net zero emissions and its readiness for a future influenced by climate change and changing stakeholder demands. During the announcement, Mashrur Arefin, the managing director and CEO of City Bank PLC, acknowledged the increasing demand for transparency on sustainability and climate-related risk management from various stakeholders.
Arefin stated, “By adhering to IFRS S1 and S2, City Bank is reinforcing its commitment to a sustainable and climate-resilient future, aligning with the expectations of regulators, investors, and stakeholders.” The bank reaffirmed its dedication to integrating climate considerations into its fundamental business strategy and emphasized ongoing collaborations with local and global partners to expand climate finance initiatives.