In a significant move to strengthen environmentally responsible initiatives within Bangladesh’s financial sector, United Commercial Bank PLC (UCB) has entered into a strategic partnership with Ernst & Young Advisory Services Bangladesh Limited (EY ASBL). This collaboration aims to enhance the bank’s carbon accounting and greenhouse gas (GHG) assessment capabilities, marking a pivotal step towards sustainable banking practices.
The agreement was formally signed at UCB’s corporate office in Dhaka. Under the terms of the partnership, UCB will gain the expertise and tools necessary to measure, manage, and mitigate the environmental impact of its operations. This initiative reflects the bank’s commitment to integrating sustainability into its core business strategy while aligning with international environmental standards.
EY ASBL will assist UCB in preparing a comprehensive GHG inventory for the fiscal year 2024–25. The inventory will provide a complete and structured evaluation of carbon emissions generated by the bank’s operational activities, thereby offering a robust foundation for targeted sustainability planning and climate risk management.
UCB Greenhouse Gas Assessment Framework
| Scope | Description | Example Activities |
|---|---|---|
| Scope 1 | Direct emissions from UCB operations | On-site fuel combustion, company vehicle usage |
| Scope 2 | Indirect emissions from energy consumption | Electricity and heat sourced externally |
| Scope 3 | Other indirect emissions | Business travel, outsourced services, supply chain activities |
This detailed assessment will enable UCB to determine its total operational carbon footprint, facilitating the development of effective measures to reduce emissions and enhance environmental accountability. The initiative also positions the bank to comply with evolving corporate climate responsibility policies and global sustainability standards.
The signing ceremony was attended by UCB senior executives, including Additional Managing Director & Chief Risk Officer Nabil Mustafizur Rahman, Chief Financial Officer Faruk Ahmed, Senior Executive Vice President Saiful Islam, Chief Compliance Officer Zishan Kingshuk Haque, and Senior Executive Vice President (GSD) Mohammad Asif Qureshi.
Representing EY ASBL were Managing Director Nawshad Ekramullah, Associate Director Rana Sohel, and Manager Ibrahim Redwan, who will provide guidance on sustainability strategies and climate risk management.
Through this partnership, UCB is taking tangible steps to promote environmental stewardship, embedding sustainability in banking operations, and reinforcing corporate social responsibility. The initiative is expected to set a benchmark for robust carbon management practices within Bangladesh’s financial sector, contributing not only to environmental protection but also to the wider adoption of responsible and sustainable banking culture across the country.