City Bank PLC, recognised as one of Bangladesh’s leading sustainable banks, has formally announced its membership of the United Nations Principles for Responsible Banking (PRB) and its affiliation with the United Nations Environment Programme Finance Initiative (UNEP FI). This milestone underscores the bank’s steadfast commitment to aligning its sustainable finance practices and responsible banking strategies with internationally recognised standards.
The PRB, established under the leadership of UNEP FI, provides a comprehensive framework guiding banks to align their business strategies, portfolios, and operations with the Sustainable Development Goals (SDGs) and the climate objectives of the Paris Agreement. Founded in 1992, UNEP FI serves as a bridge between the United Nations and the global financial sector, connecting over 550 banks, insurers, and investors worldwide, while promoting international guidelines for sustainable finance.
Headquartered in Geneva, the UNEP FI Secretariat facilitates responsible investment through strategic guidance, collaborative initiatives, and knowledge exchange. By joining PRB, City Bank PLC has become part of a global community dedicated to fostering sustainable, inclusive, and resilient financial systems.
The bank has pledged to evaluate the environmental and social impacts of its operations, set measurable targets in critical areas, and enhance transparency and accountability in line with global best practices. This ensures that its initiatives not only drive profitability but also contribute positively to communities and the environment.
The table below highlights City Bank PLC’s core PRB commitments and anticipated outcomes:
| Commitment Area | Action Plan | Expected Outcome |
|---|---|---|
| Environmental Responsibility | Measure and disclose environmental impacts | Reduction in carbon emissions and improved climate risk management |
| Social Impact | Assess social impact of banking operations | Inclusive economic growth and community development |
| Governance & Transparency | Strengthen reporting and accountability | Increased stakeholder trust and alignment with international standards |
| Climate Finance | Incorporate climate considerations in lending | Growth in sustainable project investments in Bangladesh |
Mashrur Arefin, Managing Director and Chief Executive Officer of City Bank PLC, stated:
“Joining the Principles for Responsible Banking marks a pivotal milestone in our sustainability journey. It empowers us to contribute to Bangladesh’s sustainable development goals, scale up climate finance, and promote inclusive economic growth. Moreover, it allows us to leverage global banking experiences to navigate emerging sustainability challenges effectively.”
City Bank’s adoption of international responsible banking principles reflects its proactive stance on environmental stewardship, social responsibility, and corporate governance. This strategic move further solidifies the bank’s position as a pioneer in sustainable finance in Bangladesh and the wider region, setting a benchmark for responsible and internationally aligned banking practices.