DHAKA, March 3, 2024 (BSS) - In a proactive initiative, BRAC Bank has become the first bank in Bangladesh to disclose its Scope 3 greenhouse gas (GHG) emissions at the portfolio level, focusing primarily on business loans, which account for 81% of its total portfolio.
 
This pioneering disclosure marks a significant milestone in the banking industry's journey towards transparency and accountability in environmental impacts, a BRAC Bank press release said today.

Amidst evolving global regulations in the sustainability sphere, BRAC Bank's proactive approach places it at the vanguard of these important changes. The bank's Sustainability Report, endorsed by the Partnership for Carbon Accounting Financials (PCAF) for maintaining its standard and published on its website, is a testament to its commitment to international sustainability reporting standards.
 
As a founding member of the Global Alliance for Banking on Values (GABV), BRAC Bank has consistently demonstrated its dedication to sustainable banking.

Becoming a signatory of PCAF in March 2019, alongside a select group of GABV member banks globally, has further solidified its position as a leader in environmental stewardship within the financial sector.

BRAC Bank's latest sustainability report places it among a handful of banks and multinational corporations in Bangladesh that regularly publish reports adhering to the Global Reporting Initiative (GRI) Guidelines.

Moreover, BRAC Bank stands out as the only bank from Bangladesh to have signed onto PCAF, highlighting its unparalleled commitment to environmental transparency.

"Sustainability is at the core of our operations, and this GHG emission disclosure is a critical step in our journey towards achieving carbon neutrality," said Sabbir Hossain, Chief Sustainability Officer and Deputy Managing Director at BRAC Bank.

"We are committed to enhancing our disclosures, encompassing internal emissions and expanding the scope in future reports, with the ultimate goal of transitioning towards net zero," he said.