City Bank PLC has released its Climate Report 2024, marking a significant step towards aligning its environmental and governance disclosures with global sustainability standards. The report is fully compliant with the International Sustainability Standards Board’s (ISSB) frameworks — IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures).
The publication underscores City Bank’s commitment to transparency and accountability, providing investors, regulators, and stakeholders with decision-useful information about how the bank manages environmental, social, and governance (ESG) risks. It also illustrates how climate-related risks and opportunities are embedded across the bank’s governance structure, strategic decision-making, and risk management systems.
According to the report, City Bank has made notable progress in integrating sustainability into its operations, particularly in areas such as decarbonisation, climate risk assessment, and green finance mobilisation. The bank’s initiatives support Bangladesh’s broader transition towards a low-carbon and climate-resilient economy.
Key Highlights from the Report
| Focus Area | Description |
|---|---|
| Governance Framework | Oversight by the Board-level Sustainability Committee and dedicated Climate Risk Unit within the Risk Management Division. |
| Decarbonisation Strategy | Introduction of internal emission reduction targets and energy efficiency programmes across corporate branches and data centres. |
| Sustainable Finance | Expansion of climate-aligned lending, including renewable energy, eco-friendly manufacturing, and green building projects. |
| Climate Risk Assessment | Integration of physical and transition climate risks into the bank’s enterprise risk management model. |
| Disclosure Alignment | Full compliance with IFRS S1 and S2 standards, ensuring international comparability and investor confidence. |
Speaking on the publication, Mashrur Arefin, Managing Director and CEO of City Bank PLC, said:
“We recognise the increasing expectations from regulators, investors, and the public for enhanced transparency in climate-related risk management. By adopting IFRS S1 and S2, we are not only meeting those expectations but also reinforcing our long-term ambition to be a sustainability leader in Bangladesh’s financial sector.”
The report also outlines City Bank’s roadmap for achieving net zero emissions, with clear metrics and targets to monitor progress. These include investment in renewable energy portfolios, support for sustainable SMEs, and collaboration with development partners to mobilise climate finance.
City Bank’s 2024 Climate Report positions the institution among the first in Bangladesh’s banking sector to adopt the ISSB-aligned disclosure standards, reflecting a growing trend of financial institutions embracing climate transparency and responsible finance as part of their strategic priorities.