United Commercial Bank PLC (UCB) has become the first bank in Bangladesh to publish its “Sustainability Report 2024”, officially disclosing its carbon accounting data. This initiative marks a significant milestone in the country’s banking sector toward sustainable development.
In a press release issued on Thursday (September 23), UCB stated that the report measures and publicly discloses the total carbon emissions generated from its lending and investment activities—setting a new benchmark for sustainable banking practices in Bangladesh.
The report was unveiled at a ceremony held at the bank’s head office, where UCB Chairman Sharif Zahir was present as the chief guest, along with members of the Board of Directors and senior management officials.
The report includes Scope 3 emissions calculated using the PCAF (Partnership for Carbon Accounting Financials) framework developed by the GIM Foundation. It also incorporates Scope 1 and 2 emissions—covering direct and energy-related emissions—from the bank’s own operations.
UCB further announced its commitment to increasing investments in green and renewable energy sectors while gradually reducing financing in high-carbon industries, as part of its long-term vision for sustainable economic growth.
— MAZ