City Bank PLC, recognised as one of the leading sustainable banks in Bangladesh, has officially become a signatory to the United Nations Principles for Responsible Banking (PRB) and joined the United Nations Environment Programme Finance Initiative (UNEP FI). This move underscores the Bank’s steadfast commitment to sustainable finance and responsible banking practices aligned with internationally recognised standards.
The PRB, developed by UNEP FI in collaboration with financial institutions worldwide, provides a global framework for banks to align their business strategies, portfolios, and operations with the Sustainable Development Goals (SDGs) and the objectives of the Paris Agreement on climate change. UNEP FI, established in 1992, serves as a bridge between the United Nations and the global financial sector, connecting over 550 banks, insurers, and investors to shape the international sustainable finance agenda. The Geneva-based Secretariat of UNEP FI facilitates knowledge-sharing, guidance, and collaborative initiatives to accelerate responsible finance globally.
By joining the PRB, City Bank PLC becomes part of a global community of banks dedicated to fostering a more sustainable, inclusive, and resilient financial system. As a PRB signatory, the Bank will systematically integrate responsible banking principles into its business strategy, risk management, and decision-making processes. This includes assessing and publicly disclosing the environmental and social impacts of its operations, establishing measurable targets in key impact areas, and enhancing transparency and accountability in accordance with global best practices.
Key Commitments of City Bank PLC under PRB Membership
| Commitment Area | Action Plan | Expected Outcome |
|---|---|---|
| Environmental Responsibility | Measure and disclose environmental impact | Reduced carbon footprint and climate risk management |
| Social Impact | Assess social effects of banking activities | Support for inclusive economic growth and community development |
| Governance & Transparency | Strengthen reporting and accountability | Improved stakeholder trust and alignment with global standards |
| Climate Finance | Integrate climate considerations into lending | Enhanced financing for sustainable projects in Bangladesh |
Commenting on the Bank’s PRB membership, Mashrur Arefin, Managing Director and CEO of City Bank, said:
“Joining the Principles for Responsible Banking marks a pivotal milestone in our sustainability journey. This enables us to demonstrate our role on a global platform in supporting Bangladesh’s sustainable development goals, advancing climate finance, and promoting inclusive economic growth. Simultaneously, it offers opportunities to gain insights into emerging sustainability challenges through the experiences of banks worldwide.”
City Bank PLC’s adoption of international responsible banking principles highlights its proactive approach to environmental stewardship, social responsibility, and corporate governance, reinforcing its position as a pioneer in sustainable finance within Bangladesh and the region.