City Bank PLC has released its Climate Report 2024, in alignment with the International Financial Reporting Standards (IFRS) S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and S2 (Climate-related Disclosures), issued by the International Sustainability Standards Board (ISSB).
The report is designed to offer investors, regulators, and stakeholders clear, actionable information. It details how the bank incorporates sustainability and climate-related risks and opportunities into its governance, risk management, and strategic planning processes.
The report also outlines the governance framework for overseeing sustainability and climate-related matters within City Bank. It further highlights strategies the bank has adopted to create a resilient business model in response to the challenges posed by climate change.
Key aspects of the report include:
| Key Areas | Details |
|---|---|
| Decarbonisation Efforts | Progress in reducing carbon emissions. |
| Climate Risk Assessments | Ongoing evaluations to identify and manage climate-related risks. |
| Sustainable Finance Initiatives | Efforts to support Bangladesh’s transition to a greener economy. |
| Net Zero Targets | Metrics and targets set to achieve net zero emissions. |
The report also outlines the bank’s preparedness for future challenges, including the evolving expectations of stakeholders in a world increasingly shaped by climate change.
Mashrur Arefin, Managing Director and CEO of City Bank PLC, commented, “We acknowledge the increasing demand for transparency from regulators, investors, and stakeholders on sustainability and climate risk management. By aligning with IFRS S1 and S2, City Bank is enhancing its accountability and reinforcing its commitment to a sustainable, climate-resilient future.”
The bank reiterated its commitment to integrating climate considerations into its core business strategy, working with both national and international partners to accelerate climate finance.