United Commercial Bank PLC (UCB) has formalised a strategic partnership with Ernst & Young Advisory Services Bangladesh Limited (EY ASBL) to advance its carbon accounting and emissions measurement capabilities, marking a significant step in the bank’s environmental sustainability journey.
The agreement was officially signed at UCB’s Corporate Office in Dhaka and is positioned as a cornerstone initiative to strengthen the bank’s commitment to responsible and transparent environmental management. According to the bank’s media statement, the collaboration will enable UCB to quantify, manage, and ultimately reduce its environmental footprint.
Under the terms of the agreement, EY ASBL will assist UCB in preparing its Greenhouse Gas (GHG) Inventory for the financial year 2024–25. This inventory will provide a systematic evaluation of the bank’s carbon emissions across all operational domains.
Specifically, the GHG assessment will cover three key emission categories:
| Scope | Description | Examples of Emissions |
|---|---|---|
| Scope 1 | Direct emissions from UCB’s operations | On-site fuel combustion, company vehicles |
| Scope 2 | Indirect emissions from energy consumption | Electricity and heating sourced externally |
| Scope 3 | Other indirect emissions | Business travel, outsourced services, supply chain activities |
This comprehensive approach ensures that UCB can capture the full spectrum of its operational carbon footprint, enabling informed decisions for emission reduction initiatives and sustainability reporting. By quantifying its emissions, the bank aims to align its operations with global environmental standards and the growing regulatory expectations on corporate climate responsibility.
The signing ceremony was attended by senior UCB officials, including Additional Managing Director and Chief Risk Officer Nabil Mustafizur Rahman, Chief Financial Officer Faruk Ahmed, Senior Executive Vice President Saiful Islam, Chief Compliance Officer Zishan Kingshuk Haq, and Senior Executive Vice President (GSD) Mohammad Asif Qureshi, among others.
Representing EY ASBL were Managing Director Nowshad Ekramullah, Associate Director Rana Sohel, and Manager Ibrahim Redwan, highlighting the advisory firm’s commitment to guiding clients in sustainability and climate risk management.
Through this partnership, UCB is taking measurable steps towards environmental stewardship, reflecting its dedication to sustainable banking practices and its broader corporate social responsibility goals. The initiative is expected to serve as a benchmark for other financial institutions in Bangladesh seeking to integrate robust carbon management frameworks.