City Bank unveils first ESG report, reinforcing sustainability commitment

City Bank PLC has unveiled its first Environmental, Social and Governance (ESG) Report, titled "Bank on Solidity, Banking on Sustainability", marking a significant milestone in the bank's sustainability journey.

Building on its previous Sustainability Reports, the comprehensive ESG Report aligns with global frameworks, including the GRI Standards, IFRS S1 and S2, and the UN Sustainable Development Goals (SDGs), among others, according to a press release.

The report highlights the bank's climate and environmental initiatives, as well as its broader contributions to the economy and society, driven by strong governance and the integration of sustainability into strategic decision-making.

It details progress in green and sustainable finance, including investments in renewable energy, energy efficiency, and waste management, alongside the integration of environmental and social risk management (ESRM) in lending.

Beyond climate action, the report underscores City Bank's efforts in financial inclusion, support for women entrepreneurs, SME financing, CSR activities, and maintaining a greenhouse gas (GHG) emissions inventory, demonstrating transparency and accountability.

Commenting on the publication, Mashrur Arefin, managing director and CEO of City Bank PLC, said, "Our ESG Report reflects our journey towards becoming a future-ready, responsible, and inclusive financial institution, strengthening stakeholder trust and reinforcing our role as a catalyst for sustainable growth in Bangladesh."

According to the release, the publication marks a new chapter in City Bank's sustainability journey, enhancing its credibility with regulators, investors, development partners, and customers seeking responsible long-term partnerships.