City Bank PLC, recognised as one of Bangladesh’s foremost sustainable financial institutions, has officially announced its signing of the United Nations Principles for Responsible Banking (PRB) and its membership of the United Nations Environment Programme Finance Initiative (UNEP FI). This step reinforces the bank’s dedication to integrating international standards of sustainable finance and responsible banking into its core operations.
The PRB, established under UNEP FI’s guidance, provides a robust international framework for banks to align their business strategies, portfolios, and operations with the Sustainable Development Goals (SDGs) and the climate targets outlined in the Paris Agreement. Since its inception in 1992, UNEP FI has acted as a critical bridge between the United Nations and the global financial sector, connecting over 550 banks, insurers, and investors worldwide while shaping global sustainable finance standards.
Based in Geneva, the UNEP FI Secretariat facilitates the rapid global adoption of responsible finance through guidance, collaborative initiatives, and knowledge-sharing. By becoming a PRB signatory, City Bank PLC joins an international community committed to promoting financial systems that are sustainable, inclusive, and resilient.
The bank has committed to assessing the environmental and social impacts of its operations, establishing measurable targets in priority areas, and enhancing transparency and accountability according to global best practices. These initiatives are designed to support sustainable development while creating tangible value for stakeholders and society at large.
Key commitments and expected outcomes under City Bank’s PRB membership are summarised below:
| Commitment Area | Action Plan | Expected Outcome |
|---|---|---|
| Environmental Responsibility | Assess and report environmental impacts | Lower carbon emissions and improved climate risk management |
| Social Impact | Evaluate social effects of banking activities | Inclusive growth and enhanced community welfare |
| Governance & Transparency | Enhance reporting and accountability | Strengthened stakeholder confidence and compliance with global standards |
| Climate Finance | Integrate climate considerations into lending | Increased investment in sustainable projects across Bangladesh |
Mashrur Arefin, Managing Director and Chief Executive Officer of City Bank PLC, remarked:
“Adopting the Principles for Responsible Banking represents a landmark achievement in our sustainability journey. It enables us to contribute meaningfully to Bangladesh’s sustainable development objectives, expand climate finance, and promote inclusive economic growth. Furthermore, it offers us insights from global banking practices to navigate emerging sustainability challenges effectively.”
City Bank PLC’s adoption of these international responsible banking principles reflects its proactive approach to environmental protection, social responsibility, and sound corporate governance. This move further strengthens the bank’s position as a leading institution in sustainable finance in Bangladesh and the region, setting a benchmark for responsible banking aligned with international standards.
