City Bank PLC joins the United Nations Principles for Responsible Banking
City Bank PLC, the top sustainable bank in Bangladesh, has signed the UN Principles for Responsible Banking (PRB) and became a member of the United Nations Environment Programme Finance Initiative (UNEP FI), a press release says.
Signing the Principles reinforces the Bank’s commitment to sustainable finance and responsible banking practices aligned with global standards.
The PRB, created by UNEP FI alongside banks 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, founded in 1992, brings together a large network of banks, insurers and investors, connecting the United Nations with financial institutions from around the world to shape the sustainable finance agenda.
The Geneva-based Secretariat works with more than 550 banks and insurers worldwide.
By becoming a PRB signatory, City Bank PLC joins a global community of banks working to build a more sustainable, inclusive and resilient financial system.
As part of this commitment, City Bank PLC will further integrate responsible banking considerations into its business strategy, risk management, and decision-making processes.
The Bank will assess and disclose the environmental and social impacts of its activities, set measurable targets in priority impact areas, and strengthen transparency and accountability in line with international best practices.
Commenting on the Bank’s joining of the PRB, Mashrur Arefin, managing director and CEO of City Bank said, ‘Joining the Principles for Responsible Banking marks an important milestone in our sustainability journey. Through this, we will be able to highlight our role at a global platform in supporting the achievement of Bangladesh’s sustainable development goals, strengthening climate finance, and promoting inclusive economic growth. At the same time, it will create opportunities for us to learn about emerging sustainability-related issues from the experiences of banks across the globe.’