City Bank publishes climate report in alignment with IFRS S1, S2

City Bank PLC has published its "Climate Report 2024" in alignment with the International Sustainability Standards Board's (ISSB) IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures).

According to a press release, the report aims to provide investors, regulators and stakeholders with clear and decision-useful information. It demonstrates how sustainability and climate-related risks and opportunities are embedded in the bank's governance, risk management, and strategic planning.

The report outlines City Bank's governance framework for overseeing sustainability and climate-related matters, as well as the strategies adopted to build a resilient business model amid the challenges of climate change.

It also highlights progress in decarbonisation efforts, climate risk assessments, and sustainable finance initiatives undertaken to support Bangladesh's green transition. Additionally, the report provides insights into the metrics and targets guiding the bank's progress toward net zero and its preparedness for a future shaped by climate change and evolving stakeholder expectations.

Speaking on the occasion, Mashrur Arefin, managing director and CEO of City Bank PLC, said, "We recognise the growing expectations from regulators, investors, and stakeholders for greater transparency regarding sustainability and climate-related risk management."

"By aligning with IFRS S1 and S2, City Bank is strengthening its accountability framework and reinforcing its commitment to a more sustainable and climate-resilient future," he added.

City Bank reiterated its commitment to integrating climate considerations into its core business strategy and continues to collaborate with national and international partners to scale up climate finance.