Eastern Bank unveils ‘Sustainability Report 2024’

Eastern Bank PLC (EBL) has released its standalone Sustainability Report 2024, reaffirming its leadership in environmental, social, and governance (ESG) excellence within Bangladesh's banking sector.

Prepared in accordance with IFRS S1 -- Sustainability Disclosures and IFRS S2 -- Climate-related Disclosures; the report underscores EBL's commitment to international standards of transparency, accountability, and climate risk reporting.

Ali Reza Iftekhar, managing director of Eastern Bank PLC, unveiled the report at the bank's head office in Dhaka today, according to a press release.

"The Sustainability Report 2024 reflects EBL's pioneering role in integrating climate risk assessment and GHG accounting into banking operations," Iftekhar said. "Through alignment with IFRS S1 and S2, we aim to enhance resilience, transparency, and accountability across our financial ecosystem."

Recognised among the top 10 sustainable banks by Bangladesh Bank, EBL continues to embed environmental and social risk management, green finance, and climate resilience into its core business strategy.

The bank collaborates with international development partners including the International Finance Corporation (IFC), Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Entrepreneurial Development Bank (FMO), Asian Development Bank (ADB), JIM Foundation, and the Opec Fund to advance its sustainability agenda.

As the first bank in Bangladesh to conduct a comprehensive climate risk assessment across its lending portfolio, EBL evaluated both physical and transition risks, analysing the potential impacts of floods, cyclones, temperature rise, and policy changes on clients and overall portfolio performance.

EBL has also completed a full greenhouse gas (GHG) emissions inventory, covering Scope 1, 2, and 3 emissions, including financed emissions, which constitute the largest share of its carbon footprint.

This comprehensive assessment establishes the foundation for EBL's sectoral decarbonisation pathway, supporting Bangladesh's national climate commitments and the goals of the Paris Agreement.

The Sustainability Report 2024 is available on EBL's official website, offering stakeholders detailed insights into the bank's ESG governance, climate risk management framework, and roadmap toward a low-carbon, sustainable future, the release added.

Ahmed Shaheen, additional managing director; Masudul Hoque Sardar, chief financial officer; Mouri Rezwana, head of regulatory reporting; Mahdiar Rahman, acting chief risk officer; Nafis Ahmed, acting head of risk management division; and Tanvir Hasan, senior environmental and social risk specialist, were also present.