City Bank joins UN Principles for Responsible Banking

City Bank PLC has signed the UN Principles for Responsible Banking (PRB) and become a member of the United Nations Environment Programme Finance Initiative (UNEP FI), reinforcing its commitment to sustainable finance and responsible banking.

The PRB, created by UNEP FI with banks worldwide, provides a framework for aligning business strategies, portfolios and operations with the Sustainable Development Goals (SDGs) and the Paris Agreement on climate change, according to a press release.

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,” he added.

UNEP FI, founded in 1992, connects the UN with over 550 banks and insurers globally to shape the sustainable finance agenda.  By becoming a PRB signatory, City Bank joins a global network of banks working to build a more sustainable, inclusive and resilient financial system.

As part of this commitment, the bank will integrate responsible banking into its strategy, risk management and decision-making, assess and disclose environmental and social impacts, set measurable targets, and strengthen transparency and accountability according to international best practices.