UCB partners with IVY Decarb to support net-zero transition

United Commercial Bank PLC (UCB) has signed a memorandum of understanding (MoU) with IVY Decarb Marketplace SL (IVY), a specialised business-to-business digital platform, to promote sustainable net-zero carbon emission initiatives.

Nabil Mustafizur Rahman, managing director and CEO (current charge) of UCB, and Javier Bernal Dionis, chief executive officer of IVY Decarb Marketplace SL, signed the MoU in Dhaka recently, according to a press release.

Sharif Zahir, chairman of the bank, attended the signing ceremony.

The partnership marks a significant step towards promoting sustainable business practices and supporting decarbonisation efforts in Bangladesh’s textile and garment sector.

Under the collaboration, ITX Trading SA may contribute strategic guidance, industry insights and global best practices related to sustainability, supply chain decarbonisation and responsible sourcing.

Through the partnership, the organisations aim to facilitate access to green and climate-focused solutions for textile and garment businesses in Bangladesh.

The initiative will also support the implementation of decarbonisation measures, helping businesses transition towards more sustainable and environmentally responsible operations.

The collaboration reflects UCB’s commitment to sustainable finance, green transformation and supporting Bangladesh’s journey towards a low-carbon future, the release added.

Among others, Adnan Masud, additional managing director of wholesale banking at UCB; José Manuel Caballero, managing director of the B2B digital platform; Md Masud Rana, business development director; and Javier Carlos Santonja Olcina, country head for ITX Trading SA, were also present.