EBL becomes the first bank to conduct Climate Risk Assessment

Eastern Bank PLC. (EBL) has released its standalone Sustainability Report 2024, reaffirming its leadership in Environmental, Social, and Governance (ESG) excellence in Bangladesh’s banking sector.

The report, prepared in the light of IFRS S1 – Sustainability Disclosures and IFRS S2 – Climate-related Disclosures, underscores EBL’s commitment to international standards of transparency, accountability, and climate risk reporting, according to a media release. 

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

Recognized 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 IFC, DEG, FMO, 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—analyzing the potential impact 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 decarbonization 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 adds.