EBL partners with DEG and JIM Foundation to enhance climate risk assessment capabilities

Eastern Bank has signed a Technical Assistance (TA) Framework Agreement with DEG Impulse— a wholly owned subsidiary of DEG — and the Joint Impact Model (JIM) Foundation to bolster its capacity in assessing, measuring, and managing climate-related financial risks.

The agreement was formally signed recently at EBL’s head office in Dhaka by Mehdi Zaman, Deputy Managing Director and Head of Treasury, Financial Institutions, and Offshore Banking at EBL; Dr Hubertus Pleister, Managing Director of DEG Impulse; and Alex MacGillivray, Executive Director of the JIM Foundation, according to a media release. 

The signing ceremony was also attended by Juliane Loch, Director – FI Debt Asia/EMECA at DEG.

As part of this strategic collaboration, EBL will implement the JIM Climate Risk Tool to identify and evaluate both physical and transition climate risks across its lending portfolio.

“This partnership reflects EBL’s unwavering commitment to aligning with international best practices and emerging regulatory standards in climate risk governance,” said Ali Reza Iftekhar, Managing Director and CEO of EBL.

He added, “The integration of this advanced tool into our risk management framework is a significant milestone. It enables data-driven decision-making and strengthens EBL’s position as a frontrunner in Bangladesh’s financial sector in addressing climate-related challenges.”