City Bank signs UN principles for responsible banking, joins UNEP FI

City Bank PLC has signed the United Nations Principles for Responsible Banking (PRB) and joined the United Nations Environment Programme Finance Initiative (UNEP FI), the bank stated.

Developed under UNEP FI, the PRB provide a framework for banks to align strategies, portfolios, and operations with the Sustainable Development Goals (SDGs) and the Paris Agreement. UNEP FI, convened by a Geneva-based secretariat, works with a global network of more than 550 banks and insurers on voluntary initiatives to advance sustainable finance.

By becoming a PRB signatory, City Bank stated it will further integrate responsible banking considerations into strategy, risk management, and decision-making, including assessing and disclosing environmental and social impacts, setting measurable targets, and strengthening transparency and accountability in line with international practice.

Mashrur Arefin, managing director and chief executive officer of City Bank, stated, "Joining the Principles for Responsible Banking marks an important milestone in our sustainability journey. Through this, we will be able to highlight our role on 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."