MTB joins global carbon accounting alliance PCAF
Mutual Trust Bank PLC has announced that it has joined the Partnership for Carbon Accounting Financials (PCAF) as a signatory, underscoring its commitment to enhancing transparency, consistency, and accountability in climate-related measurement and reporting.
Syed Mahbubur Rahman, Managing Director and CEO of Mutual Trust Bank PLC, said the move reflects the bank's intention to align with global best practices in climate action.
'At MTB, we believe credible climate action begins with robust measurement frameworks and transparency. Becoming a PCAF signatory demonstrates our commitment to supporting the transition to a low-carbon economy,' he said.
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Chowdhury Akhtar Asif, Additional Managing Director and Chief Business Officer of the bank, echoed the sentiment, stating that MTB is committed to the global transition towards net zero.
'Aligning our risk management and financing decisions with internationally recognised frameworks such as PCAF strengthens our ability to manage climate-related risks while supporting sustainable growth,' he said.
The Partnership for Carbon Accounting Financials was launched globally in September 2019. More than 700 financial institutions worldwide have since joined the initiative. PCAF participants collaborate to develop the Global Greenhouse Gas Accounting and Reporting Standard for the Financial Industry, which enables financial institutions to measure and disclose the greenhouse gas emissions associated with their loans and investments.
As a PCAF signatory, Mutual Trust Bank will continue to strengthen its climate risk management, reporting practices, and sustainability initiatives in support of Bangladesh's green transition.
