BRAC Bank has secured the Number 1 position in Bloomberg鈥檚 ESG Rating 2024 among all Bangladeshi organisations, marking the third consecutive year it has been recognised, consistently ranking within the top ten organisations.
At the same time, the Bangladesh Bank has named BRAC Bank one of the top sustainable banks for the fifth consecutive year, said a press release.
The Bloomberg鈥檚 ESG Rating 2024 placed BRAC Bank at the very top with an overall score of 3.8, comprising environmental (1.76), social (5.83), and governance (3.07).
This positioned the bank ahead of IDLC Finance (3.51) and City Bank (2.64), outperforming even multinational companies operating in Bangladesh, the release said.
This recognition marks the third consecutive year BRAC Bank has been featured among Bloomberg鈥檚 top ten organisations for ESG performance.
For the fifth consecutive year, the Bangladesh Bank has recognised BRAC Bank as one of the top sustainable banks in the country. The bank also secured an 鈥楨xcellent鈥� rating from the central bank, alongside two other leading banks, it added.
The central bank鈥檚 rating assesses institutions across five criteria: Sustainable Finance Index, CSR activities, Green Refinance, Core Banking Sustainability Index and Banking Services Coverage.
As per the release, BRAC Bank stands out as the first Bangladeshi bank to publicly disclose Scope 1, 2 and 3 carbon emissions under the Partnership for Carbon Accounting Financials framework and the first to publish independent IFRS S1 and S2 reports aligned with International Sustainability Standards Board standards.
In line with international best practices, the bank is also preparing to issue a Tk 1,000 crore Social Bond, aligned with the International Capital Market Association principles.
Tareq Refat Ullah Khan, managing director and chief executive officer (current charge) of BRAC Bank, said, 鈥楽ustainability is not a choice 鈥� it is the foundation of long-term resilience, growth and relevance. These recognitions from Bloomberg and Bangladesh Bank affirm our deep-rooted commitment to responsible banking, transparency, and impact.鈥�