United Commercial Bank PLC launched its ‘Sustainability Report 2024’ at a special ceremony held at its corporate office recently in the capital, said a press release.
Chairman Sharif Zahir was present as chief guest.
The Carbon Accounting section of the report includes Scope 3 (Financed Emissions), assessed using the JIM Foundation’s PCAF-based template, along with Scope 1 and Scope 2 emissions, which cover the Bank’s direct and energy-related carbon footprint.
Speaking at the event, Sharif Zahir said, ‘The greatest threat to human existence is the unchecked emission of carbon into the atmosphere. Without immediate and effective action, it will bring about catastrophic consequences. UCB’s Sustainability Report 2024 is not just a document — it reflects our steadfast commitment to a future where financial growth, social welfare, and environmental protection are deeply interconnected.’
Through this report, the bank has undertaken the initiative to measure and disclose total carbon emissions generated from its lending and investment activities.
The report further highlights UCB’s commitment to embedding Environmental, Social, and Governance principles at the heart of its decision-making process.
In 2024, the bank made significant progress in green and sustainable financing, supporting initiatives in renewable energy, energy-efficient technologies, sustainable waste management, green buildings and climate-resilient agriculture, as per the release.