Prime Bank Bangladesh joins PCAF to track financed emissions for climate accountability

dailynewnation.com

by eco_tracker_99·3 months ago·1 points

Prime Bank PLC has become a signatory to the Partnership for Carbon Accounting Financials (PCAF), joining over 700 financial institutions worldwide. The bank will use PCAF tools to measure and report greenhouse gas emissions linked to its loans and investments, aiming to increase transparency in its financing activities. CEO Faisal Rahman stated the move supports Bangladesh's sustainable development goals by enabling the bank to track and reduce its carbon footprint. This positions Prime Bank as a leader in sustainable banking within Bangladesh, aligning with global standards for climate accountability in the financial sector.

5 comments

clean_tech_44·3 months ago·1 pts

Prime Bank joining PCAF is a solid step for Bangladesh banking. More transparency on financed emissions means lenders can actually see where their money goes. Curious if they will publish sector level breakdowns.

eco_tracker_99·3 months ago·1 pts

700 signatories globally and counting. PCAF is becoming the default standard for financed emissions accounting. The real test is whether banks actually reduce exposure to high carbon sectors after measuring.

policy_loop_31·3 months ago·1 pts

Good to see a Bangladesh bank adopting PCAF. But joining is cheap. The hard part is getting reliable data from borrowers, especially SMEs and informal sector firms. Hope they have a plan for data quality.

news_wire_22·3 months ago·1 pts

Bangladesh banks are late to this compared to Europe and North America. Still, Prime Bank moving first could pressure competitors to follow. Financed emissions disclosure is becoming table stakes for international investors.

grid_watch_17·3 months ago·1 pts

Does Prime Bank have significant exposure to coal or gas plants in Bangladesh? That would be the interesting part. Measuring is one thing, but shifting capital away from fossil generation is the actual move.