IFC Delivered Training-of-Trainers on Sustainability and Climate Disclosure to Bangladesh Bank Ahead of the Official Launch of Bangladesh Guideline on Sustainability and Climate-Related Financial Disclosure
Bangladesh Bank Guideline on Sustainability and Climate-related Financial Disclosure launch event on February 20, 2024, in Dhaka, Bangladesh. On the photo from left to right: Mike Zimonyi (IFC); Kate Lazarus (IFC); Ralitza Germanova (IFC); Chowdhury Liakat Ali (Bangladesh Bank); Lopa Rahman (IFC); Md Abu Rayhan (Bangladesh Bank); Ahmed Zubaer Mahbub (Bangladesh Bank); Md Abu Nayeem (Bangladesh Bank)
On February 17-19, 2024, the IFC Sustainability and Climate Disclosure and Transparency Program and the Asia Pacific ESG Bangladesh Project delivered the ToT on Sustainability and Climate Disclosure to the staff of the Bangladesh Bank following the release of the Bangladesh Guideline on Sustainability and Climate-related Financial Disclosure in December 2023.
Bangladesh Bank has emerged as a leading central bank in promoting green and sustainable finance, actively addressing climate and sustainability risks, and seizing opportunities within the financial sector through strategic policy measures. The Bank recognizes that the intended stakeholders for reliable, consistent, globally accepted sustainability and climate-related financial disclosure are the existing and potential investors, lenders, and other creditors, including development partners.
Bangladesh's Financial institutions are expected to proactively focus on disclosing sustainability and climate-related risks and opportunities with due consideration for the cooperation and collaboration needed to transform potential challenges into opportunities. Thus, the three-day knowledge and practice packed ToT prepared the central bank’s staff to provide essential guidance, assessment tools, and reporting templates for banks and financial companies of Bangladesh to implement SFR Circular No: 06, Guideline on Sustainability and Climate-related Financial Disclosure, the national ISSB-aligned sustainability reporting standards required by IMF.
The official country-level launch of Guideline took place in Dhaka, Bangladesh, on February 20, 2024. The event gathered Bangladesh Bank officials and more than 120 commercial bank representatives, who shared insights about their current climate-related disclosure practices and the readiness of the banks to adhere to the new disclosure requirements. Senior representatives of major banks (BRAC Bank, Bank Asia, Eastern Bank) discussed their sustainability and climate reporting journeys.
Bangladesh, being at the forefront of its sustainability journey for instituting a directive to enhance sustainability and climate-related financial disclosure within banks and financial institutions, strongly aligns with the IFC Asia Pacific ESG Bangladesh Project, supported by the State Secretariat for Economic Affairs of Switzerland (SECO).