MTB joins global carbon accounting initiative to boost climate transparency

Mutual Trust Bank PLC (MTB) has joined the Partnership for Carbon Accounting Financials as a signatory, reinforcing its commitment to transparency, consistency and accountability in climate-related measurement and reporting.

The bank said the move reflects its intention to align with globally recognised frameworks and strengthen its approach to climate action and sustainability.

"At MTB, we believe credible climate action begins with robust measurement frameworks and transparency," said Syed Mahbubur Rahman, managing director and chief executive officer of Mutual Trust Bank. He added that becoming a signatory to the Partnership for Carbon Accounting Financials demonstrates the bank's intent to align with global best practices and support the transition to a low-carbon economy.

Chowdhury Akhtar Asif, additional managing director and chief business officer of the bank, said Mutual Trust Bank believes in the global transition toward net zero and is committed to aligning its risk management and financing decisions with internationally recognised best practices.

He said adopting global frameworks such as the Partnership for Carbon Accounting Financials would strengthen the bank's ability to manage climate-related risks while supporting sustainable growth.

The Partnership for Carbon Accounting Financials was launched globally in September 2019. At present, more than 700 financial institutions worldwide have subscribed to the initiative.

Participants of the Partnership for Carbon Accounting Financials jointly develop the Global Greenhouse Gas Accounting and Reporting Standard for the financial industry, which is used to measure and disclose greenhouse gas emissions associated with loans and investments.

As a signatory, Mutual Trust Bank will continue to enhance its climate risk management, reporting practices and sustainability initiatives in support of Bangladesh's green transition.