BRAC Bank unveils IFRS S1 and S2 reports

FE Team | Published: July 07, 2025 23:18:45

BRAC Bank has published the country's first independent IFRS S1 and S2 Report, a globally aligned framework for climate and sustainability risk disclosure developed by the International Sustainability Standards Board (ISSB).
With the publication of its maiden independent IFRS Report, BRAC Bank becomes the only bank in Bangladesh and one of the few globally to adopt the newly introduced standards, positioning itself at the forefront of transparency, corporate responsibility, and climate governance both nationally and internationally, says a statement.
Introduced in 2023, the International Financial Reporting Standards (IFRS) S1 and S2 standards provide a unified, investor-focused framework for disclosing sustainability- and climate-related financial information. BRAC Bank has taken a pioneering step by voluntarily integrating these frameworks into its 2024 reporting, setting a precedent for financial institutions in emerging economies.
The report offers a comprehensive view of how BRAC Bank identifies, manages, and discloses its exposure to sustainability and climate-related risks and opportunities. It includes detailed metrics on board-level ESG oversight, integration of sustainability into business strategy, climate risk management systems, and the bank's full greenhouse gas (GHG) emissions footprint, including Scope 1, Scope 2, and Scope 3 emissions.
The report discloses financed emissions, applying the global PCAF (Partnership for Carbon Accounting Financials) methodology, an advanced climate impact measurement practice rarely implemented in developing markets.
The report is available in the following link on the BRAC Bank website: https://www.bracbank.com/download/BRAC-Bank-IFRS-S1-and-S2-Report-2024.pdf.