UCB, Ernst & Young Advisory Services partner to strengthen carbon accounting

United Commercial Bank PLC (UCB) has signed an agreement with Ernst & Young Advisory Services Bangladesh Limited (EY ASBL) to enhance its carbon accounting and emissions measurement practices as part of its broader sustainability strategy.

Nabil Mustafizur Rahman, additional managing director and chief risk officer of United Commercial Bank PLC, and Naushad Ekramullah, partner and managing director of Ernst & Young Advisory Services Bangladesh Limited, signed the agreement at the bank’s corporate office in Dhaka recently, according to a press release.

Under the arrangement, EY ASBL will support UCB in preparing its greenhouse gas (GHG) inventory for the 2024-2025 financial year.

The exercise will measure and analyse the bank’s carbon emissions across all three recognised scopes: direct emissions from its own operations (Scope 1), emissions arising from electricity and energy consumption (Scope 2), and other indirect emissions linked to operational activities (Scope 3).

The comprehensive assessment is expected to provide the bank with a clearer understanding of its environmental footprint and inform a structured roadmap for emission reduction.

The partnership is also set to reinforce UCB’s sustainable finance agenda. By establishing a robust carbon accounting framework, the bank aims to implement more effective emission mitigation strategies in the coming years while strengthening its environmental, social and governance (ESG) reporting in line with international standards.

As financial institutions worldwide increasingly prioritise environmentally responsible operations, UCB’s initiative underscores its ambition to combine financial performance with environmental stewardship.

Faruk Ahmed, chief financial officer of the bank; Saiful Islam, senior executive vice-president; Zishan Kingshuk Haq, chief communication officer; and Mohammad Asif Qureshi, senior executive vice-president (GSD), attended the programme.

Rana Sohel, associate director of EY ASBL, and Ibrahim Redwan, manager, along with other senior officials from both organisations, were also present.