Nabil Bank published its greenhouse gas emission report (report included)
The report was made public as part of Nabil Bank's commitment letter as a signatory to the Partnership for Carbon Accounting Financials (PCAF) in 2021.
KATHMANDU: Nabil Bank has published its 2022 greenhouse gas (GHG) emission report from the bank’s loan and investment portfolio under the Infrastructure and Project Financing (IPF) division.
The report was made public as part of Nabil Bank’s commitment letter as a signatory to the Partnership for Carbon Accounting Financials (PCAF) in 2021.
The IPF portfolio includes a variety of investments and loans to businesses in industries such as energy, cement, airlines, telecommunications, and others. Under the IPF division, the bank’s Sustainable Banking vertical set out to measure emissions from the bank’s loan and investment portfolio.
As per the assessment of the portfolio’s carbon emission revealed that the total emissions for the year 2022 amounted 80,671.37 tonnes of carbon-dioxide equivalent. Simultaneously, investment on hydro and solar comprises carbon-dioxide emission avoided by 2131.81 tonnes.
“While this is a significant amount, we are actively working to reduce our carbon footprint and make our portfolio more sustainable,” said Gyanendra Prasad Dhungana, Chief Executive Officer of Nabil Bank. Stating that Nabil Bank is dedicated to building a sustainable future, he added, “We recognize that this requires collective action. We believe that transparency is essential in achieving our goals, as we are committed to providing regular updates on our progress towards a net-zero carbon footprint.”
Nabil Bank, Nepal’s first private sector bank, has pioneered financial service innovations and banking industry sustainability.
The bank’s sustainable banking unit is an approach to a new banking culture that stems from its desire to do responsible banking.
The bank chooses to be more sustainable in all of its actions, including its own operations and resource management, overall business activities, and CSR initiatives.
Furthermore, the bank encourages its employees to engage in sustainable practices both inside and outside the office, and it plans to gradually decarbonize its own operations using clean energy sources.
