Brac Bank has once again reinforced its leadership in sustainability with two prestigious recognitions from both global and local institutions.
The bank has secured the Number 1 position in Bloomberg’s ESG Rating 2024 among all Bangladeshi organizations, marking the third consecutive year it has been recognized, consistently ranking within the top ten organizations.
At the same time, Bangladesh Bank has named Brac Bank one of the top sustainable banks for the fifth consecutive year.
Bloomberg ESG recognition
Bloomberg’s ESG Rating 2024 placed BRAC Bank at the very top with an overall score of 3.8, comprising Environmental (1.76), Social (5.83), and Governance (3.07).
This positioned the bank ahead of IDLC Finance (3.51) and City Bank (2.64), outperforming even multinational companies operating in Bangladesh.
This recognition marks the third consecutive year Brac Bank has been featured among Bloomberg’s top 10 organizations for ESG Performance.
This global recognition is attributed to Brac Bank’s transparent disclosure of carbon emissions and governance benchmarks through its Sustainability and Impact Report 2024, IFRS S1 & S2 Report 2024, and Annual Report 2024.
The bank also leads the market in sustainable financing, with Tk50,215 crore in sustainable finance outstanding as of December 2024, representing 82% of its total asset portfolio.
The achievement further validates Brac Bank’s status as a frontrunner in the financial sector, underscored by its highest market capitalization among Bangladeshi banks ($1 billion), the largest international investor shareholding (32%), and the distinction of being the first company in Bangladesh to publicly disclose all scopes of its greenhouse gas (GHG) emissions.
Bangladesh Bank Sustainability Rating 2024
For the fifth consecutive year, Bangladesh Bank has recognized Brac Bank as one of the top sustainable banks in the country.
The bank also secured an “Excellent” rating from the central bank, alongside two other leading banks.
The central bank’s rating assesses institutions across five criteria: sustainable finance index, CSR activities, green refinance, core banking sustainability index, and banking services coverage.
Brac Bank stands out as the first Bangladeshi bank to publicly disclose Scope 1, 2, and 3 carbon emissions under the Partnership for Carbon Accounting Financials (PCAF) framework, and the first to publish independent IFRS S1 and S2 reports aligned with International Sustainability Standards Board (ISSB) standards.
In line with international best practices, the bank is also preparing to issue a Tk1,000 crore Social Bond, aligned with the International Capital Market Association (ICMA) Principles.
To drive sustainable financing nationwide, Brac Bank has established 50 Sustainable Finance Helpdesks across the country, ensuring accessibility to green credit solutions and refinancing.
Beyond banking, its CSR initiatives continue to create meaningful impact - 50,000 individuals benefited from health programs, 46,000 from climate-resilient agriculture projects, and 700 underprivileged women received higher education scholarships in 2024 alone.
Tareq Refat Ullah Khan, managing director & CEO (Current Charge) of Brac Bank, said: “These recognitions from Bloomberg and Bangladesh Bank affirm our deep-rooted commitment to responsible banking, transparency, and impact. At Brac Bank, we believe that ESG is not communities, protecting the planet or uplifting communities; it is also about building a future-ready institution that investors, regulators, coworkers, and customers can trust. We remain committed to scaling up green and inclusive financing so that our progress contributes meaningfully to the nation’s sustainable development goals.”
