Commitment to sustainable reporting culture

is key to Bangladesh banks' transparency

and efficiency

Sustainability reporting is mandatory for banking institutions in Bangladesh considering

environmental and socio-economic and governance issues

 Banks’ commitment to a healthy sustainable disclosure practice is good for everyone

 Bangladeshi banks are bound by policies to incorporate ‘green banking’ initiatives in
their agenda
 Majority of banks do not practice sustainability reporting

A sustainable world economy is essential for society, and a bank, as responsible corporate
citizen, needs to devise a long-term strategy towards sustainable financing activities through
various effective initiatives. The question is, “How can it be started?”

Banks must be committed to sustainability reporting

Changes are required at the organisation level to transition into a sustainable economy. Goals
need to be set and the way forward is for banks to drive the change. Sustainability reporting
refers to the method that incorporates an organisation’s environmental and socio-economic
performance and practice of disclosure, assessment, transparency, accountability to internal and
external stakeholders and performance towards sustainable development goals (SDGs).
Sustainability reporting presents an opportunity to improve  performance and commitment to
sustainable development.

Making profit is the reason why banks offer services but this should not be fulfilled at the
expense of the environment. Hence, consciousness about the environment is a must for the
banking sector and it necessitates the preparation of sustainability reporting. With an
intermediary role in the economy, banks have potentially extensive roles towards the attainment
of sustainable development. Banks make the spatial transformation of money in terms of time,
location, risk, and scale while impacting a nation’s economic development both quantitatively
and qualitatively by influencing the direction and pace of a nation’s economic growth. However,
responses from the banking sector to these new-found challenges of sustainability have come
more slowly than those from other sectors.