Standard Bank Limited has recently launched its first-ever sustainability report.The bank made use of the GRI Standards, a set of ESG-linked guidelines for reportage that is outlined by the non-profit organization Global Reporting Initiative.
Standard Bank chairman Kazi Akram Uddin Ahmed attended the launching ceremony as chief guest while managing director and CEO Khondoker Rashed Maqsood, additional managing director & CRO Md Touhidul Alam Khan Khan and Chief Financial Officer Md Ali Reza along with other members of the Sustainability Reporting Committee of the bank were also present among others.
“Our Bank has been demonstrating its commitments to social causes through various CSR programs in the field of education, health, disastermanagement, culture, games and sports. Underprivileged students of the country also received stipends under the education support program of the Bank” said Kazi Akram Uddin Ahmed, chairman of the bank on the occasion of unveiling program of first ever sustainability report of Standard Bank Limited.
Our Bank always endeavors to assist the integration of sustainable practices in alignment with Government’s target to achieve the Sustainable Development Goals (SDGs)”, added by the Chairman of the Standard Bank.
Sustainability reporting is being a common practice of 21st Century which was not the case before. Earlier, this practice was limited only to green and community-oriented organizations, but now, it has become the best practice among the leading organizations worldwide. Among differentstandards for sustainable reporting, Global Reporting Initiatives (GRI) holds the supreme position in terms of usage by its stakeholders. Around 75% of G250 companies report on sustainability report using GRI Standards.
Khondoker Rashed Maqsood, Managing Director & CEO of the bank opined, “Standard Bank Limited, a bank with long banking experience, has been taking prudent strides towards ensuring sustainable banking, believing that banking and investment practices are not just making profit but also prioritizing on transparency and social responsibility”.
In reply of a question, Md Touhidul Alam Khan, Chairman of Sustainability Reporting Committee (SRC) of the bank answered, “For Standard Bank Limited, it is a great moment to bring out its first ever Sustainability Report with the most used global reporting standard, GRI. Sustainability reporting is a concrete tool that reinforces transparency of the private sector commercial banks, and it builds an enabling environment towards achieving Sustainable Development Goals (SDGs)”.
“Through this report, the management of the bank has taken a very responsible step towards taking care of triple bottom line (profit, people, and planet) or in other way it may be said that the bank has proven its commitment toward a sustainable future”, mentioned by Khan who is also the first Certified Sustainability Reporting Assurer (CSRA) in Bangladesh.
