The Daily Star (TDS): What inspired EBL to launch the Climate Change Action Awards 2025, and what impact do you hope it will have?

Ali Reza Iftekhar (ARI): The EBL Climate Change Action Awards 2025, initiated by Eastern Bank (EBL) in collaboration with the German, French, and Danish embassies, aims to recognise and celebrate exceptional contributions toward addressing climate change. This award acknowledges the efforts of individuals, businesses, and organisations that have demonstrated innovation, resilience, and leadership in tackling climate challenges. The award categories include Green Manufacturing, Energy Efficiency, Climate-Smart Agriculture, Climate Adaptation and Resilience, and Climate Education and Policy Advocacy.

As a lender, we believe that by honouring and financing sustainable initiatives, we can inspire and motivate more actors to join the fight against climate change in Bangladesh. We are committed to financing more and more green and sustainable projects to drive impactful change.

TDS: How do you see this award shaping Bangladesh's sustainability landscape?

ARI: The EBL Climate Change Action Awards 2025 is expected to significantly contribute to the broader climate change initiative by promoting sustainable practices and recognising exemplary efforts across various sectors. The award aims to achieve several goals, including fostering innovation in green manufacturing, encouraging energy-efficient practices, supporting climate-smart agriculture, strengthening climate adaptation and resilience, and advancing climate education and policy advocacy.

By highlighting and celebrating these achievements, we hope to inspire others to embrace sustainable practices, drive positive environmental impact, and enhance community resilience against climate challenges. Ultimately, the award aims to create a greener, more resilient Bangladesh by fostering a culture of sustainability across industries and communities.

TDS: Beyond this award, what steps is EBL taking to drive real change in climate action?

ARI: As a leader in sustainable finance, EBL remains steadfast in its commitment to mitigating the impacts of climate change through strategic initiatives aligned with global best practices. The bank integrates environmental and social risk management within its operations while advancing green finance, carbon accounting, and emission reduction programmes.

Since 2023, EBL has been measuring Scope 3 emissions from its financed portfolio and is now broadening its assessment to include Scope 1 and Scope 2 emissions from internal operations and supply chain activities. To further mitigate direct emissions, EBL has partnered with DHL's Go Green Plus initiative, utilising sustainable aviation fuel (SAF) for document transportation, achieving a 30% reduction in carbon emissions. Additionally, the bank is developing a decarbonisation roadmap to align with and exceed Bangladesh's national climate targets.

In collaboration with expert consultants, EBL is integrating a Climate Risk Assessment Module to assess both physical and transitional climate risks, ensuring that its risk management framework aligns with global sustainability standards. This initiative will also ensure compliance with IFRS S1 sustainability and IFRS S2 climate-related financial disclosure requirements.

Furthermore, EBL is introducing Green Deposit and Asset Products to channel funds into environmentally responsible projects. These products will reinforce the bank's leadership in green finance, positioning EBL as a pioneer in sustainable banking. By embedding sustainability across its operational framework, financing strategies, and long-term objectives, EBL continues to enhance its climate mitigation efforts and drive meaningful impact in Bangladesh's journey toward a low-carbon future.