In line with global development and response to the environmental degradation, financial sector in Bangladesh should play an important role as one of the key stakeholders. Standard Bank Limited, as part of financial sector of Bangladesh, is also responsible for safeguard of the environment.
Decades of careless handling of environment lured by unchecked industrial competition have let loose a Pandora’s Box, known as “Global Warming”. Global warming also called as “Green House Effect” is a global issue that calls for a global response. The warming is the effect of certain man-made gas emissions such as carbon-di-oxide, methane, nitrous oxide and hydro-fluro carbon are found responsible for distortion of balance in the environment and climate changes. Green Banking is a component of the global initiative by a group of stakeholders to save environment. Bangladesh is one of the most vulnerable countries to climate change. In line with global development and response to the environmental degradation, financial sector in Bangladesh should play an important role as one of the key stakeholders. Standard Bank, as part of financial sector of Bangladesh, is also responsible for safeguard of the environment. From Banker’s point of view Green Banking calls for banking business in such areas and in such a manner that helps the overall reduction of external carbon emission and internal carbon footprint. To aid the reduction of external carbon emission, bank should finance green technology and pollution reducing projects. Internally the banking operations have considerably increased the carbon footprint of banks due to their massive use of energy e.g. lighting, air conditioning, electronic / electrical equipment, IT, high paper wastage, lack of green buildings etc. Therefore, to adopt green banking, bank should adopt technology, process, and products which result in substantial reduction of their carbon footprint as well as develop sustainable business.
Green Finance by SBL
During 2014, the Bank financed in 1 project having ETP and disbursed Tk. 10 Million, 1 project in Bio-gas where disbursed Tk. 0.25 Million and 730 projects of solar panel where disbursed Tk. 39.02 Million. We encouraged paperless banking by expanding online banking, mobile banking and internet banking, use of e-mail and introduction of IP message system. Added deposit alert to mobile banking solution (MBS). Besides, the bank’s official participated into training courses on the topics of green banking and impact on environment conducted by Bangladesh Bank.