Kathmandu. Laxmi Sunrise Bank has released its carbon emissions report for the fiscal year 2080/81 BS. It reaffirms the Bank’s commitment to environmental protection and climate transparency. The report is part of the bank’s broader approach to sustainability as part of an initiative to adopt global practices of responsible banking.
The report, prepared in accordance with the Carbon Accounting Financial (PCAF) system, determines the magnitude of the carbon footprint associated with key sectors of the bank’s debt portfolio. Total emissions from the evaluated portfolios amounted to 202,013.42 tonnes (TCO2I) in that fiscal year.
According to the portfolio, trade loans are 190, 293.42 TCO2E, project finance (excluding hydropower) 705.56 TCO2E, vehicle loans 1,528.98 TCO2E and home loans 9485.46 TCO2E.
Similarly, the bank’s investments in hydropower projects contribute to curbing estimated carbon emissions of 20,347.11, further emphasizing the Bank’s commitment to clean and renewable energy solutions.
In line with Nepal’s net zero emission target by 2045, the bank has been expanding its efforts such as green finance, energy-utilization loans and environmental risk management. In addition, the bank has been promoting 3R approaches (3R-reduce, reuse and recycle) in its operations and customer service systems and practices.
Under this scheme, the bank has also launched ‘Mission 10000’, a bold initiative to plant 10,000 trees in the current financial year. About 7,500 trees have been planted so far. This further strengthens the Bank’s belief that its commitment to climate change to real, measurable action.
Continuing this, the bank aims to include additional credit categories to ensure greater transparency and accountability in the measurement of its carbon emissions in the future. These actions have become an integral part of Laxmi Sunrise Bank’s sustainability strategy.
