header banner
ECONOMY

Laxmi Sunrise Bank publishes comprehensive carbon emission disclosure for FY 2079/80 BS

KATHMANDU, April 15: Laxmi Sunrise Bank has published its comprehensive Carbon Emission report up to FY 2079/80 BS for motor vehicle loans and mortgages asset class.  The bank has been a signatory to the Partnership for Carbon Accounting Financials (PCAF) since December 2021.
By Republica

KATHMANDU, April 15: Laxmi Sunrise Bank has published its comprehensive Carbon Emission report up to FY 2079/80 BS for motor vehicle loans and mortgages asset class.  The bank has been a signatory to the Partnership for Carbon Accounting Financials (PCAF) since December 2021. 


According to a statement issued by the bank, the report reveals that the motor vehicles and residential properties financed by Laxmi Sunrise Bank have led to emissions totaling 15,965.11 tonnes of carbon dioxide equivalent (tCO2e) up until the last fiscal year (up to 16 July, 2023). Specifically, motor vehicle loans accounted for 3,644.51 tCO2e, while mortgage loans were responsible for 12,320.60 tCO2e of emissions.


Related story

Nepal facing consequences of carbon emission


PCAF is a global partnership of financial institutions dedicated to developing and implementing a harmonized approach to assessing and disclosing the greenhouse gas (GHG) emissions associated with loans and investments. The statement added that this rigorous analysis is a crucial step in the bank's journey towards understanding and mitigating its environmental impact. 


The statement reads, “With the identification of its carbon footprint quantity, Laxmi Sunrise is now stepping up to taking concrete action. The bank's multifaceted approach includes financing green projects, enhancing digital platforms for better accessibility and efficiency, developing fully-digital saving products and engaging with clients to support their transition towards more sustainable practices.”

Related Stories
ECONOMY

Laxmi Bank and Sunrise Bank Limited to start joint...

ECONOMY

Laxmi and Sunrise Capital sign merger deal

POLITICS

NC pledges zero carbon emission in Nepal by 2045

SOCIETY

Environment minister stresses minimizing CO2 emiss...

SOCIETY

The year 2022 records the highest amount of carbon...