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Green Banking Policy
Introduction
Eastern Bank Limited is committed to the needs of its customers, employees, shareholders, and communities. We believe that our long-term success and existence is directly linked to the health and quality of the natural environment. We endeavor to continuously improve our environmental performance, reduce greenhouse gas emissions, carbon footprint, and prevent pollution by adopting and promoting renewable resources, resource efficient products, community outreach, awareness and education.
Policy statements
Eastern Bank Limited and its subsidiaries will comply with all laws and regulations related to environmental protection, green banking other requirements.
The bank shall consider ‘Environmental Risk’ as a core risk for its business and shall develop effective procedures for management of environmental and social risks in its lending activities.
The bank shall support business activities that contribute to the protection and improvement of the environment by providing specialized 'green' products-offered under comparatively more favorable terms and conditions; specifically in the area of renewable energy, energy saving, organic farming, biodiversity conservation, green chemistry, green transportation, water and waste management, environmental restoration, eco-tourism and agritourism.
The bank shall support economic activities of the flood, cyclone, and drought prone areas with soft terms of business and shall create “Climate Risk Fund” to support contingencies in adverse climatic conditions.
The bank recognize the environmental burden caused by consumption of resources and release of waste from own business activities and aim to protect the environment through resource recycling as well as efficient use of energy and resources. We are committed to continually minimizing our operational environmental impacts, by monitoring environmental performance; setting improvement targets; and by implementing and evaluating environmental management program that save energy and water, manage waste, recycle materials, reduce business trips, and promote green procurement and providing wide range of e-banking services.
The bank shall provide in-house environmental education and support and promote environmental protection activities of individual directors and employees both during and outside working hours.
The bank shall inform its customers, shareholders, and the general public about the targets and the performance of its environmental actions that collectively aim at improving the quality of environment and climate.
The bank shall support initiatives of third parties i.e. non-profit agencies, organizations or institutions that generate added value by benefiting both humans and the environment.
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