Kathmandu – Laxmi Sunrise Bank has published its Carbon Emission Report for Fiscal Year 2080/81 (2023/24), reinforcing its commitment to environmental sustainability and transparent climate reporting. The disclosure forms part of the Bank’s broader ESG (Environmental, Social, and Governance) strategy, aligning with global best practices in responsible banking.
The report quantifies the carbon footprint from key sectors of the Bank’s lending portfolio using the globally recognized Partnership for Carbon Accounting Financials (PCAF) methodology. For the reporting period, total financed emissions amounted to 202,013.42 tonnes of CO₂ equivalent (tCO₂e).
The breakdown of financed emissions reveals that business loans accounted for the majority, with emissions totaling 190,293.42 tonnes of CO₂ equivalent (tCO₂e). This was followed by motor vehicle loans, contributing 1,528.98 tCO₂e, and project finance (excluding hydropower), which added 705.56 tCO₂e.
Offsetting this impact, the Bank’s investments in hydropower projects contributed to an estimated avoidance of 20,347.11 tCO₂e, highlighting its support for clean, renewable energy development.
In alignment with Nepal’s national target of achieving net-zero emissions by 2045, Laxmi Sunrise is accelerating efforts in Green Finance, energy-efficient loan products, and environmental risk management. Internally, it continues to promote the 3R principles—Reduce, Reuse, and Recycle—across branches and customer touchpoints.
A key part of the Bank’s environmental action plan is "Mission 10K", an ambitious initiative to plant 10,000 trees within the fiscal year. As of now, the Bank has planted over 7,500 trees, exemplifying its belief that climate pledges must be backed by tangible action.
Looking ahead, the Bank plans to expand its carbon accounting framework to include a broader range of asset classes. This move will enhance transparency and reinforce accountability across its entire financing ecosystem.
“These efforts are central to our long-term sustainability strategy,” said a Bank spokesperson, “as we continue to lead in responsible banking and contribute meaningfully to a greener, more climate-resilient future.”
???? Read the full Carbon Emission Report here:
https://www.laxmisunrise.com/pcaf-partnership-for-carbon-accounting-financials-report-2023-2024/
