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

KATHMANDU:Laxmi Sunrise Bank published the carbon emission report for auto and residential loans up to the fiscal year 2079/80. 

The bank has joined the Partnership for Carbon Accounting Financials (PCAF) since 2021. 

PCAF is a multinational alliance of financial institutions. Which assesses and publishes information on greenhouse gas (GHG) emissions from financial institutions' loan and investing sectors.

According to Laxmi Sunrise's disclosed figures, a total of 15 thousand 965.11tonnes of carbon dioxide equivalent (tCO2e) were emitted by the bank's automotive and home loans over the previous fiscal year (till 16 July 2023).Vehicle loans contributed 3,644.51 tCO2e carbon emissions, whereas home loans produced 12,320.60 tCO2e carbon emissions.

The bank has taken steps to reduce the impact of TCOE emissions, including identifying its carbon footprint. In addition to boosting investment in various green projects, it has taken steps to improve access to its digital platform, operate digital savings accounts, and encourage its customers to adopt sustainable practices.