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Prime Bank wins PLATINUM Award from BD

December 3, 2019 9:22 pm

Prime Bank Limited, a leading private sector commercial bank has been awarded with PLATINUM ranking in this year on their Sustainability Report. The bank has won this award for preparing the Sustainability Report for the year 2018.

The award was distributed in the Sustainability Reporting Awards (SRA)-2019 ceremony held recently in Bali, Indonesia, jointly organised by National Centre for Sustainability Reporting (NCSR), Indonesia in collaboration with the Institute of Certified Sustainability Practitioners (ICSP).

This year’s event was attended by 50 companies and came from Malaysia, Singapore, the Philippines, Indonesia, Bangladesh and other Asian countries. The award event, which has been held for the past 15 years, aims to improve the quality of corporate sustainability reports in Asia. The assessments for awards are carried out by Judges and Assessors who are Certified Sustainability Practitioners from Institute of Certified Sustainability Practitioners (ICSP) and academicians. 

On that occasion, the award was handed over by the Minister of Research and Technology of the Republic of Indonesia, Professor Bambang Permadi Soemantri Brodjonegoro who conveyed the importance of the role of corporations in achieving the National SGS’s. 

“Innovation does not have to be an extraordinary finding that can win a Nobel award, it doesn’t have to be like that. It can also be findings or innovations that can help people in general,” Bambang said at the Asia Sustainability Reporting Rating (ASRRAT) in Westin Nusa Dua Resort, Bali on Saturday. 

Bambang referred to the Sustainable Development Goals (SDGs), 17 of the goals proclaimed by inter-governmental countries including Indonesia at the UN resolution issued on October 21, 2015. All of these goals are expected to be achieved by 2030.

Meanwhile, the circular economy is a new economic model that emphasizes the concept that the resulting product can be reused for other products.The concept of a circular economy, according to Bambang, is one method that can be used to ensure environmental sustainability, Bambang said.

Michele Lemmens, Regional Head ASEAN Hub of Global Reporting Initiative (GRI), the Netherlands has presented keynote paper in the ceremony.

“It is highly remarkable achievement in Asia that most of the banks & financial institutions are preparing sustainability report as per GRI method. That means, the owners of the organizationsare being realized the importance of this report on which many non-financial information include here for future decision which are the most important for the stakeholders.” Mentioned the keynote. 

Professor Dr. Anak Agung, Chancellor of Udayana University and Dr. Ir. Subandi, Deputy Minister of National Development Planning of Indonesia also presented papers on sustainability on the occasion.

Sustainability Reporting is communication on the economic, environmental and social policies, impacts and performance of an organization and its products in the context of sustainable development.

Md. Touhidul Alam Khan, FCMA, CSRA presented his paper on SDGs on Bangladesh’s perspective as a panellist in corporate talk of SDGs. Khan is a Certified Sustainability Practitioner (CSP) and first Certified Sustainability Reporting Assurer (CSRA) in Bangladesh who has been speciallyinvited by NCSR& ICSP jointly to participate in this Plenary Session in the international conference as a speaker. Touhidul Alam Khan is Deputy Managing Director of Prime Bank and fellow of Institute of Cost & Management Accountants of Bangladesh (ICMAB) who received the “PALTINUM” award in favour of Prime Bank in the august ceremony from the Minister of Research and Technology of Indonesia.

Regarding the progress and implementation status of SDGs in Bangladesh, Touhidul Alam Khan explained in the conference in reply of questions from the audience in QA session, “Bangladesh together with other world leaders adopted the 2030 Agenda for Sustainable Development at the United Nations General Assembly in New York on 25 September 2015. This is a global commitment towards a more sustainable, resilient and inclusive development, with 17 Sustainable Development Goals (SDGs) and 169 targets.”

Kristin Koleen D. Palaganas, SM Investments from the Philippines and Louise G. Pessireron from Kaltim Prima Coal of Indonesia were also presented papers on SDGs in their respective fields. 

Touhidul Alam Khan as representative of Bangladeshhas given some recommendation in his presentation, “localization/customization of SDGs and private sector engagement can play a vital role to achieve the SDGs not only in Bangladesh but all over the world. And, first of all, awareness needs to be created at all levels in turning 2030 Agenda from a global vision into a local reality. 

And local communities and stakeholders, who must know individual and collective needs and capacities best, are critical partners in implementing and realising the goals. Targets and indicators of SDGs for contextualising the 2030 Agenda need to be appropriately synchronised with local development plans and strategies with utmost importance”.

JongkiDjujinoWidjaja of Ernst & Young of Indonesia, Collin LegardeHubo from UA&P Centre for Social Responsibility of the Philippines were presented the papers on climate change. 

Prime Bank has also obtained “Materiality Disclosure Icon” from Global Reporting Initiative (GRI), the Netherlands. The Sustainability Reports of Prime Bank has already been uploaded in GRI website.

Sources : https://bangladeshpost.net/posts/prime-bank-wins-platinum-award-from-bd-18673

GRI
Global Reporting Initiative
CSRA
Certified Sustainability Reporting Assuror
Standards
GRI Standard & AccountAbility (AA1000)
NCSR
National Center for Sustainability Reporting