NMB Bank joins global call for binding Treaty to end use of fossil fuels

KATHMANDU: NMB Bank Limited, along with a group of seventeen leading banks from the Global Alliance for Banking on Values (GABV) have endorsed the Fossil Fuel Non-Proliferation Treaty initiative. The Fossil Fuel Non-Proliferation Treaty Initiative is a global effort to meet the goals of the Paris Agreement by fostering international cooperation to accelerate a transition to clean energy for everyone, end the expansion of fossil fuels and phase out existing production. They are at the forefront of a growing number of financial institutions joining the call for the Treaty and taking a significant step forward in a global effort to address the root cause of the climate crisis – the production and use of oil, gas and coal.

“This step demonstrates our dedication to advancing climate action and aligning with the goals of the Paris Agreement, enhancing our efforts in Carbon Emissions disclosure and management. We are aware that climate change is one of the most pressing issues of our time, and we are committed to being part of the solution.”, said Sunil K.C., CEO of NMB Bank.

This move promises a brighter, cleaner future and signifies the Bank’s shift towards sustainable practices that prioritize environmental well-being and long-term sustainability. Reduced reliance on fossil fuels means cleaner air, water, and land, directly benefiting the health and quality of life. It provides a framework for sustainable development, fostering economic growth and stability in a green economy.

‘The Banker Magazine’ of The Financial Times, London, has awarded NMB Bank with Bank of the Year Asia award 2021. The bank has also been awarded with Bank of the Year in 2017, 2018, 2020 & 2021. NMB Bank is currently providing its services through 201 branches, 186 ATMs and 11 extension counters.