The Bangladesh Bank has issued a new guideline on Corporate Social Responsibility (CSR) to focus more on healthcare and environmental issues.
The guideline, issued on Monday is meant to ensure a sustainable development of the country.
According to the new guideline, all scheduled banks and non-banking financial institutions (NBFIs) are allowed to spend a minimum of 30% of the total CSR funds to facilitate healthcare support, which was earlier 20%.
The guideline mentioned: “The Bangladesh Bank (BB) and other banks/NBFIs are trying to participate actively in an environment-friendly economy to protect the environment due to rapid climate change.”
The spending for the environment and climate change migration and adaptation has been increased to 20% from 10% of their CSR budget.
Expenditure for the education sector, however, remained unchanged at 30% of the total CSR funds.
Bangladesh Bank also said that the country is one of the most vulnerable in the world from global warming and climate change.
Health, energy, water supply, sanitation, industry (mining and construction), transport, trade, tourism, agriculture, forestry, fisheries, environmental protection and ecosystem, goods and services, and food security are the main development sectors of the country that are directly affected by climate change.
Earlier in December 2013, the central bank issued the first CSR guideline for the banks and NBFIs.
