Permanent TSB has launched a new sustainability strategy that includes commitments to introduce a range of sustainable finance products, reduce the bank's carbon emissions and maintain a nationwide branch presence in communities throughout Ireland.

The bank has also joined the global Task Force on Climate-related Financial Disclosures (TCFD) network to increase transparency and hold the bank accountable for meeting its sustainability and climate action targets.

The network is made up of more than 2,700 major companies worldwide and over 30 in Ireland.

Eamonn Crowley, Chief Executive of Permanent TSB said the global climate crisis has elevated the sustainability agenda not only in Ireland, but around the world.

"We see it in the continued shift in consumer trends and the growing demand for sustainable products and services - not just in the financial services industry, but more broadly across other sectors," he said.

"Now more than ever businesses, such as Permanent TSB, have a significant role to play in supporting our stakeholders to navigate the green transition and to embrace the opportunities that sustainability brings," he added.

PTSB said the new sustainability strategy comprises of four main pillars: addressing climate change, elevating the bank's social and community impact, enhancing Permanent TSB’s culture and creating an organisation that is fit for the future.