KARACHI: The State Bank of Pakistan(SBP) in collaboration with International Finance Corporation organized ‘Sustainable Banking Conference’ here on Wednesday.
Speaking on this occasion, IFC Regional Director for the Middle East, Pakistan and Afghanistan Mr. Khawaja Aftab Ahmed said that launch of the Environmental and Social Risk Management (ESRM) Implementation Manual marked a significant step towards promoting sustainable banking practices in Pakistan.
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During his address, Governor State Bank Jameel Ahmed said Pakistan was one of the most vulnerable countries to the impacts of climate change and this Environmental and Social Risk Management manual had been launched as part of SBP’s ongoing efforts to promote green banking in Pakistan.
The State Bank of Pakistan, it may be recalled, has been playing a crucial role in successful implementation of green banking initiatives and achieve sustainable financing objectives in the country since 2009.
Since 1990s, the federal government has taken various measures to address environmental concerns including new legislation and institutions such as the Pakistan Environment Protection Council. The Ministry of Climate Change (MoCC), formed in August 2017, is a dedicated ministry in the Government of Pakistan concerned with climate change in the country. The government launched the ‘Clean Green Pakistan Movement’ on 8 October 2018 to help create a clean and green environment of Pakistan. The country has in place a number of acts, rules, regulations and policies to protect the environment and mitigate the adverse impact of climate change in Pakistan.
