Faced the results of sudden climate change has been forced to closely examine the challenges in the face of opportunities as an important axis to achieve its future. This is an important trip that puts pressure on multiple stakeholders to help the country achieve the target of sustainable development purpose (SDG).
Government and private banks are among those who are united to develop new structures in the fight against the negative consequences of climate change.
In the words of Zafar Masood, chairman of the Pakistan Banks Association (PBA), the global climate is “not limited”, note the mutual dependence of the international community facing this threat.
Banks’ challenges include a general pressure to cooperate for energy protection, and renewable energy, and renewable energy, and a general pressure to lift Pakistan’s green economy, and a common pressure focused.
Internally, within the banks, there is rapid exchange to online solutions to meet the needs of consumers, which is a step towards eliminating the use of paper -based processes. Similarly, the rapid expansion of the use of information technology in banks has laid a strong foundation for electronic networking at the workplace in the coming hours.
Other timely changes, such as the introduction of ‘green methods’ among the standards of new projects of new projects, have potentially forced new lenders to rebuild their plans. This is quite the opposite of the days when potential consumers discuss loans from banks for new projects, especially focusing on their balance sheets as the basis of negotiations.
Focus changed by Pakistani banks is widely synchronized with new national measures. It is also worth noting that the inclination of banks moving towards green is eventually helping to promote Pakistan’s international promises.
Pakistan’s interest rate is now almost half that two years ago, with fresh loan measures to help individual consumers benefit from climate change.
Interference in agriculture and its related areas will be the basis for lifting Pakistan’s food safety – which is an important factor in the country’s march toward development. According to this purpose, Pakistani banks have begun to integrate green finance methods in their lending departments to attract large size investment in the major agriculture sector. By turning to the climate of the climate, banks are rapidly going to the area that provides equal opportunities for corporate investors and small farmers.
An example standing in this area for corporate consumers is the Green Corporate Initiative (GCI), which is a mutual cooperation plan between banks and the Special Investment Facility Cell (SIFC) that at least 50,000 Corporate investment in farming projects in acres of land is ready to attract. Potential fields in the Cholistan region. The ultimate target is to transform the unmanned barren land into fertile and productive fields, and to identify a unique event in Pakistan’s history.
An important advantage of this move will bring the introduction of modern technologies, such as the latest and efficient irrigation systems, cultivation of modern, high production seeds, and cultivation of solar energy. For the purposes of generating energy. Once in place, this project will be for example for others to imitate in different areas of Pakistan. Pressure to increase corporate investment in agriculture also benefits the generation of major financial promises for research in agricultural research institutes, including the development of climate -related flexible seeds and the development of additional key inputs. –
Financial institutions and corporate investors are being encouraged by the construction, running and transfer (BOT) model, which is in accordance with investors and banks as their risk has been reduced and withdrawal has been carefully created. Other banks have launched the Green Office measures by integrating environmental and social factors in their work.
In addition, in the move to reach small farmers, banks have joined hands with the Prime Minister’s Youth Business and Agriculture Loan Scheme, which was designed to replace 1.2 million tube wells across Pakistan for solar powers. Is In the first phase, the program aims to change 100,000 tube wells that currently run on foam fuel.
Reducing the costs of these tube wells will allow farmers to use their savings for other agricultural inputs. The project will reduce the existing carbon impressions in Pakistan, as the change of these tube wells will reduce the emissions of at least five million metric tonnes of carbon annually.
Under the move, the financing of banks facilitates the financing of the annual zero subsidy rate for the closing consumers, which is paid for up to five years. Through this and other measures, Pakistan hopes that it will eventually succeed in reducing its rural poverty and strengthening its future economic growth.
Meanwhile, the journey to deal with climate change has turned the attention of banks to a major participation with the promotion of EV financing, which aims to make the public more affordable for two wheels and three wheels.
This is an important area for the future as its expansion will improve Pakistan’s overall environmental conditions, and will help meet the country’s national goals described in the first draft of the National Electric Vehicle Policy, which is zero to 2060. Targets emission.
This is a journey whose first step has been taken, banks have pushed forward to finance two wheels and three wheels. Targeting the future assembly and the final preparation of the Four Wheel EV in Pakistan will give a strong stimulus on the current focus on smaller vehicles.
More importantly, the move has marked an important step towards the creation of sustainable businesses that will help improve climate conditions. At the same time, the expansion of EV production in Pakistan also creates investment opportunities for businessmen, while employing employment opportunities for young, eligible professionals, from relevant technologies to such. The business aspects of the projects are trained in trained areas.
Although the journey ahead will be the least challenge, it is always the first step towards a larger purpose that should be appreciated for the severity of its land. The banks of Pakistan have already taken more than the first step in the right direction.
These measures play an important role in laying the foundation for similar efforts by other stakeholders in the private sector of Pakistan. The opportunities to successfully meet the challenge of climate change can be created financially via a profitable and sustainable model. The banks in Pakistan are just doing so.
Author is a Islamabad writer who is currently affiliated with the Pakistan Bank Association (PBA). He regularly writes on economic and development issues.
