Page 10 - NIBAF-Training Matters July - December 2022

Joint Program with IFC on

Pakistan Sustainable

Banking

SBP has been working with the International
Finance Corporation(IFC) on a project to

enable sustainable banking in Pakistan. An
important component of this project is to

support banks on Environmental & Social Risk
Management (ESRM) capacity building and
implementation. IFC leverages its global
knowledge and expertise in sustainable
finance to help banks improve their
Environmental & Social practices(E&S)
through capacity-building sessions focusing
on Green Banking Guidelines, IFC
Performance Standards, and other local
regulations supporting sustainable banking.
These sessions are envisaged to help
financial institutions identify E&S risks
associated with their clients or investees and
minimize the potential impacts from such
exposure on their lending and investment
portfolios to reduce financial risks and liabilities.
In addition to the improved management of E&S
risks, financial institutions are also encouraged
to capitalize on the business opportunities from
a growing cluster of sustainable businesses
such as renewable energy and carbon finance
to outperform their competitors and attract new
capital.
The first iteration of the TOT program was held
online from August 01-02, 2022 with
participation of 61 commercial banks’ Green
officers and State Bank Officers. Ms. Caroline
Bright – IFC Regional ESG Advisor, Mr. Riaz
Nazarali Chunara – Managing Director NIBAF
and Mr. Yaseen Anwar – former Governor SBP
/Senior Advisor to IFC Sustainable Banking
Project were guest speakers of the event and
discussed importance of ESG and sustainable
financing. Team of professional Environmental,
health & safety Consultants & subject specialists
including Dr. Afifa Raihana – Senior
Environmental Specialist at IFC, Ms. Desiree
Nathan and Mr. Ng Hon Seng discussed
different aspects of Pakistan sustainable
banking, environmental laws & regulations, IFC
performance standards and ESRM
implementation strategy.