SBP launches Environmental & Social Risk Management manual.

KARACHI -- State Bank of Pakistan organized a Sustainable Banking Conference, in collaboration with IFC, a member of the World Bank Group, today in a local hotel in Karachi. The objective of the conference was to create critically needed awareness related to climate change and sustainability within the financial sector and launch the Environmental and Social Risk Management (ESRM) Implementation Manual. The inaugural session of the conference was chaired by Governor, SBP, Mr. Jameel Ahmad.

The conference was attended by high profile dignitaries including, Mr. Khawaja Aftab Ahmed (Regional Director, IFC), Mr. Zeeshan Ahmed Sheikh (Country Manager for Afghanistan and Pakistan, IFC), Mr. Toshio Odagiri (the Counsul General of Japan in Karachi), Dr. Shamshad Akhtar (Chairperson, PSX Board), Mr. Yaseen Anwar (Senior Policy Advisor, IFC), Ms. Sima Kamil (Deputy Governor, SBP), presidents/CEOs of banks/DFIs, senior officials from Pakistan Banks Association, Sindh Environmental Protection Agency and other relevant stakeholders. During the conference, Governor, SBP, launched the ESRM Implementation Manual for banks and DFIs. While delivering the keynote address, Governor, SBP remarked that this manual has been launched as part of SBP's ongoing efforts to promote green banking in Pakistan. The ESRM manual is a procedural guide for the banks/DFIs to establish their environmental and social risk management systems, as advised in SBP's Green Banking Guidelines (GBGs).

Further, he highlighted that the conference was an effort to spread awareness on the impact of climate change and environmental degradation on the financial sector of Pakistan and a step towards SBP's endeavor to reduce the vulnerability of financial sector from such risks. He added that Pakistan is one of the most vulnerable countries to the impacts of...