SBP launches ESRM implementation manual.

KARACHI -- State Bank of Pakistan (SBP) Governor Jameel Ahmad has launched the Environmental and Social Risk Management (ESRM) Implementation Manual for banks and development finance institutions (DFIs), a press release said on Wednesday.

The SBP governor launched the manual at a Sustainable Banking Conference held in collaboration with the InterAnational Finance Corporation (IFC).

While delivering the keynote address, the SBP governor remarked that the manual has been launched as part of the central bank'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 the SBP's Green Banking Guidelines (GBGs),' he said.

He highlighted that the conference was an effort to spread awareness about the impact of climate change and environmental degradation on the financial sector of Pakistan and a step towards the SBP's endeavour to reduce the vulnerability of the financial...