Pakistan's leading digital microfinance institution, Mobilink Bank has
reaffirmed its commitment to fostering gender-responsive climate finance at the
Conference of the Parties (COP28) held in UAE. Representing the bank, Chief
Operating Officer Haaris Mahmood Chaudhary addressed an engaging panel on the
importance of gender-intentional green financing for combating climate change.
Also Read: Mobilink Bank carries the day at Veon's Ignite Awards held in Istanbul
Mobilink Bank is part
of the VEON group, a global digital operator that provides converged
connectivity and online services across seven countries. As part of its digital
operator strategy, VEON is transforming people's lives by creating
opportunities for increased digital inclusion and driving economic growth
across countries home to more than 8% of the world's population. Mobilink
Bank's policies align with VEON's strategy, underpinned by a steadfast
commitment to sustainability, diversity & inclusion, while fostering
digital entrepreneurship, greater digital skills, literacy, and new job
opportunities in its communities.
The event reinforced
Mobilink Bank's standing as an environmentally conscious and responsible
business entity, besides firmly establishing Pakistan on the map of emergent
global discourses on climate finance. The bank is among the first movers of
climate finance in the country and has invested over PKR 1.6 billion in green
financing, primarily focusing on loans for solar applications in agriculture to
promote renewable energy.
During the panel
discussion, Haaris Chaudhary emphasized Mobilink Bank's role in fostering
gender inclusivity in climate finance, primarily within the agricultural
sector, by providing women with resources, knowledge, and decision-making
authority under its flagship Women Inspirational Network (WIN) program. The
bank has extended financial savings and insurance products to more than 140,000
women in the microfinance sector, helping them prepare for and navigate the
challenges associated with climate change and economic uncertainty.
He further stated that
Mobilink Bank allocated subsidized financing exceeding PKR 12 billion to over
66,000 female customers and continues to provide digital, financial, and
Agritech solutions to farmers, enhancing sustainable agricultural practices.
Also Read: Mobilink Bank secures Best Bank for Inclusion Award at PBA 2023
Sharing his thoughts
regarding the session, Haaris Chaudhary said, "Representing Pakistan at
the COP28 was a unique privilege. As a responsible organization, we aim to
drive sustainability through a firm commitment to green financing and deploying
a gender-intentional lens for fostering financial inclusion and resilience for
all. Recognizing Pakistan's vulnerability to climate change, Mobilink Bank
remains at the forefront of empowering everyone in the true sense. Women- a
highly influential, yet underserved segment, are more susceptible to the
drastic effects of climate change, and we aim at narrowing the gender gap to
provide inclusive opportunities for them for holistic economic
development."
Haaris affirmed the
bank's commitment to expanding its green financing loan further in the coming
years to accelerate the efforts for combating climate change. The strategy
entails promoting clean-energy products to mitigate carbon emissions,
incorporating low-carbon agriculture into lending products, providing
climate-related disaster insurance for farmers, and facilitating Sharia-compliant
financing for solar panels.
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