Pakistan: JS Bank Chair for Sustainable Finance and Fintech Launches Policy Briefs at BNU, Advancing Climate Finance Initiatives
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The JS Chair for Sustainable Finance and Fintech at Beaconhouse National University (BNU) hosted the Policy Briefs Launch Event on Monday 23, December, focusing on sustainability, climate finance, and the future involvement of BNU students in climate-related initiatives in collaboration with JS Bank.
The event highlighted BNU’s vision of becoming a green institution and fostering collaboration between students and JS Bank in sustainability efforts.
The JS Bank Chair for Sustainable Finance and Fintech at Beaconhouse National University (BNU) launched its Policy Briefs on December 23, 2024. The event underscored BNU’s commitment to sustainability, with a focus on the role of students in supporting climate finance solutions in collaboration with JS Bank.
Dr. Moueed Yusuf, Vice Chancellor of BNU, highlighted the university’s ongoing efforts to integrate sustainability into academic programs and the need for students to become active participants in climate finance initiatives. Dr. Jamshed Ali, Asst. Prof. and JS Bank Chair on Sustainable Finance and Fintech at BNU, introduced the Climate Policy Briefs, shedding light on the critical gap in climate finance and Pakistan’s pressing need to boost financing efforts to meet international climate goals.
During the event, the global investment in climate finance was discussed, with $1,550 billion spent by public and private sectors. It was highlighted that there is an 80% gap in climate financing between developed and developing countries. Dr. Jamshed stressed that Pakistan needs to increase its climate financing efforts by up to eight times to meet its climate goals.
The session also covered the rapid growth of Green Bonds, now valued at $3 trillion globally, and the emerging role of Sustainability-Linked Bonds in driving sustainable projects. Mr. Syed Jafar Raza, Group Head – Investments at JS Bank, stated, “Tackling climate change is a shared responsibility. Public and private sectors must collaborate, as no single entity can solve this challenge alone. Together, we can drive sustainable change for the future.”
Dr. Hafiz Pasha, Professor Emeritus, School of Management Sciences, spoke on Pakistan’s vulnerability to climate change and emphasized the urgency for a five-year climate adaptation and mitigation plan. He also stressed the importance of creating inclusive financial structures and using fiscal tools to incentivize investments in green and sustainable projects.
The JS Bank Chair for Sustainability and Fintech, established in collaboration with Zindigi, has made significant strides in promoting research, policy advocacy, and education in sustainable finance. Key accomplishments include the completion of policy briefs on Green Bonds and Sustainability-Linked Bonds, seminars on sustainable finance, and the upcoming introduction of a sustainable finance course in the Spring 2024 semester.
This collaboration reflects the shared vision of cultivating environmentally conscious leadership in Pakistan’s financial sector and promoting sustainable, climate-friendly solutions.
Reference Link:- https://propakistani.pk/2024/12/27/js-bank-chair-for-sustainable-finance-and-fintech-launches-policy-briefs-at-bnu-advancing-climate-finance-initiatives/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
