Mobilink Bank Commits to Gender-Responsive Climate Finance at COP28 in UAE

Mobilink Bank Commits to Gender-Responsive Climate Finance at COP28 in UAE

Business

Pakistan’s leading digital microfinance institution, Mobilink Bank, recently reiterated its dedication to advancing gender-responsive climate finance at the Conference of the Parties (COP28) held in the UAE. Representing the bank at the conference, Chief Operating Officer Haaris Mahmood Chaudhary participated in a compelling panel discussion, highlighting the significance of gender-intentional green financing in the fight against climate change.

Mobilink Bank’s Role in VEON Group’s Digital Operator Strategy

As a part of the VEON group, a global digital operator spanning seven countries, Mobilink Bank aligns its policies with VEON’s overarching strategy. VEON aims to transform lives by enhancing digital inclusion and driving economic growth, encompassing over 8% of the world’s population. Mobilink Bank’s commitment is rooted in sustainability, diversity, and inclusion, fostering digital entrepreneurship, and creating job opportunities across its communities.

Mobilink Bank’s Environmental Responsibility & Global Recognition

The COP28 event solidified Mobilink Bank’s reputation as an environmentally conscious and responsible business entity. This recognition not only reinforces its commitment to sustainability but also firmly positions Pakistan in global discussions on climate finance. As one of the pioneers of climate finance in the country, Mobilink Bank has invested significantly in green financing, allocating over PKR 1.6 billion primarily for solar applications in agriculture to promote renewable energy.

Fostering Gender Inclusivity in Climate Finance

During the panel discussion, Haaris Chaudhary emphasized Mobilink Bank’s role in promoting gender inclusivity in climate finance, particularly in the agricultural sector. The bank actively supports women through its flagship Women Inspirational Network (WIN) program, providing resources, knowledge, and decision-making authority. Over 140,000 women in the microfinance sector have benefited from financial savings and insurance products, preparing them for the challenges associated with climate change and economic uncertainty.

Empowering Women and Sustainable Agriculture

Chaudhary highlighted Mobilink Bank’s commitment by allocating subsidized financing exceeding PKR 12 billion to more than 66,000 female customers. The bank continues to provide digital, financial, and Agritech solutions to farmers, contributing to the enhancement of sustainable agricultural practices.

Mobilink Bank’s Unique Position and Future Commitments

Expressing his thoughts on the session, Haaris Chaudhary stated that representing Pakistan at COP28 was a unique privilege. He emphasized Mobilink Bank’s dedication to driving sustainability through green financing and a gender-intentional approach. Acknowledging Pakistan’s vulnerability to climate change, Mobilink Bank remains at the forefront of empowering all segments of society, particularly women, for holistic economic development.

Future Initiatives and Expansion of Green Financing

Haaris Chaudhary affirmed the bank’s commitment to expanding its green financing in the coming years. The strategy promotes clean energy products and integrates low-carbon agriculture into lending, providing climate-related disaster insurance for farmers. Additionally, it facilitates Sharia-compliant financing for solar panels, fostering sustainability and climate resilience. Mobilink Bank aims to accelerate efforts in combating climate change and contributing to a more sustainable future.

Also read this: https://www.skipper.pk/2023/11/28/tecno-mobile-pakistan-partners-with-brand-spectrum-for-pr/

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