News Analysis |
All around the world, Green economy is taking over aimed at sustainable development, coupled with atmospheric conservation is being actively pursued by of corporate, political and social sectors.
JS Bank, one of the leading Banking networks of Pakistan has launched a series of projects and memorandums of understanding with various initiatives to help conserve natural resources and to conform with the global SDBs “Sustainable Development Goals”.
According to a press release, JS Bank recently partnered with local solar energy firm “Nizam Energy” on a PV module financing solution directed at small and medium enterprises (SMEs), which roughly translates to providing solar panels to small and medium sized businesses.
The award recognizes the overall environmental, social and governance (ESG) impact that JS Bank initiatives have had in areas such as, health, education, sustainable development and relief efforts across the country.
The smart panel solution, JS “Smart Roshni”, will allow SMEs that use Nizam’s solar modules and technical services to benefit from financing of up to PKR10 million (US$86,500) at a mark-up of 6% from the bank, while reducing the SMEs’ dependency on grid power.
Addressing the launch ceremony of JS Smart Roshni, Mr. Babbar Wajid, head of PD and business management at JS Bank said: “Our partnership with Nizam Energy reflects our commitment to provide customers with responsible solutions for their energy needs, while creating medium to long-term savings.
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This initiative will help our clients increase operational efficiency in an environmentally responsible manner, and help reduce load on the national grid.” Mr. Usman Ahmad, CEO, Nizam Energy, said: “With easy and low cost financing solutions provided by JS Bank, we can further enable customers across Pakistan to avail solar power generation solutions with financing support.”
Last year, JS bank had won the award for “Best Environmental, Social and Governance Bank” at the prestigious Pakistan Banking Awards 2017 that were held on September 19, 2017. The Banking Awards ceremony was jointly organized by the Institute of Bankers Pakistan, A.F. Ferguson & Co. (a member firm of the PwC network) and Dawn Media Group.
All around the world, Green economy is taking over aimed at sustainable development, coupled with atmospheric conservation is being actively pursued by of corporate, political and social sectors.
The award recognizes the overall environmental, social and governance (ESG) impact that JS Bank initiatives have had in areas such as, health, education, sustainable development and relief efforts across the country.
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The Jury recognized JS Bank for being at the forefront in this domain amongst all the banks in Pakistan in criteria such as energy usage, waste disposal, social standards and transparent governance mechanisms. Among other initiatives that were instrumental in helping JS Bank win this award were being recognized as the first commercial bank to be “WWF Green Office-Certified and being one of the first banks to have branches that use solar power.
The award ceremony was attended by Khalid Imran (President & CEO, JS Bank), Basir Shamsie (Deputy CEO, JS Bank) and Kamran Jafar (Group Head of Corporate & Retail Banking Group) along with senior management of the bank.