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The 24th United Nations Framework Convention on Climate Change (UNFCC) conference (COP24) concluded earlier this week in Katowice, Poland. Parties to the conference had tabled the talks with hopes of achieving a deal related to cutting down emissions agreeable to both rich countries and developing ones.
The conference ran from the 3rd to the 14th of December and ended up just short of implementing the ‘rules’ outlined in the Paris Agreement with signatories just managing to salvage a deal. Despite a failure to outline relative contributions and climate financing policies for all parties, the conference was wrapped up with a multilateral pledge to reduce global warming by 1.5 Degree Celsius by 2020.
In its share of slowing down the adverse effects of climate change, JS Bank switched 100 of its branches on to solar energy and has supported extensive tree plantation campaigns.
The 1.5-degree benchmark was established on a special report published by the International Panel on Climate Change (IPCC) in October, the contents of which ended up being debated at COP24. Most countries were reluctant to come to terms with the political connotations implied within as most climate change regimes tend to be received.
However common objectives such as a platform for carbon emission reporting were agreed upon between the largest contributors i.e. China and the European Union in the absence of America. Pakistan’s stance on the matter is apparent as it is among the many countries adversely affected by climate change. One of Pakistan’s leading financial institutions, JS Bank, sponsored two delegates to COP24 in its continued efforts to promote youth development and tackle climate change.
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Safee ul Haque from the Institute of Business Administration (IBA) and Sonia Madad from Federal Medical and Dental College Islamabad (FMDC) attended the conference in Poland. JS Bank not only established its stance on climate change but seeks to advance the aims of the Paris Agreement by investing effort on the implementation of guidelines.
Speaking on the occasion, Sonia Madad said “Being a part of COP24, I have realized that each one of us has a part to play in dealing with one of the biggest challenges that humanity faces today. I would like to thank and appreciate JS Bank and the Mahvash and Jahangir Siddiqui Foundation (MJSF) for their continued efforts in encouraging climate activism among youth in Pakistan.”
Inefficient irrigation systems, lack of sustainable green technology such as rainwater catchments and dependence on the burning of fossil fuels paints a bleak picture of the future.
JS Bank has increasingly strived to raise awareness and distribute resources on creating a more sustainable future for the country and its citizens by investing in various green initiatives. In its share of slowing down the adverse effects of climate change, JS Bank switched 100 of its branches on to solar energy and has supported extensive tree plantation campaigns.
These and many more environmental and social activities are undertaken by the Bank under its sustainable finance platform. Pakistan with its largely agriculturally driven economy and rural majority ranks in the top five countries undergoing water scarcity and increasingly high levels of air pollution in its urban areas.
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Inefficient irrigation systems, lack of sustainable green technology such as rainwater catchments and dependence on the burning of fossil fuels paints a bleak picture of the future. Even From a global perspective, climate centric initiatives inspired by the likes of JS Bank will become increasingly significant.