Mr. Zafar Masud Emphasized Budgetary Allocations for Climate Action

Zafar Masud, President & CEO The Bank of Punjab, emphasized budgetary allocations for the public sector development program of the federal government for climate action, at the Webinar, ‘Adapting to Climate Change: Flood Rehabilitation Financing,’ hosted by InfraZamin Pakistan and CORPORATE PAKISTAN GROUP, in collaboration with NutshellGroup.

Due to specific nature of climate finance initiative, like specialised DFIs and Venture Capital Private Equity for startups, the climate related financial instruments and mechanism, for example green and ESG-compliant bonds, and in fact, this morning only, jointly with SDPI, we have launch Blue Economy Report where we talked about not only the Green Bonds but we also talked Blue Bonds. They should be deployed with an eye towards local and sectoral contexts. Integration of climate resilience into infrastructural investment is becoming increasingly essential. It is crucial for the private sector to be engaged for stimulating innovation spurring investment to develop viable adaption methods, and to design and build climate resistant infrastructure.

Zafar Masud

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