SBP ex-official to lead China’s green investment

KARACHI: China-led Green Investment Principles, a group of global institutions promoting green investment in Belt-and-Road region has appointed State Bank of Pakistan (SBP) former governor Yaseen Anwar as the chairman of its first regional chapter.

“The core function of the chapter is to develop GIP knowledge and activities, build capacity for green and sustainable investment, and solve practical problems faced by investors and corporates who wish to make more green investments,” Anwar said during a webinar by the Global Green Finance Leadership Program. Green Investment Principles launched the regional chapter for Central Asia last month. The main aim of the regional chapter is to enhance engagement with local stakeholders, identify prospective GIP members and collect green projects to be shared among existing members as potential investments.

SBP Deputy Governor Sima Kamil said extensive financial resources would be needed to accelerate sustainability development and that they just launched a national program on environmental and social risk management.

More than 30 experts from Kazakhstan, Mongolia, Pakistan, China and the UK were convened to share their insights on green investments, green taxonomies, environmental and social risk management, and biodiversity. The event was co-hosted by the Beijing Institute of Finance and Sustainability (BIFS), the Astana International Financial Centre (AIFC), and the Mongolian Sustainable Finance Association (MSFA), with support from the UK Partnering for Accelerated Climate Transitions (UK PACT) program.

Jenny McInnes, deputy director of International Climate Finance, UK BEIS said UK PACT works in partnership with countries to accelerate the global climate transition. “We need to raise the ambition and ability of all countries ahead of COP 26.”

The UK is to host the 26th UN Climate Change Conference of the Parties (COP 26) on 1 – 12 November 2021.