HBL becomes CASI member

KARACHI: HBL said on Tuesday it had joined the Capacity Building Alliance of Sustainable Investment (CASI), an international platform that aims to promote green finance in developing countries.

HBL is the first CASI member in Pakistan and will work with the alliance to provide training, knowledge and resources on sustainable finance to various stakeholders, including regulators, ministries, academia and the workforce.

CASI, which was launched in October by the Institute of Finance & Sustainability, is a "global aggregator and distributor of sustainable finance knowledge" that seeks to help developing countries transition to a low-carbon economy.

HBL, which operates in 15 countries, has been pursuing sustainability and green initiatives under the guidance of the Aga Khan Development Network (AKDN). The bank is a signatory to the United Nations-backed Principles of Responsible Banking (PRB) and Net Zero Banking Alliance (NZBA), which commit to aligning business strategies with the Paris Agreement on climate change.

"This ground-breaking initiative will help to bridge the knowledge gap in sustainable finance and provide much-needed support to developing countries as they transition to a greener economy," Muhammad Aurangzeb, President and CEO of HBL, said in a statement. "We are committed to working with our partners to make CASI a success and to ensure that it delivers a real impact on the ground."