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                      Aamir Ibrahim Awarded Hilal-e-Imtiaz for Tech & Finance Excellence
                      March 23, 2025
                      Pakistan’s Apparel Exports Reach Historic $6.2B
                      March 23, 2025

                      Karandaaz Launches Green Bond for Climate

                      Published by News Desk on March 23, 2025
                      Categories
                      • Innovation
                      Tags
                      • climate change
                      • green bond
                      • karaandaaz

                      Pakistan has launched its first PKR-denominated Green Bond, a PKR 1 billion issuance by Parwaaz Financial Services Ltd (PFSL), a subsidiary of Karandaaz Pakistan. The bond aims to finance clean energy projects, reduce carbon emissions, and support economic growth. It has secured investments from nine financial institutions, including Allied Bank Limited, Bank Alfalah Limited, and Pak Brunei Investment Company Limited. The funds will be used to finance 20 MW of clean energy, avoid 30,000 tonnes of CO₂ emissions, create 2,000 jobs per year, generate PKR 3 billion in annual SME revenue, and contribute PKR 1.5 billion to Pakistan’s GDP annually.

                      The launch event brought together key stakeholders, including Finance Minister Muhammad Aurangzeb, British High Commissioner Jane Marriott, and Climate Change Secretary Aisha Humera Chaudhary. The bond is part of Pakistan’s broader effort to mobilize climate finance and build a sustainable investment ecosystem. Regulatory bodies like SECP and Pakistan Stock Exchange – PSX, along with Pakistan Environment Trust and The Pakistan Credit Rating Agency Limited [PACRA], played a role in the initiative.

                      With growing investor confidence in green finance, this bond sets a precedent for future sustainable investments in Pakistan. It is expected to support the country’s transition towards a low-carbon economy and strengthen its financial sector’s role in climate resilience.

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                      • News Desk

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