The corporate sector in Pakistan is actively stepping up its role in environmental preservation as Bank Alfalah partners with the Karachi Metropolitan Corporation and the Indus Earth Trust to launch a dedicated urban forestry project. The green initiative, centered at the historic Ibn-e-Qasim Park in Clifton, commenced with an initial financial contribution of three million Pakistani rupees from the commercial bank. Designed to mitigate the worsening effects of climate change in the country’s largest metropolis, the project intends to reduce the urban heat island effect, improve local air quality, restore regional biodiversity, and significantly bolster Karachi’s overall climate resilience.
The formal commencement of the project was marked by the signing of a Memorandum of Understanding during a ceremony held at the park. The agreement was signed by Atif Bajwa, the President and Chief Executive Officer of Bank Alfalah, and Aijaz Ali Abro, the Chief Executive Officer of the Indus Earth Trust. To mark the launch, representatives from the public, private, and non-profit sectors participated in a symbolic tree plantation activity, signaling a shared commitment to restoring the city’s depleted green cover. The initial phase of the project will focus on preparing the soil and cultivating a dedicated plantation zone within the park premises using native plant species.
Expressing his views on the green alliance, bank chief Atif Bajwa emphasized that public-private collaborations are essential for securing a sustainable future for Karachi. He noted that urban parks function as the lungs of highly populated cities, and Karachi is in urgent need of expanding its ecological infrastructure. Through this funding, the financial institution aims to create accessible, healthy, and green open spaces that improve the standard of living for the local population. Adding to this perspective, Afia Salam, the President of the Indus Earth Trust, remarked that the partnership serves as a model for ecological restoration. She pointed out that utilizing native flora ensures the creation of self-sustaining ecosystems that require minimal long-term resources and thrive with active community participation.
This urban forestry project represents just one component of the commercial bank’s broader environmental, social, and governance strategy. The bank is also working toward a long-term goal of planting one hundred thousand mangroves along the coastal lines of Pakistan by 2030, a project managed in close partnership with WWF-Pakistan. Furthermore, the bank has collaborated with the Pakistan Air Quality Initiative to install seven advanced air quality monitoring stations across Karachi, providing real-time environmental data to the public. To support academic research on pollution and climate change, the bank is also funding the establishment of a specialized Air Quality Laboratory at the Lahore University of Management Sciences.
The environmental launch served as a fitting backdrop for the bank to unveil its fourth Annual Sustainability Report, which highlights its corporate contributions toward sustainable development. According to the disclosures, the institution has disbursed twenty-four billion rupees under various green financing schemes alongside seventy-five point two billion rupees in dedicated small and medium enterprise financing. This robust integration of financial services with sustainable practices underscores a determined effort by the banking sector to foster inclusive economic growth while actively safeguarding the country’s fragile ecosystems.
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