Monday, June 17, 2024

Bank Alfalah Launches #GreenWayForward by Planting 15,000 Mangrove Trees in Collaboration with WWF- Pakistan

Karachi, July 21, 2023 – Bank Alfalah, one of the largest commercial banks in Pakistan, has initiated a #GreenWayForward, a plantation drive with World Wide Fund for Nature Pakistan (WWF-Pakistan), a leading organisation that works on ecosystem conservation. This collaborative effort aims to contribute to the reforestation of mangroves and improve natural resource management in Pakistan.

WWF-Pakistan has been at the forefront of environmental conservation since 1970, and together with Bank Alfalah, they plan to plant a minimum of 15,000 saplings at the Wetlands in Sandspit, Karachi, symbolising the total number of employees at the Bank. In addition to the planting initiative, WWF-Pakistan will provide comprehensive post-care for the saplings for one year. This includes regular monitoring and the replacement of the planted saplings, ensuring long-term sustainability.

The plantation of 15,000 mangrove trees signifies a monumental step towards safeguarding Karachi’s coastal ecosystem. The Mangroves of Sindh’s coastal zone are extensive, covering about 600,000 hectares. They play a pivotal role in mitigating the impacts of climate change, acting as a natural barrier against erosion, storm surges, and coastal flooding. Moreover, these coastal forests support exceptional biodiversity by serving as vital habitats for various plant and animal species. The #GreenWayForward plantation drive with WWF aims to increase the forest cover of mangroves as it demonstrates Bank Alfalah’s commitment to ensure a greener tomorrow.

Bank Alfalah has taken a promising step towards sustainability by pledging to plant 100,000 trees across Pakistan by the year 2030. This ambitious initiative showcases the Bank’s dedication to environmental conservation and combating climate change. They aim to promote a tripartite partnership between the government, civil society, and the public-private sector to work towards a greener environment and a sustainable nation collaboratively.

“Corporate partnerships play a vital role in advancing our conservation efforts and building a sustainable future. We appreciate the support of our corporate partners in driving initiatives that contribute to environmental sustainability. Together, we can address the challenges of climate change and work towards preserving our precious ecosystems for future generations. With this, we are constructing resilient coastal ecosystems to create a sustainable future.” said Hammad Naqi Khan, Director General, WWF-Pakistan.

Atif Bajwa, President and CEO of Bank Alfalah, stated, “Bank Alfalah is committed to environmental sustainability and playing an active role in addressing climate change. Our partnership with WWF-Pakistan for planting 15,000 mangroves is the first step forward in preserving our planet for future generations. We believe that by working together, we can take due action to preserve our ecosystem.”

In light of the devastating floods experienced in Pakistan last year, a consequence widely attributed to the climate crisis. While recognising this urgent need to address this environmental challenge, this partnership urges communities and individuals to actively engage in tree plantation drives actively, fostering a collective effort towards building a sustainable future for our community.

About Bank Alfalah:

Bank Alfalah is a leading commercial bank in Pakistan, boasting over 900 branches across 200 cities and an international presence in the UAE, Bangladesh, Bahrain, and Afghanistan. The bank offers a wide range of products and services, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium enterprise, agricultural, Islamic, and asset financing to private-sector institutions and governments.

In 2018, Bank Alfalah launched its digital banking group, setting a high standard for the industry to follow with its Alfa app, a revolutionary new application that brings together an unprecedented range of services and features all in one convenient platform. In 2022, the bank was awarded the best ‘Digital Bank’ and ‘Housing Finance’ across Pakistan, highlighting its commitment to simplifying and improving the financial capabilities of its customers.

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