Pan Asia Bank takes the lead in Climate Finance in collaboration with GCPF
Pan Asia Banking Corporation PLC last week took the initiative in addressing climate change which has reached new depths in threatening the ecological balance in the world.
The bank, among early pioneers of introducing green lending in Sri Lanka, is collaborating with the Global Climate Partnership Fund (GCPF). The Fund is a global public-private partnership managed by responsAbility. It aims at mitigating climate change via leveraging private capital in developing and emerging markets to channel funds into areas and projects which can curb the adverse effects and impacts from a changing climate – a process referred to as climate finance. To champion this cause, PABC, supported by GCPF, organised an event titled ‘The Future is Green Sri Lanka 2019’ at Cinnamon Grand Colombo.
The event was attended by a diverse group of participants including representatives from Sri Lanka Sustainable Energy Authority, Regional Development Department of CBSL, Sri Lanka Sustainable Banking Initiative and academics from the University of Moratuwa (UoM).
Dr Thusitha Sugathapala, Senior Lecturer, UoM, delivered the key note address and presented participants with insights on climate change and the remedial actions taken by the government to mitigate the impacts. Dr Milinda Pathiraja, UoM, gave a perspective on the benefits of green buildings.
Addressing the gathering, PABC Executive Officer, Nimal Tillekeratne pledged his support towards climate finance. Luke Franson, Head of Green Lending at GCPF explained the impact of climate finance and the GCPF’s role in climate mitigation.