Karachi: Pakistan has launched its first rupee-denominated Green Bond, marking a significant step toward mobilizing private capital for sustainable development.
Issued by Parwaaz Financial Services Limited (PFSL), a subsidiary of Karandaaz Pakistan, the Parwaaz Green Action Bond is the first of its kind to be listed on the Pakistan Stock Exchange (PSX). The bond has secured a PKR 1 billion investment from leading financial institutions to fund projects in renewable energy, clean transport, and green infrastructure.
Speaking at the launch, Finance Minister Muhammad Aurangzeb emphasized the need for innovative financial solutions to combat climate challenges such as floods, pollution, and glacier melt. He stated that the bond represents Pakistan’s commitment to embedding sustainability within its financial sector and attracting large-scale green investments.
The initiative has received strong backing from financial institutions, including Bank Alfalah, Bank of Khyber, Allied Bank, and several development finance institutions such as Pak Brunei, Pak China, Pak Libya, Pak Oman, and Saudi Pak Investment Companies.
The UK government played a key role in the bond’s development, providing technical assistance through its MOBILIST program. British High Commissioner Jane Marriott described the bond as a model for leveraging private sector investment to meet Pakistan’s estimated $348 billion green financing needs by 2030.
Karandaaz Board Chairperson Syed Salim Raza reaffirmed the institution’s commitment to sustainable finance, while PFSL CEO Javed Iqbal highlighted the bond’s role in funding Pakistan’s transition toward clean energy and eco-friendly infrastructure.
With this landmark issuance, Pakistan has taken a crucial step toward climate-resilient economic growth, unlocking new opportunities for green investment and financial innovation.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
