Bank Alfalah has partnered with the Karachi Metropolitan Corporation (KMC) and Indus Earth Trust (IET) to launch its first Urban Forestry project at Ibn-e-Qasim Park, Clifton with an initial contribution of PKR 3 million.
The launch ceremony began with the signing of a Memorandum of Understanding (MoU) between Bank Alfalah and Indus Earth Trust by President and CEO of Bank Alfalah, Atif Bajwa and Aijaz Ali Abro, CEO of IET.
The initiative is supported by a PKR 3 million contribution from Bank Alfalah and will begin with the development of an initial plantation area within Ibn-e-Qasim Park. The project forms part of the Bank’s broader environmental sustainability efforts. The initiative is designed to help reduce urban heat, improve air quality, support biodiversity and enhance Karachi’s climate resilience. The launch ceremony included a symbolic plantation activity.
“Our partnership with KMC and Indus Earth Trust is a collective effort to make a meaningful contribution to Karachi’s future,” said Atif Bajwa, President and Chief Executive Officer of Bank Alfalah. “Parks are the lungs of every city, and Karachi needs more of them. Together with our partners, we are proud to support initiatives that expand the city’s green spaces and contribute to a healthier, more resilient Karachi.”
The initiative is supported by a PKR 3 million contribution from Bank Alfalah and will begin with the development of an initial plantation area within Ibn-e-Qasim Park. The project forms part of the Bank’s broader environmental sustainability efforts.
Afia Salam, President of Indus Earth Trust, said, “This partnership demonstrates how collaboration between the public, private and non-profit sectors can support ecological restoration. By planting native species, we aim to create self-sustaining green spaces with community participation and oversight that will benefit the environment and the communities for generations.”
Bank Alfalah is also progressing towards its target of planting 100,000 mangroves by 2030 in partnership with WWF-Pakistan. In collaboration with the Pakistan Air Quality Initiative (PAQI), the Bank has supported the installation of seven air quality monitoring stations across Karachi and is contributing to the establishment of an Air Quality Laboratory at LUMS.
The Bank also unveiled its fourth Annual Sustainability Report at the event, outlining its environmental, social and governance initiatives. The report highlights PKR 24 billion in green financing and PKR 75.2 billion in SME financing, reinforcing the Bank’s commitment to supporting sustainable and inclusive economic growth.
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