HBL reinforces commitment to Sustainability with 2023 Impact Report

HBL reinforces commitment to Sustainability with 2023 Impact Report

KARACHI: HBL, a leading financial institution and a part of the Aga Khan Development Network (AKDN), has reaffirmed its commitment to sustainability and social impact by addressing critical global challenges, including climate change, financial inclusion, and poverty alleviation. The bank’s latest Impact & Sustainability Report 2023 highlights significant strides in these areas, underscoring HBL’s pledge to achieve Net Zero emissions by 2030.

In 2023, HBL achieved several key milestones, including the solarization of 235 premises, investing Rs 36 billion in renewable energy projects, and advancing diversity, equity, and inclusion within its operations. The bank’s sustainability initiatives align with the United Nations’ Sustainable Development Goals (SDGs) and the Global Reporting Initiative (GRI) standards, making it a leader in driving sustainable development in Pakistan.

Key Achievements in 2023

  • Solarization Projects: HBL solarized 204 branches, 31 offsite ATMs, and 60 branches of HBL Microfinance Bank, reducing carbon emissions by over 500 metric tons of CO2 equivalent.
  • Renewable Energy Investments: A total of Rs 36 billion was invested in renewable energy initiatives, including solar-powered tubewells and community-owned biogas plants, ensuring sustainable energy access for rural areas.
  • Educational Support: HBL invested Rs 82 million in educational infrastructure, benefiting nearly 18,000 students across the country.
  • Skill Development: Vocational training programs supported by HBL helped 11,500 individuals gain essential skills for sustainable livelihoods.
  • Agricultural Empowerment: The launch of HBL Zarai Services Limited, Pakistan’s first subsidiary dedicated to agricultural extension services, empowered small and medium-scale farmers. The bank disbursed over Rs 100 billion to 345,000 farmers, enhancing food security and farm profitability.
  • Women Empowerment: HBL provided Rs 1.5 billion in financing to 600 women entrepreneurs, promoting economic participation and empowerment.
  • SME Lending Expansion: Lending to small businesses, women entrepreneurs, and freelancers crossed Rs 100 billion, driving economic growth and innovation.

A Message from the Chairman

Sultan Ali Allana, Chairman of HBL, emphasized the bank’s unwavering commitment to sustainable development. “For two decades, we have seized opportunities to promote sustainability and foster prosperity. Our focus on financial literacy and inclusion has enabled us to serve over 36 million people, many of whom were previously unbanked,” he said.

He also highlighted the increased contribution to the HBL Foundation (HBLF) from 1% to 1.5% of profit after tax, enabling the Foundation to expand its support for healthcare, education, and community welfare. In 2023, HBL Foundation surpassed Rs 3 billion in contributions, positively impacting nearly 10 million lives across Pakistan.

Looking Ahead

HBL’s Impact & Sustainability Report 2023 reflects the bank’s focus on integrating profitability with sustainability to drive meaningful change. HBL invites stakeholders to explore the report, showcasing how its strategic initiatives are fostering economic, social, and environmental progress.

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