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One of Nepal’s leading private sector banks, Nabil Bank, has launched a new initiative called “Nabil Green Week”. The programme was launched on June 30, the National Paddy Day, marking the first anniversary of its “sustainable banking practice”.
Nabil Bank said in a statement: “The aim of the programme was to ensure financial literacy to those with limited financial access in rural areas, commercialise the agricultural sector, promote entrepreneurship and support the United Nations Sustainable Development Goals adopted by the Government of Nepal, “Nabil Sustainable Banking.”
The Bank also said: “The Sustainable Banking Practice of Nabil Bank is seen as an innovative initiation not just in the Bank but in the entire banking sector.”
Similarly, concern and promotion of environmental and Societal accountability is a highly prioritized objective of Nabil Sustainable Banking, stated the press statement.
“Hence, while offering the loans to business units around the country, the Bank has the protocol of providing only its ESRM guidelines (Environment Social Risk Management). Since 2018, the Bank has been conducting “Environment and Social Risk due Diligence” on the clients for loan facilities over Rs. 10 million that receive the accommodation and fall into the categories like Commercial Leasing, Term Finance, or Project Finance,” the bank stated in the press release.
“Furthermore, to reinforce the Bank’s commitment to sustainable banking activities, the Bank has adopted a sustainable practice for all of its staff members that can be incorporated into both their personal and professional lives. By internalizing sustainable practices within the organization, Nabil Bank continues making strides forward to a sustainable future,” added the statement.
Nabil Bank has been practicing sustainable banking by investing in hydropower, providing concessional loans, and working on social and environmental accountability.
