KARACHI: Pakistan’s financial inclusion rate has risen to 71%, while the gender gap has narrowed to 27%, State Bank of Pakistan (SBP) Governor Jameel Ahmad has said stressing the need to extend climate finance to women, smallholder farmers and small businesses.
Addressing the inaugural session of a four-day joint learning programme organised by the SBP and the Alliance for Financial Inclusion (AFI), he said climate change and financial exclusion were closely linked, as communities most exposed to climate risks often have the least access to insurance, savings and formal financial services. “Climate finance must do more than support green investments. It must also help communities anticipate risks, build resilience and adapt to a changing climate,” he said.
The programme, being held in Pakistan for the first time, has brought together 38 representatives of central banks and financial regulators from 24 countries across four continents. It aims to help participating institutions turn inclusive green finance policies into practical measures and strengthen climate-resilient financial systems.
Citing the devastating 2022 floods, Ahmad said the disaster caused nearly $15 billion in physical damage and a further $15 billion in economic losses, affected more than 30 million people and damaged 2.2 million homes. He said the scale of the losses underscored the need for financial systems that are both environmentally sustainable and inclusive.
The governor said Pakistan was sharing its Green Taxonomy and climate risk framework with regulators across the AFI network. He outlined the SBP’s measures to integrate environmental considerations into the financial sector, including the Green Banking Guidelines of 2017, the Environmental and Social Risk Management Framework of 2022, the Pakistan Green Taxonomy and regulations on climate-related financial risks. He also referred to the Climate Stress Testing Guidelines issued in December 2025, which help financial institutions assess their exposure to climate-related shocks.
On women’s access to finance, Ahmad highlighted the Pakistan Women Inclusive Finance Programme, supported by the Asian Development Bank. He also noted that Pakistan joined the Women Entrepreneurs Finance Code in 2025, with the SBP serving as the anchor institution for the financial industry.
He said Pakistan’s work under AFI’s four pillars of Promotion, Provision, Protection and Prevention includes classifying environmentally sustainable economic activities, directing financing towards underserved groups, strengthening women’s financial resilience and preparing financial institutions to manage climate-related risks. Participants would exchange experiences on implementing inclusive green finance policies, supporting climate-smart agriculture and addressing barriers, including those related to gender.
“The success of any policy framework is ultimately measured by its implementation and its impact on people’s lives,” he said.
AFI Director of Strategy, Member Engagement and Evaluation Aban Haq and World Bank Operations Manager Lasse Melgaard also addressed the session, highlighting the importance of international cooperation and knowledge-sharing in promoting inclusive and sustainable finance.
