HBL reinforces commitment to sustainability with 2023 Impact Report

KARACHI: Upholding the ethos of the Aga Khan Development Network (AKDN), HBL believes that impact & sustainability extend beyond charitable giving. HBL, being more than just a bank, is committed to fostering positive change by addressing climate change, promoting financial inclusion, and alleviating poverty.

This commitment is reflected in HBL’s ambitious sustainability goals, including its aim to achieve Net Zero emissions by 2030.

In 2023, HBL made significant strides towards these goals, including solarizing 235 of its premises, investing Rs 36 billion in renewable energy projects, and prioritizing diversity, equity, and inclusion across its operations.

Sharing his comments, Sultan Ali Allana, Chairman – HBL, stated, “For two decades, we have consistently seized opportunities to promote sustainable development and foster prosperity in the country.

Building on the ethos of AKFED, we seek to enrich the lives of those we serve. As financial literacy and inclusion remain our directional vectors, we are cognizant of the need to constantly innovate and leverage technology.

Our focused approach and interventions through HBL’s SME, Agri, and Microfinance arms have ensured banking coverage to over 36 million people throughout the country, most of whom we considered un-bankable.

In 2023, the HBL Board supported the enhancement of the Bank’s contribution to the HBL Foundation (HBLF) from 1% profit after tax to 1.5% profit after tax. With this enhanced capacity, the HBL Foundation has been able to widen its programme spread across key areas of need, making robust contributions to healthcare, education, and community development.“

HBL has achieved a remarkable milestone with the HBL Foundation surpassing Rs 3 billion in direct contributions, positively impacting nearly 10 million lives across Pakistan.

The Foundation allocated funds for healthcare, education, and vocational training programs for skill development and sustainable livelihoods. The Foundation also played a pivotal role in disaster response and community welfare.

This landmark achievement is highlighted in HBL’s Impact & Sustainability Report 2023, reaffirming its position as a catalyst for sustainable development in Pakistan. The comprehensive report highlights the Bank’s contributions across economic, social, and environmental dimensions, underscoring its alignment with the United Nations’ Sustainable Development Goals (SDGs) and Global Reporting Initiative (GRI) standards.

The report also outlines tangible achievements marking significant milestones in 2023.

Key Achievements

• Solarization of 204 HBL branches and 31 offsite ATMs, along with 60 branches of HBL Microfinance Bank, reducing carbon emissions by over 500 metric tons of CO2 equivalent.

• Rs 36 billion was invested in renewable energy projects, including solar-powered tubewells and community-owned biogas plants, ensuring sustainable energy access for rural areas.

• Rs 82 million was invested in educational infrastructure projects, impacting nearly 18,000 students.

• Support for skill development initiatives, benefiting 11,500 individuals through vocational training programs.

• Launch of HBL Zarai Services Limited, a first-of-its-kind subsidiary in Pakistan dedicated to agricultural extension services, aiming to empower small- and medium-scale farmers.

• Over Rs 100 billion was disbursed to 345,000 farmers, boosting farm profitability and enhancing food security.

• 37 million customers served globally, including 5 million women customers.

• Rs 1.5 billion disbursed to 600 women entrepreneurs, driving economic participation.

• Expansion of SME lending to cross Rs 100 billion, with a focus on small businesses, women entrepreneurs, and freelancers.

HBL invites you to read its Impact and Sustainability Report – 2023 to learn how profitability and sustainability together make a real difference.

Copyright Business Recorder, 2025