Nabil Bank Installs Biodegradable Prayer Flags At Boudhanath Stupa To Promote Sustainability

March 27, 2022 | Investopaper

Considering the growing concerns over climate change in the world, Nabil Bank has launched an eco-friendly awareness campaign on the occasion of Earth Hour that is celebrated across the world on 26 March 2022 by replacing the prayer flags at Boudhanath Stupa with Biodegradable Prayer Flags. As the old prayer flags are made from nylon cloth and rope, they have been replaced with biodegradable ones which are made out of eco-friendly materials.

For this campaign, the Bank has partnered with its Sustainable Banking customer, Ms. Ang Dolma Sherpa who started her enterprise of producing biodegradable prayer flags with the help of a loan she availed from Nabil Bank. Through this initiative, Nabil Bank not only aims to promote the use of biodegradable materials in Boudhanath Stupa, but also intends to encourage social entrepreneurs like Ms. Ang Dolma Sherpa who have actively been contributing towards sustainability by producing eco-friendly products.

During the placement ceremony of biodegradable prayer flags, Mr. Upendra Prasad Poudyal, Chairman of Nabil Bank, Mr. Anil Keshary Shah, Chief Executive Officer of Nabil Bank, Dr. Ghana Shyam Gurung, Country Representative of WWF, Ani Choying Drolma, Singer and Social Worker, and Mr. Chandraman Lama, Chairman of Shree Boudhanath Area Development Committee, along with numerous dignitaries and guests from Embassies and INGOs, emphasized on the need to give continuation to the campaign. Moreover, all the guests expressed their solidarity towards the campaign to use biodegradable goods by signing on the Prayer Flags.

Nabil Bank has been undertaking various initiatives to promote Sustainability as a part of its Corporate Social Responsibility. In the past year, the Bank has been working towards supporting sustainable development by investing in green enterprises, agriculture, renewable energy, and encouraging such enterprises through Nabil Sustainable Banking. With a belief that sustainability begins at home, Nabil Sustainable Banking prioritizes activities that connect different sectors and individuals and contribute towards environment protection.

According to various studies, Nepal falls in the fourth rank in the world to be at risk of climate change. Nabil has launched this initiative to aware every one of the need to protect the environment as the effects of climate change will increase the impact of disasters. The bank aims to continue such campaigns in the coming days to promote the use of biodegradable materials.


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