Emerging markets all set to become experts in handling environmental issues

Clean tech’s world soon to become the center of gravity in emerging markets, confirms Bhanu Choudhrie of C&C Alpha Group 

The speed of economic change can be overwhelming for those investing in the emerging markets. It offers huge opportunities to the investors but at the same time it also poses some great challenges. The social and cultural issues associated with changing markets cannot be overlooked as growth is directly associated with it. 

In the current scenario, Global warming comes across as the greatest challenge for investors. With more than seven million people dying prematurely due to environmental pollution, Global Warming is now a major issue for emerging economies worldwide. 

There is no doubt that global warming is the biggest threat to human health but it also has the potential to become the single biggest driver of economic transformation. Decarbonisation of economies can affect the world in big way. It will not just affect the way we produce power but also transform the way we grow food and live our lives. 

Expressing his concern about global warming and various environmental issues, Bhanu Choudhrie said, “It is often said that the sins of developed economies, whose factories belched out fossil fuels throughout the 20^th century, are being visited on emerging markets at the very point that they are experiencing stellar economic growth for the first time. They are being required to decarbonise, just as demand from a nascent, voracious middle-class is taking off. 

It is quite fascinating to notice that the innovation curve is moving east to west and north to south. Giving his opinion about some dramatic shifts in approach coming from emerging markets, Achim Steiner, Former Executive of the United Nations Environment Program said, “Thailland advertises itself as a “sufficiency economy” and Bhutan talks of “Gross National Happiness” –but these are not merely theoretical concepts, these are national branding strategies which feed through to political implementation” 

Interestingly, we all have this concept fixed in our minds that wealth and technology can make us independent. On the contrary, we are more dependent on it than ever before. It is high time that all of us realize that we need to protect nature in order to survive.

Grant worth $650,000 Secured by Customers Bank for Safe Haven Project

Customers Bank, a community-based full-service bank recently announced the news of securing an Affordable Housing Program (AHP) grant worth $650,000 from the Federal Home Loan Bank (FHLBank) of Pittsburgh for Safe Haven, an affordable housing development in reading sponsored by the Hope Rescue Mission.

Based in Wyomissing, Customers Bank is a member of Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. The Bank is renowned for providing a range of banking services from small to medium-sized business through its offices in Pennsylvania, New York, Rhode Island, New Jersey, and Massachusetts.Renowned entrepreneurs like Bhanu Choudhrie are also amongst its board of directors.

“Customers Bank is pleased to build up our partnership with Hope Rescue Mission and support the vision of Rob and his team. This is a critical project and we appreciate the support of our partners at the FHLB of Pittsburgh in approving our application for this investment in the Berks County community.” said Richard Ehst, President and COO Customers Bank.

The Safe Haven project aims to rehabilitate the first three floors of a building that currently houses Hope Rescue Mission. Almost 117 shelter and transitional affordable housing units for very low-income residents will be preserved under this project, including long-term residents in a recovery program, and some who have progressed to employment. This project also aims to provide

individuals with the emotional, educational, spiritual and economic tools they need for independence.
“Homelessness is a problem that affects the entire community. Partners like Customers Bank help us provide critical programs and services to help homeless individuals find housing, employment and the help they need to get back on their feet. This is how we build thriving communities.” said Rob Turchi, Executive Director of Hope Rescue Mission.

Providing food, clothing, and shelter to approximately 70 men on the daily basis, the work done under the Safe Haven Project is remarkable. Providing social services and programs to the low-income residents is also the part of this project.