ISLAMABAD:The Security and Exchange Commission of Pakistan (SECP) held a premier environmental, social, and governance (ESG) symposium to facilitate sustainable investment.
The SECP in collaboration with UN Women held a premier ESG symposium to keep the momentum of discussion on ESG practices and facilitate sustainable investment, said a press release issued here on Tuesday.
The symposium was a full-day event attracting dynamic representation from the private sector presenting their success stories, high-level plenary discussions with key institutions, and working session with key stakeholders providing aspirations and pledges for strengthening the ESG ecosystem.
Ms. Musarat Jabeen, the executive director said in her opening remarks that the ESG considerations are gaining traction as investors and companies are seeking long-term value and alignment with sustainability and climate-related objectives.
Ms. Sharmeela Rasool, Country Representative UN Women, Pakistan emphasized the significance of Women’s Economic Empowerment Principles leading to inclusive economic growth and the need for benchmarking best practices.
Ms. Sadia Khan, Commissioner of SECP gave a detailed technical presentation on the evolution of the concept of sustainability, key initiatives of SECP, and feedback on the ESG roadmap by SECP. Representation from companies of diverse sectors highlighted their journey in adapting ESG best practices. The plenary discussion was led by Mr. Ahmed Iqbal with panelists comprising Mr. Farrukh Khan, CEO PSX, Mr. Ehsan Malik, CEO (PBC), Mr. Farrukh Rehman, Director (ICAP) and Ms. Fareeha Ummar, Head women empowerment (UN WOMEN Pakistan). The panelists discussed the critical role of institutions in promoting sustainable business practices, transition challenges, and the need for tangible future targets for gender-responsive principles and women’s economic empowerment. Working session led by Mr. Muhammad Shoaib, Director (CFA Society Pakistan) with panellists from the private sector mapped their best practices and showed commitment to strengthening areas in the environment, social, and governance considerations.
Mr. Akif Saeed, Chairman SECP, in his concluding remarks appreciated the keen interest of diverse stakeholders in the session. He emphasized that there is a need for consolidated, inclusive, and concentrated efforts toward a sustainable ecosystem. In this regard, ESG regulatory roadmap is the first step in setting the momentum for achieving key milestones and aspirations. There is a need for tangible milestones to be achieved through an inclusive approach to embracing ESG best practices for sustainable capital markets.
The symposium has provided the impetus for active engagement with all stakeholders. SECP shall continue to engage with all relevant stakeholders with the objective to set long-term priorities and tangible milestones.