SECP, UN Women jointly hold ESG symposium

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) in collaboration with the UN Women held environmental, social and governance (ESG) symposium, a statement said.

The conference was held on Tuesday, January 24, 2023, to keep the momentum of discussion on ESG practices and facilitate sustainable investment.

It was a full-day event, attracting dynamic representation from the private sector.

The plenary session discussed the critical role of institutions in promoting sustainable business practices, transition challenges and tangible future targets for gender responsive principles and women’s economic empowerment.

The working session led by Muhammad Shoaib, director (CFA Society Pakistan), with the panellist from the private sector mapped their best practices and showed commitment in strengthening areas in environment, social and governance considerations.

Musarat Jabeen, executive director of SECP, in her opening remarks said that ESG considerations are gaining traction, as the investors and companies are seeking long-term value and alignment with sustainability and climate-related objectives.

Sharmeela Rasool, country representative of the UN Women, Pakistan, emphasised the significance of women’s economic empowerment principles leading to inclusive economic growth and need for benchmarking best practices.

Sadia Khan, SECP commissioner, gave a detailed technical presentation on the evolution of sustainability concept, key initiatives and feedback on ESG roadmap by the SECP.

Akif Saeed, chairman of the SECP, in his concluding remarks appreciated the keen interest of diverse stakeholders in the session.

He emphasised there is a need for consolidated, inclusive and concentrated efforts towards sustainable ecosystem. In this regard, the ESG regulatory roadmap is the first step in setting momentum to achieve the key milestones and aspirations.

There is need for tangible milestones to be achieved through an inclusive approach to embrace ESG best practices for sustainable capital markets, he added.

The panellist comprised Farrukh Khan, CEO of the Pakistan Stock Exchange (PSX), Ehsan Malik, CEO of Pakistan Business Council (PBC), Farrukh Rehman, director of the Institute of Chartered Accountants Pakistan (ICAP) and Fareeha Ummar, head of women empowerment (UN Women Pakistan).

The symposium provided impetus for active engagement with all the stakeholders.

The SECP would continue to engage all the relevant stakeholders with the objective to set long-term priorities and tangible milestones.