ISLAMABAD: The Securities and Exchange Commission of Pakistan’s Sustainable Finance Advisory Group for Capital Markets deliberated on strengthening Environmental, Social, and Governance (ESG) disclosure practices, enhancing cooperation to onboard companies onto the SECP’s ESG Sustain Portal.
The SECP Tuesday convened the inaugural meeting of the Sustainable Finance Advisory Group for Capital Markets.
The Advisory Group deliberated on strengthening ESG disclosure practices, enhancing cooperation to onboard companies onto the SECP’s ESG Sustain Portal, and advancing capacity-building initiatives to help firms align their reporting with international sustainability standards. Members also expressed support for the forthcoming Women EquiSmart Policy, which aims to embed gender-smart reforms across the SECP’s regulated sectors.
The session was convened by Mussarat Jabeen, Executive Director of the SECP, and attended by members of the Group, including Farrukh H. Sabzwari, CEO of the Pakistan Stock Exchange; Mr. Saifullah, President of the Institute of Chartered Accountants of Pakistan; Assad Hameed Khan, Head of ACCA Pakistan; Shauzab Ali, representative from the Asian Development Bank (ADB); Naz Khan, representative from the International Finance Corporation (IFC); Fareeha Ummar, representative from UN Women; and Nazish Shekha, representative from the Pakistan Business Council.
The Convener outlined the purpose and expectations of the Advisory Group while emphasizing the importance of setting clear and achievable targets.
The members affirmed their respective institutions’ role in the sustainability reforms , highlighting their partnership with the SECP over the last three years, and appreciated the formation of a unified Advisory Forum as a timely step to drive the agenda forward.
Members also underscored the critical importance of sustained collaboration and accelerating capacity-building to fast-track the adoption of international sustainability reporting standards, with their phased application scheduled to begin from July 2025.
Going forward, the Group emphasized the urgency of tackling the root causes of existing gaps, establishing clear KPIs to measure the progress of the group, and ensuring continued engagement with all key stakeholders.
Further, the Group committed to facilitating active partnerships to support the Women EquiSmart Policy action plan, which is aimed at mainstreaming gender-smart reforms across the SECP’s regulated sectors.
The Advisory Group will serve as a high-level platform for continuous dialogue, meeting quarterly to review progress and co-develop solutions for advancing sustainable business practices in Pakistan.
Copyright Business Recorder, 2025
