The Securities and Exchange Commission of Pakistan (SECP) and the International Finance Corporation (IFC) have launched a three-year program to integrate environmental, social, and governance (ESG) principles into Pakistan”s corporate landscape. The initiative, known as the ESG Pakistan Project, aims to align local businesses with global sustainability benchmarks.
A workshop in Islamabad marked the project”s commencement, drawing participants from financial institutions, corporations, and professional organizations. SECP Chairperson Akif Saeed stressed the increasing importance of sustainability for capital markets, particularly in climate-vulnerable nations like Pakistan. He highlighted SECP”s recent strides in ESG integration, citing the ESG Regulatory Roadmap, Disclosure Guidelines, and the ESG Sustain Portal.
IFC Country Manager for Pakistan and Afghanistan, Zeeshan Sheikh, underscored the advantages of embracing sustainability for businesses. He noted that such practices can enhance corporate image, boost operational effectiveness, attract funding, and fuel sustainable expansion. The project will leverage IFC”s worldwide experience to promote awareness, develop skills, and support the execution of relevant regulatory structures.
The project will feature various activities, including awareness campaigns, specialized training workshops, creation of ESG guidance documents, and analysis of ESG implementation among listed firms using data from the ESG Sustain Portal.
The SECP and IFC are collaborating with stakeholders to promote sustainable finance and ESG adoption in Pakistan. This project reinforces SECP”s commitment to a transparent and inclusive regulatory framework aligned with international norms.
The project is a joint effort with the Facility for Investment Climate Advisory Services (FIAS), which supports World Bank Group initiatives that encourage open markets and private investment in growth-oriented sectors. Funding is provided by CIFPAK, a climate-focused program managed by IFC in partnership with the UK Foreign Commonwealth and Development Office.