Ijaz Kakakhel Islamabad
The SECP in collaboration of UN WOMEN held a premier ESG symposium to keep the momentum of discussion on ESG practices and facilitate sustainable investment.
The symposium was a full day event attracting dynamic representation from private sector presenting their success stories, high level plenary discussion with key institutions and working session with key stakeholders providing aspirations and pledges for strengthening ESG ecosystem.
Ms. Musarat Jabeen, executive director in her opening remarks said that 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 need for benchmarking best practices.
Ms. Sadia Khan, Commissioner SECP gave a detailed technical presentation on evolution of concept of sustainability, key initiatives of SECP and feedback on ESG roadmap by SECP. Representation from companies of diverse sector highlighted their journey in adapting ESG best practices.
The plenary discussion was led by Mr. Ahmed Iqbal with panellist 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 panellist discussed the critical role of institutions in promoting sustainable business practices, transition challenges and need tangible future targets for gender responsive principles and women’s economic empowerment. Working session led by Mr. Muhammad Shoaib, Director (CFA Society Pakistan) with panellist from private sector mapped their best practices and showed commitment in strengthening areas in environment, social and governance considerations.
Akif Saeed, Chairman SECP in his concluding remarks appreciated the keen interest of diverse stakeholders in the session. He emphasized that there is need for consolidated, inclusive and concentrated efforts towards sustainable ecosystem. In this regard, ESG regulatory roadmap is the first step in setting momentum for achieving key milestones and aspiration. There is need for tangible milestones to be achieved through an inclusive approach to embrace ESG best practices for sustainable capital markets.
The symposium has provided impetus for active engagement with all stakeholders. SECP shall continue to engage with all relevant stakeholders with objective to set long term priorities and tangible milestone.
