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Advertisement - ISLAMABAD, Oct 22 (APP):The International Finance Corporation (IFC), in collaboration with the Securities and Exchange Commission of Pakistan (SECP), held its second stakeholder consultation session in Karachi under the ESG Pakistan Project. The session aimed to strengthen Pakistan’s corporate sector and align it with international environmental, social, and governance (ESG) standards to become more investment-ready, said a press release issued by the SECP here on Wednesday. The session was attended by key stakeholders from capital market institutions, the corporate sector, and professional bodies. It was built upon discussions on sustainable business practices initiated at the launch of the ESG Pakistan Project in July 2025. In his keynote remarks, SECP Chairperson Akif Saeed emphasized the SECP’s commitment to its partnership with IFC. He stated, “The SECP greatly values its longstanding partnership with IFC for advancing sustainability and inclusive development. Our ESG reforms, which are being implemented in a phased and collaborative manner, are gaining international recognition as best-practice examples. Through the ESG Regulatory Roadmap, Disclosure Guidelines, and the ESG Sustain Portal, we are embedding sustainability and accountability in market practices while enhancing corporate readiness and attracting climate-aligned investments. Furthermore, the encouraging response to our recent ESG Survey will further help us identify sectoral challenges and shape policies to support Pakistan’s transition toward a transparent, resilient, and sustainable ecosystem.” Ms Zunee Muhtashim, Principal Investment Officer at IFC, stated that incorporating ESG practices is now a critical priority for businesses seeking to strengthen their reputation, attract investment, and drive sustainable growth. She noted that the ESG project, implemented with the SECP and supported by the UK’s Foreign, Commonwealth & Development Office (FCDO) and the Facility for Investment Climate Advisory (FIAS), aims to accelerate the implementation of ESG-focused regulatory frameworks. Mr Noman Rosenbaum, a representative of FCDO, highlighted that strengthening ESG-aligned reforms is essential to building market confidence and unlocking sustainable private investment in Pakistan. A panel discussion, moderated by Mohsin Ali from IFC, featured representatives from the SECP, the Institute of Chartered Accountants of Pakistan, the Pakistan Institute of Corporate Governance, the banking sector, and sustainability practitioners. Ms Musarat Jabeen, Executive Director of the SECP, outlined the next phase of the SECP’s ESG journey, stating that it is focused on deepening implementation and translating policy into measurable corporate practices. She added that the goal is to equip companies with the tools, data systems, and incentives needed to turn sustainability commitments into tangible outcomes, and that collaboration with partners like IFC remains central to ensuring Pakistan’s capital markets are not only compliant but also competitive and investment-ready in the global sustainability landscape. Panelists collectively emphasized the growing momentum for sustainable finance in Pakistan and underscored the importance of public-private collaboration, market incentives, and capacity development to translate ESG commitments into meaningful corporate action and long-term impact. Under the three-year ESG project, IFC will support the SECP in country-wide stakeholder engagement, sector-specific ESG capacity-building workshops, the development of ESG guidance materials, and impact assessments of ESG practices among listed companies using data from the ESG Sustain portal. This project reinforces the SECP’s efforts to build a regulatory environment that is collaborative, transparent, inclusive, and aligned with international standards.
