The SECP in partnership with Institute of Chartered Accountants of Pakistan (ICAP) holds an awareness and capacity building session on Sustainability disclosures and reporting in perspective of evolving international framework for corporate sustainability reporting.
The session was a full day event attracting huge interest from diverse stakeholders comprising of
representation from companies, multilateral institutions, professional bodies, capital market institutions and
business forums.
Ms. Musarat Jabeen, Executive Director (SECP) in her opening remarks stated that SECP has remained
strong proponent of robust disclosure-based regime and therefore, a cohesive sustainability reporting
framework by International Sustainable Standards Board (ISSB) shall facilitate inclusive economic growth.
Further, this session is an opportunity for synergizing with key stakeholders around a cohesive strategy and
tangible action plan shared by SECP. Mr. Farrukh Rehman, Council Member (ICAP) and Chairman
Accounting Standards Board in his speech emphasized on need for continued efforts for capacity building
on ISSB standards. He also noted the challenges in collection and analysis of data for sustainability reporting,
and importance of independent assurance of corporate sustainability reports. The capacity building session
was led by technical presentation from ICAP providing detailed overview of the emerging global baseline
for sustainability disclosures and way forward towards adopting and implementing these standards in
Pakistan. Private sector representatives also presented their sustainability related disclosure practices and
provided feedback for improving reporting mechanism.
IFRS Foundation also participated in the event and provided an overview of the sustainability disclosure
standards and various initiatives and plans of IFRS Foundation on the stakeholders capacity building. One
of the key areas of interest in the session was fireside chat by high level panel providing their feedback on
draft action plan of SECP. The plenary session moderated by Mr. Asad Feroze (ICAP) included panelist
namely Mr. Farrukh Rehman (ICAP), Mr. Farrukh Khan (Pakistan Stock Exchange), Mr. Andrew C.
Mccartney (Asian Development Bank), Mr. Ephyro Luis B. Amatong (Internal Finance Corporation), Mr.
Memosh Khawaja (Pakistan Institute of Corporate Governance), Ms. Nazish Shekha (Pakistan Business
Council), Mr. Shahzad Ashraf (UN Women, Pakistan) and Mr. Muhammad Kamran (UNDP). The panellist
discussed the critical role and initiatives of their institutions in promoting sustainable business practices,
transition challenges, tangible timelines and key areas of collaboration emerging from the SECP’s draft
action plan, giving strategic direction to the ESG roadmap for regulated sectors.
The chief guest for the session, Mr. Amjad Saqib, Founder and Chairman Akhuwat Foundation appreciated
SECP and ICAP for holding the awareness and capacity building session on sustainability considerations.
He also emphasized the vision of Akhuwat, significance of sustainable development goals and his aspirations for model village of Mustafabad that will be reflective of Islamic principles of inclusive socioeconomic and
sustainable development.
Mr. Akif Saeed, Chairman SECP in his concluding remarks appreciated the keen interest of divers
stakeholders in the session. He also reaffirmed SECP’s resolve of working as a facilitator for cohesive,
inclusive and tangible national ESG action plan. The session was effective in accelerating discussion around
sustainability considerations and engaging with all key stakeholders of ESG ecosystem for sustainable
economic development.