The Securities and Exchange Commission of Pakistan (SECP) hosted and moderated a webinar for the COMCEC Capital Market Regulators (CMR) Forum Sustainability Task Force, focusing on the implementation of ISSB reporting standards.
The Task Force, established under the Organization of Islamic Cooperation (OIC), provides a platform for capital market regulators from member states to collaborate on sustainable finance, environmental, social, and governance (ESG) reporting, and the adoption of international sustainability standards.
The webinar witnessed strong participation from member jurisdictions and professional bodies, reflecting the growing regional commitment to advancing sustainability reporting. The session featured insights from Pakistan, Türkiye, and Malaysia, with discussions revolving around regulatory frameworks, capacity-building efforts, and challenges related to ISSB standards adoption.
The SECP outlined Pakistan’s regulatory journey and its phased approach for adopting the ISSB standards, emphasizing initiatives aimed at strengthening market capacity and engaging stakeholders. The country’s proactive stance demonstrates its commitment to advancing sustainability and ESG practices, positioning Pakistan alongside regional peers and, in some areas, ahead of the curve.
Contributions from the Institute of Chartered Accountants of Pakistan (ICAP), Türkiye’s Public Oversight, Accounting and Auditing Standards Authority, and the Securities Commission Malaysia added valuable perspectives and international experiences to the dialogue.
The discussions underscored the importance of capacity-building, collaboration, and strategic phased implementation to ensure the effective adoption of ISSB standards. The SECP reiterated its commitment to promoting regional cooperation and enhancing sustainability reporting in line with global standards.
