The Securities and Exchange Commission of Pakistan (SECP) convened the inaugural meeting of the Sustainable Finance Advisory Group for Capital Markets.
The Advisory Group discussed strengthening ESG disclosure practices, enhancing cooperation to onboard companies onto the SECP’s ESG Sustain Portal, and advancing capacity-building initiatives to help firms align their reporting with international sustainability standards, according to a press release.
Members also expressed support for the forthcoming Women EquiSmart Policy, which aims to embed gender-smart reforms across SECP-regulated sectors.
The session was convened by Ms. Musarat Jabeen, Executive Director of the SECP, and attended by members including Farrukh H. Sabzwari, CEO of the Pakistan Stock Exchange; Saif Ullah, President of the Institute of Chartered Accountants of Pakistan; Assad Hameed Khan, Head of ACCA Pakistan; Shauzab Ali, representative from the Asian Development Bank (ADB); Ms. Naz Khan, representative from the International Finance Corporation (IFC); Ms. Fareeha Ummar, representative from UN Women; and Ms. Nazish Shekha, representative from the Pakistan Business Council.
The convener outlined the purpose and expectations of the Advisory Group while emphasizing the importance of setting clear and achievable targets.
Members reaffirmed their institutions’ roles in sustainability reforms, highlighting partnerships with the SECP over the past three years, and welcomed the formation of a unified Advisory Forum as a timely step to drive the agenda forward.
They also stressed the importance of sustained collaboration and accelerating capacity-building to fast-track the adoption of international sustainability reporting standards, with phased implementation scheduled to begin in July 2025. The Group emphasized the need to address existing gaps, establish clear KPIs to track progress, and maintain ongoing engagement with all key stakeholders.
Further, the Group committed to facilitating active partnerships to support the Women EquiSmart Policy action plan, aimed at mainstreaming gender-smart reforms across SECP-regulated sectors.
The Advisory Group will serve as a high-level platform for continuous dialogue, meeting quarterly to review progress and co-develop solutions to advance sustainable business practices in Pakistan.
