The Securities and Exchange Commission of Pakistan (SECP) on Wednesday issued revised Environmental, Social and Governance (ESG) Disclosure Guidelines for listed companies, aligning corporate reporting requirements with the Pakistan Green Taxonomy (PGT). The updated guidelines, published on the SECP website, aim to strengthen sustainability reporting and support Pakistan’s climate transition.
The SECP said the revised guidelines reflect national climate priorities and Pakistan’s updated Nationally Determined Contributions, which include commitments to emissions reduction, expanded renewable energy and stronger climate resilience. The new framework positions the corporate sector to play a central role in achieving these national climate targets.
Under the revised guidelines, listed companies are required to disclose climate-related risks, opportunities and activity-level data consistent with the PGT, which identifies environmentally sustainable economic activities. The guidelines also provide practical instructions on applying the taxonomy, including identifying relevant activities, assessing alignment with environmental objectives and reporting the information appropriately.
The SECP said the disclosures will remain voluntary until June 2029, after which they will become mandatory through a phased implementation plan. The regulator noted that sustainability reporting—particularly taxonomy-aligned data collection and assessment—requires technical expertise, and it will continue to support companies through capacity-building initiatives, awareness programmes and stakeholder engagement.
According to the SECP, the revised framework will improve the credibility, comparability and usefulness of climate-related disclosures in Pakistan’s capital market. The regulator said enhanced reporting standards are expected to boost investor confidence and contribute to the country’s broader sustainable development goals, supporting Pakistan’s transition toward a greener and more resilient economy.
