On July 23, 2025, the Serena Hotel Islamabad became the epicenter of a transformative dialogue on sustainability, as key players from Pakistan’s financial and corporate sectors gathered for the ESG Awareness Workshop, jointly organized by the International Finance Corporation (IFC) and the Securities and Exchange Commission of Pakistan (SECP). This half-day event marked a critical step toward embedding Environmental, Social, and Governance (ESG) principles into Pakistan’s corporate DNA.

Why ESG Now?

Pakistan faces increasing environmental challenges and heightened climate risks, ranking as the 8th most climate-vulnerable country globally. With an estimated US$348 billion required for climate resilience and low-carbon transition by 2030, sustainable business practices are not optional—they are essential. Recognizing this, the IFC launched its three-year ESG Pakistan project, targeting capital markets and the banking sector to align local firms with international ESG benchmarks and attract climate-aligned investments.

Event Highlights

🔹 Opening Remarks

Zeeshan Sheikh, Country Manager for IFC Pakistan & Afghanistan, set the tone by underscoring the urgency for companies to move beyond compliance and toward proactive ESG integration to ensure long-term business success.

🔹 Session I: The SECP’s Regulatory Leadership

Akif Saeed, Chairperson of SECP, presented the regulator’s strategic roadmap:

• Introduction of the 2023 ESG Disclosure Guidelines

• Reforms to the Code of Corporate Governance Regulations (2019)

• Future initiatives aimed at advancing ESG in capital markets

These reforms are designed to increase transparency, accountability, and investor confidence, encouraging companies to make structured ESG disclosures.

🔹 Session II: IFC’s Sustainability Framework

Mohsin Ali Chaudhry, Leader of the ESG Pakistan Project, emphasized:

• The business case for ESG and how good practices unlock access to climate finance

• The IFC Sustainability Framework and Corporate Governance Methodology

• The project’s role in aligning Pakistani firms with global climate investment trends

🔹 Session III: Global ESG Disclosure Standards

Ralitza Germanova, a global leader in ESG disclosure, provided a deep dive into:

• Frameworks like IFRS Sustainability Standards, Corporate Sustainability Reporting Directive (CSRD), and Global Reporting Initiative (GRI)

• The movement toward globally consistent ESG disclosures

• Strategies to harmonize international standards with local regulatory needs

🔹 Panel Discussion: Challenges & Opportunities in Pakistan

Moderated by Mohsin Ali Chaudhry, this session brought together thought leaders including:

• Musarat Jabeen (SECP)

• Farrukh Rehman (ICAP)

• Assad Hameed Khan (ACCA Pakistan)

• Caroline Bright (IFC ESG Advisory Lead)

• Navid Goraya (Karandaaz Pakistan)

The panel explored practical challenges companies face, such as limited ESG literacy, evolving disclosure expectations, and financing gaps. However, they also pointed to opportunities: ESG as a differentiator in global markets, a tool for stakeholder trust, and a magnet for green capital.

A Forward Path

By the end of the workshop, participants left with a stronger grasp of ESG’s strategic value—not just as a compliance requirement but as a catalyst for resilience and sustainable growth. Through collective action by regulators, investors, and companies, Pakistan can foster a thriving ESG ecosystem aligned with both global standards and local priorities.

Final Thoughts

This workshop wasn’t just a knowledge-sharing event—it was a call to action. For Pakistani firms, the ESG journey is both a responsibility and a competitive advantage. With strong regulatory support from SECP and the strategic guidance of IFC, the path toward sustainable and profitable business practices is clearer than ever.