Workshop held on ESG framework for Pakistan

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) and the Pakistan Business Council (PBC) have hosted a design sprint on best practices needed to develop an effective environmental, social, and governance (ESG) framework for Pakistan, a statement said on Tuesday.

The two-day workshop was facilitated by Unilever Pakistan Limited,with an objective to help the participants develop strategies and frameworks to

make their businesses resilient to environmental, social and governance issues in the post-pandemic world.

Participants of the session included local and multi-national organisations.

The design sprint apprised the participants about risk mitigation and navigation approaches, drafting a blueprint for organisational strategy, and establishing an ESG internal governance framework.

The workshop concluded with a dialogue on ESG policy needed in the country, with stakeholders including Chairman Securities and Exchange Commission of Pakistan, Aamir Khan, Chairperson and Independent Director, Pakistan Stock Exchange,

Dr. Shamshad Akhtar, CE/Secretary General OICCI, M Abdul Aleem, CEO Pakistan Business Council, Ehsan Malik, and Chairman and CEO Unilever Pakistan, Amir Paracha.

Speaking on the occasion, M Abdul Aleem said, “OICCI members not only bring investment, breakthrough technologies, global business practices and knowhow to Pakistan but are also leading the social and climate agenda through thought leadership.”

OICCI member companies were also involved in other climate initiatives such as conversion to alternate energy sourcing, reducing waste, promoting circular economy,

etc. through sustainable business practices, he added.

Ehsan Malik was of the view that businesses in the private sector could use the platform for advocacy and capacity building to enable the industry and the financial sector to take actionable steps and learn from each other.

Amir Paracha said the the 21st-century innovation and technological revolution had brought most critical challenges and changes in human behaviour.

“As we now concentrate on our relationship with the planet, our impact and demands on ESG become the most urgent and critical management approach to adopt as a sustainable solution.”

The workshop also featured expert sessions from McKinsey’s Robin Nuttall, Saif Hameed from Altruistiq, Partner KPMG Syed Ahson Ali Shah, Maha Qasim from Zero Point and Centre of Excellence in Responsible Business.