ENSOGOV & British Deputy High Commission Karachi arranged an exclusive gathering of corporate leaders to discuss the adoption of the ESG frameworks and sustainability practices in Pakistan. The event was held on 20th July 2022 at Acton House British Deputy High Commission Karachi. Corporate leadership from the financial sector, banking, textile, FMCG, manufacturing, technology and development sector gathered at the event organised by ENSOGOV, British Deputy High Commission, Karachi, in partnership with ACCA, Nutshell Group, SEED Ventures and Matriarch Ventures under the title “Simplifying the ESG journey for businesses”.
The leaders, in general, discussed that the operating context for organisations implementing environmental, social and governance (ESG) strategies is changing exceptionally fast. There are pressures from investors, customers, employees and regulators to take substantive action and strengthen reporting and disclosures.
Dr. Shamshad Akhtar, Chairperson of Pakistan Stock Exchange, PICG and Former Federal Minister, stressed creating a national-level ESG framework for Pakistan to bring harmony and comparability.
Sadia Sajjad, Country Manager UK, Ireland, Denmark and Malta, IFC, Jonathan Freeman, CEO, Sustainability Director, CareTech plc; Managing Director, Earlsbrook Consulting Limited, Muhammad Azfar Ahsan, Founder, Nutshell Group & Corporate Pakistan Group, Former Minister of State & Chairman, Board of Investment and Maheen Rahman, CEO InfraZamin Pakistan stressed on the urgency climate action and adoption of ESG framework.
Muhammad Ali Tabba, CEO of Lucky Cement Limited and Yunus Textile Mills Limited, part of YBG business conglomerate, Shazad Dada, CEO and President of UBL, Farrukh H. Khan, MD & CEO, Pakistan Stock Exchange, Naz Khan , Chief Strategy Officer, K-Electric, Shaista Ayesha, CEO, SEED Ventures, Assad Hameed, Head of ACCA Pakistan discussed the success and progress of sustainability and ESG frameworks’ adoption in Pakistan.
Corporate leaders and participants appreciated the efforts of ENSOGOV (in simplifying the ESG journey for businesses in Pakistan. ENSOGOV is an ESG tech and data-led startup delivering a bitesise sprint model to accelerate ESG transitions for companies in Pakistan and abroad.
The main aim of the discussion is to gather companies under one roof and let them discover new sources of competitive advantage by focusing on benefits and embedding sustainability in the business and across the value chain.
Mike Nithavrianakis, British Deputy High Commissioner, Karachi, shared his views at the launch event of ENSOGOV “The environmental, social, and governance challenges the world faces today are complex, alarming and urgent. Businesses must make bold commitments, build robust plans and take tangible actions. Boards have the primary role of simplifying ESG adoption and benchmark the progress against global standards.”
“A strong sustainability strategy transforms a company’s relationships with its workforce, suppliers and customers, and resources utilisation models and creates long-term value for all its stakeholders”. Faraz Khan, Founder and CEO of ENSOGOV.
The companies are embracing sustainability and ESG to break harmful practices, accelerate business and societal transformation, and create value. This transformation focuses on long-term value creation for the company and its stakeholders and the broader environmental and human context in which it operates. By focusing on benefits — sustainable and circular product cycles, equitable employment, sustainable sourcing, investment in innovation — and embedding sustainability, companies in the vanguard are discovering new sources of competitive advantage.