PSX issues ESG primer for listed companies

April 17, 2024 (MLN): The Pakistan Stock Exchange (PSX) has taken yet another major step in realizing its vision of ESG readiness for listed companies by issuing the PSX Primer on Environmental, Social & Governance (ESG), said a press release issued today.

The sector agnostic Primer on ESG is a detailed booklet and first of a series of publications meant for guiding listed companies on reporting on ESG.

The PSX Primer enables listed companies to understand ESG opportunities and risks, and educates stakeholders on the usage of ESG data while providing guidance to listed companies on producing a Sustainability Report.

This is in line with the roadmap and guidance framework of the SECP to promote and encourage ESG reporting among listed companies. 

Speaking at the occasion of the launch of the PSX Primer on ESG, the MD & CEO PSX, Farrukh H. Khan, stated, “PSX has taken a tremendous leap forward in its efforts to materialize its vision on ESG reporting by listed companies."

Subsequent to several steps taken by PSX on the ESG front such as the establishment of the ESG Taskforce, among others, PSX has now issued guidelines in the shape of the PSX Primer on ESG for listed companies, he said.

This is the first of a series of guidelines which will go a long way to help listed companies understand and report on ESG, as well as comprehend its risks and opportunities, whilst helping investors obtain information on ESG to make informed decisions in the context of their present and future investments, he further added.

Delivering the keynote address, Shamshad Akhtar, Chairperson PSX, stated, “It is a proud moment for PSX and for myself that after extensive advocacy and deliberations, the Exchange has managed to introduce the PSX ESG Primer and Reporting Guidance document."

She added, "It is the beginning of a new journey in partnership with our industry. I count on our listed companies to embrace and deploy it."

She was of the view that ESG Guidance has the potential to foster a culture of responsible and sustainable business practices which support PSX"s listed companies’ potential to generate and use ESG data effectively and navigate through the complexity of accounting and estimation of ESG, assessment of ESG risks and opportunities.

She noted that it will also help harness and exploit the potential of ESG innovation to enhance companies’ domestic and external competitiveness”.

Shamshad Akhtar further stated, “Listed companies will find everything that is out there in terms of the methodology for reporting in this ESG Primer & Reporting Guidance document. I extend my warmest congratulations to the PSX team and all stakeholders on the launch of the ESG Primer and Reporting Guidance.”.

Copyright Mettis Link News