ESG is no longer a Choice; it is Imperative Companies, both globally and in Pakistan, have a heightened awareness of environmental, social and governance (ESG) issues as investors, regulators, employees, and the community at large are demanding greater transparency and board accountability. Organizations that prioritize ESG can drive value and mitigate risks to operations and the bottom line over time.
New mandatory reporting standards are fast approaching and, where it’s not mandatory, lenders and investors are still withdrawing funding from, and voting against, businesses not considering ESG. Several reporting frameworks, ecolabels and standards now dominate the ESG narrative, and investors have increasingly demanded companies adhere to reporting outlines which are measurable, comparable, transparent, and holistic.
The regulatory landscape is also under a shift wherein companies are now transitioning from voluntary to compulsory reporting; in Pakistan, from our journey to disclose CSR activities in annual financial statements
through the ‘Corporate Social Responsibility (CSR)-Order, 2009’ to the adoption of the UN SDGs and implemented sustainability initiatives under ‘Pakistan Vision 2025’ and a corresponding reporting requirement under corporate law.
ESG is at the heart of everything we do at KPMG and as our contribution to creating a positive impact our Impact Plan catalogues all our ESG commitments across our global organization and shows the progress we’ve made together over the last 12 months in each of our four priority areas: Governance, People, Planet and Prosperity. We analyze what we can and should be doing to meet our responsibility to help shape a better future by doing what we do best –solving problems to make lasting, meaningful change.
Each of us has the ability to take ownership and lead on these issues, and we through this workshop are proud to highlight how we can make a better impact in whatever we do for the people, planet and prosperity.