PSX Issues ESG Primer For Listed Companies

The Pakistan Stock Exchange (PSX) has taken yet another major step in realising its vision of ESG readiness for listed companies by issuing the PSX Primer on Environmental, Social & Governance (ESG)

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Apr, 2024) The pakistan stock exchange (PSX) has taken yet another major step in realising its vision of ESG readiness for listed companies by issuing the psx Primer on Environmental, Social & Governance (ESG).

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, according to PSX press statement received here Wednesday.

The PSX Primer would enable 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, MD and CEO PSX, Farrukh H. Khan said the exchange has taken a tremendous leap forward in its efforts to materialise 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.

Farrukh said, this was 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”.

Speaking on the occasion, Chairperson PSX, Dr. Shamshad Akhtar said that it was 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.

It is the beginning of a new journey in partnership with our industry, she said adding ESG Guidance has potential to foster a culture of responsible and sustainable business practices which support our 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. It will also help harness and exploit the potential of ESG innovation to enhance companies’ domestic and external competitiveness”.