ACCA and Pakistan Business Council Urge Swift Action on Sustainability

Business Reporter

Karachi: Pakistan must act urgently to embed sustainability into its economic model in order to fully leverage global trade, investment, and growth opportunities, according to a new report by the Association of Chartered Certified Accountants (ACCA) and the Pakistan Business Council (PBC).

The report, titled Building a Case for Green Business in Pakistan, combines expert insights, survey findings, and industry case studies to highlight why businesses need to accelerate the adoption of sustainability practices and reporting. This comes as Pakistan prepares to implement the IFRS Sustainability Disclosure Standards (S1 and S2) from July 2025, a reform set to reshape how ESG information is reported and evaluated by global investors.

Helen Brand, Chief Executive of ACCA, stressed the pivotal role of finance professionals:

“The accountancy profession has a central role to play in driving the transition to more sustainable businesses and economies — building trust and transparency through effective, credible reporting. Finance professionals in Pakistan must now rise to this challenge.”

The report reveals that 71% of surveyed businesses in Pakistan already disclose some form of ESG information, showing early momentum. However, challenges around data quality, reporting consistency, and investor confidence remain.

It identifies five enablers critical for building a green economy: policy coherence, investor readiness, reporting capability, assurance, and technology.

Javed Kureishi, CEO of PBC, added:

“A just and inclusive green transition is possible, but it requires shared responsibility. We must work together — businesses, government, and the finance profession — to unlock green capital and future-proof our industries.”

The report also features case studies from Pakistan’s green bond market, ESG reporting history, and examples of how companies can prepare for sustainability assurance and new reporting standards.

Key calls to action include:

• Fast-tracking the implementation of IFRS S1 and S2
• Building capacity in ESG reporting and assurance
• Enhancing green finance instruments to support business transition
• Promoting integrated policy frameworks that align economic growth with climate goals

Business Reporter