Islamabad, 21 June 2023 (TDI): Faysal Bank, guided by its Islamic values and core philosophy of equity and well-being, has joined hands with the Pakistan Institute of Corporate Governance (PICG) to contribute to the adoption of sustainable practices in Pakistan.
Climate change is an undeniable reality, and Pakistan finds itself at the forefront of the global battle against its adverse effects. Recognizing the collective responsibility of the private sector, Faysal Bank aims to play a pivotal role in creating an environmentally sustainable Pakistan for future generations.
This encompasses addressing environmental concerns, promoting social and financial inclusivity, ensuring health and well-being, fostering equity, and upholding human rights.
Today, successful businesses operate within the framework of Environmental Social Governance (ESG) guidelines, attracting the attention of investors, regulators, litigators, and community representatives.
Faysal Bank, deeply rooted in its Islamic principles, is dedicated to making a positive impact on society as a responsible corporate citizen. With a recent focus on the environment, the bank acknowledges the significance of ESG standards in shaping the country’s future and the well-being of its people.
In line with its core values, Faysal Bank has forged a collaborative partnership with PICG to develop a comprehensive ecosystem that encompasses capacity building, research, and advisory services.
Yousaf Hussain, President and CEO of Faysal Bank, expressed his pride in the partnership, stating, “Faysal Bank has always been committed to its core Islamic values, which prioritize care. We continually strive to create a positive impact, including our recent emphasis on the environment.
Understanding and implementing ESG standards, with a particular focus on the environment, will lay the foundation for our country’s future and the well-being of the next generation. We are honored to collaborate with PICG and PSX (Pakistan Stock Exchange) to bring about this positive change and establish an ESG Scorecard.”
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Dr. Shamshad Akhtar, Chairman of PICG and PSX, emphasized the integration of corporate sustainability and accountability, urging businesses to adopt and implement ESG standards and reporting.
Recognizing PICG’s pivotal role in developing the ESG ecosystem in Pakistan, the collaboration with Faysal Bank will enhance PICG’s technical capabilities, enabling the translation of its ESG mission into an action plan for the financial and corporate sectors.
Through strategic interventions, PICG will conduct research, offer corporate advisory services, and provide capacity building to promote ESG strategy and implementation.
Faysal Bank shares the vision of making ESG adoption an equally important contribution to the financial sector, addressing the diverse needs of its customers throughout the country.
By working hand in hand, Faysal Bank and PICG are poised to create a sustainable future for Pakistan, integrating ESG principles into business practices and fostering responsible growth across industries.
