Climate Finance Pakistan Joins TI Pakistan’s Virtual Report Launch
Transparency International (TI) Pakistan hosted a virtual event to launch its 2024 Transparency in Corporate Reporting (TRAC) report, bringing together regulators, private sector leaders, and governance experts. The session featured research and analysis presented by Dawar Hameed of Climate Finance Pakistan, who emphasized that transparency and accountability are not just regulatory checkboxes but fundamental to building investor trust and long-term economic resilience.
The TRAC index assessed 69 listed companies, revealing an overall average score of 7.23 out of 10. While 26 companies were found to be significantly transparent, the majority remained moderately or partially transparent, and three were rated as slightly transparent. A key concern raised was that only 34 companies reported on ESG practices solely to meet SECP requirement reflecting a narrow, compliance-driven approach to sustainability disclosure.
The report recommended comprehensive reforms to strengthen integrity and disclosure standards. These include the implementation of whistleblower systems and regular anti-corruption training, enhanced CSR and grievance reporting with financial data and protection mechanisms, and public disclosure of CSR spending, taxes, and subsidiary operations.
It also called for greater transparency in promotion policies and workplace harassment procedures to advance gender equity, and the public accessibility of bidding processes and government contract performance audits to improve accountability. TI Pakistan’s initiative sets an important benchmark for responsible corporate governance. As the country navigates economic uncertainty and seeks to unlock sustainable finance, embedding transparency across governance, ESG, and operational practices will be essential for securing investor confidence and fostering long-term growth.