SECP directs listed companies to implement anti-harassment policy

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has directed listed companies to implement an anti-harassment policy to safeguard the rights and well-being of employees under the Protection Against Harassment of Women at the Workplace Act 2010.

The SECP has issued SRO (I)/2024 to amend Listed Companies (Code of Corporate Governance) Regulations, 2019.

According to the revised regulations, the listed companies should implement Code of Conduct for protection against harassment at the workplace. Other measures included formation of an Inquiry Committee to enquire into complaints in this regard; designation of a competent authority; and display copies of the Code of Conduct in English as well as in language understood by the majority of employees at a conspicuous place.

The revised regulations revealed the role of the Board and its members to address Sustainability Risks and Opportunities.

The Board is responsible for governance and oversight of sustainability risks and opportunities, which includes the environmental, social and governance considerations, within the company by setting the company’s sustainability strategies, priorities and targets to create long term corporate value.

The Board is also encouraged to adopt of SECP’s ESG Disclosure Guidelines.

The Board ensures that policies to promote diversity, equity and inclusion (DE&I) are in place to encourage gender mainstreaming, gender equality and the participation of women on the Board, management and workforce of the company.

The Board takes appropriate measures to proactively understand and address the principal as well as emerging sustainability risks and opportunities relevant to the company and its business, including climate-related risks and opportunities, assess their potential financial and operational impacts and implement strategies for management and mitigation thereof.

The Board ensures that the company’s sustainability and DE&I related strategies, priorities and targets as well as performance against these targets are periodically reviewed and monitored.

In order to effectively discharge its sustainability related duties, the Board may establish a dedicated sustainability committee having at least one female director, or assign additional responsibilities to an existing Board committee, the SECP added.

Copyright Business Recorder, 2024