Reducing environment related challenges: Businessmen asked to take protective measures

Speakers at a seminar asked the business community to take protective measures for reducing the environment related challenges, saying that the unchecked industrial growth is posing serious threat to the earth. The seminar "ACCA-WWF Business Earth Talk" was arranged by ACCA Pakistan in collaboration with WWF here on Friday to mark the Earth-Day, which was attended by a large number of leading Pakistani business community.
The event encompassed discussion forums 'Climate Change: A Business Challenge or Opportunity' and 'Predicting the Future: Annual Report 2030,' followed by the ninth annual ACCA-WWF Pakistan Environmental Reporting Awards (PERA) ceremony. Speaking as chief guest Federal Minister for Environment Samina Khalid Ghurki, lauded the hardwork of all the companies which participated in the event.
She distributed the annual ACCA-WWF Pakistan Environmental Reporting Awards 2010 (PERA) among the winning companies that report on corporate environmental, social and sustainability performance to a broad range of stakeholders. The winners for 2010 were Engro Corporation Limited for the best sustainability report, National Refinery Limited, for the best environmental report and LAL PIR Power Limited for the best environmental report in the unlisted category. Attock Refinery Limited was awarded commendation for commitment to excellence in sustainability reporting whereas Security Papers Limited received commendation for commitment to environmental reporting.
Ghurki said that the business community also has to play a vital role in providing the desired stimulus and support the efforts of the government of Pakistan to successfully overcome the challenges of the 21st Century.
The discussion forum on Climate Change: A Business Challenge or Opportunity' panellists including Director General, WWF Pakistan Ali Hassan Habib focused on the challenges that business face in view of the climate change, businesses survival, sustainability of natural resources and government-NGOs-business partnerships. Federal Minister Ghurki also said that it is imperative that Pakistani companies also meet their environmental obligations while introducing and pursuing transparent reporting system to remain competitive in global market.
She was of the view that the Ministry of Environment has always encouraged the environment-friendly activities throughout the country. Ministry of Environment always plays its leading role in promoting awareness in the society. She said, "They deserve special acknowledgement who contributed for better corporate governance and a healthier economic growth."
The event commenced with welcome address by Arif Masud Mirza, Head of ACCA Pakistan. He added that events like this raise environmental awareness in the corporate sector, even after nine years of presenting the PERA awards, promoting sustainability will continue to be a key ACCA and WWF commitment.
The discussion forum, 'Climate Change: A Business Challenge or Opportunity' deliberated over the possible role of the business community in Pakistan in undertaking initiatives aimed at raising awareness of commitment to climate change and whether it presents a business challenge or opportunity.
The panellists for this discussion included Ali Hassan Habib, Director General, WWF Pakistan, Arif Masud Mirza, Head of ACCA Pakistan, Parvez Ghias, Chief Executive Officer, Indus Motor Company Limited, Shah Murad, Country Representative, IUCN - Pakistan and Azhar Ali Syed, Managing Director, Tetra Pakistan Ltd.
The panel discussion focused on the challenges that businesses face in view of the climate change causing unpredictable weather conditions, carbon emissions, water scarcity and imprudent water usage. It was concluded that, for businesses survival, sustainability of natural resources is essentially important. Government-NGOs-business partnerships would lead to effective management of climate change challenges.
The second discussion forum, 'Predicting the Future: Annual Report 2030,' deliberated on how stakeholders' expectations of transparency in reporting businesses performance has increased since the financial crisis and how reporting models intending to enhance transparency in business reporting require serious consideration and evaluation if business is to remain globally competitive.
The panel discussion concluded that as the corporate objective changes from shareholder value maximisation to creating shared values, reporting would change from being regulation driven to corporate stakeholders shared values driven. The future of voluntary reporting in Pakistan is optimistic as evidenced by the increasing influence of ACCA-WWF Pakistan Environmental Reporting Awards. The ninth annual ACCA-WWF Pakistan Environmental Reporting Awards 2010 ceremony recognised and awarded companies that report on corporate environmental, social and sustainability performance to a broad range of stakeholders.