SAFA board approves ESG framework (Version 1) for public-sector entities in South Asia

Mr. Zia ul Mustafa Awan, Chairman of the SAFA Public Sector Advisory Committee, has stated that the Board of the South Asian Federation of Accountants (SAFA), during its 93rd meeting held in Colombo, Sri Lanka, approved the landmark Framework titled “ESG Framework (Version 1) for Public Sector Entities in the South Asian Region.”

The framework was developed through a collaborative regional team comprising representatives of SAFA member bodies from Pakistan, Bangladesh, India, Nepal, Sri Lanka and the Maldives.

Mr. Zia ul Mustafa Awan said that the Framework provides practical and regionally relevant guidance for integrating Environmental, Social and Governance (ESG) considerations into the policies, strategies and operations of public-sector entities. The framework covers ESG governance, regulatory requirements, performance indicators, reporting and disclosures, assurance and audit, as well as a phased implementation roadmap.

He observed that the framework would be particularly beneficial for public-sector entities in Pakistan by helping them strengthen transparency, accountability, sustainability, institutional resilience and public-service delivery in accordance with international best practices.

He termed the approval an important milestone in advancing responsible and sustainable public-sector governance across Pakistan and the wider South Asian region.