Using Community Investment Reporting to Foster Good Will in International Investment
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The oldest and largest investment organization in Pakistan, the Overseas Investors Chamber of Commerce and Industry, founded in 1860, has published a report “to spotlight the impactful social contributions of leading foreign investors operating in Pakistan, aligning with the United Nations Sustainable Development Goals (SDGs). These efforts play a crucial role in supporting the socio-economic development of local communities."
Another purpose is to share the knowledge as foreign investors stay ahead of the curve on the social issues and bringing solutions to those in line with global best practices,” explains Zahid Mubarik, member the Pakistan Stock Exchange Task Force on ESG (environmental, social, governance); Founder and CEO of HR Metrics, a prominent Pakistan-based human capital metrics firm and a provider of certification services for Society of Human Resources Management (SHRM) and ISO 30414 human capital standards.
Click here to access the OICCI report. Given that many large companies will have to disclose this information under the new European Union Corporate Sustainability Reporting Directive, expect to see the creation of many more similar reports around the world with an increasing emphasis on standardized reporting practices.
Mubarik adds that “Members of OICCI, over 200 top foreign investors, collectively pay one-third of the entire country’s tax and levies and contributed nearly 46.7 million Pakistani Rupees to corporate sustainability activities in 2023 alone. As a chamber, OICCI is focused on attracting FDI (foreign investment) by showcasing the performance of existing foreign investors to improve Pakistan’s economy.”
The OICCI has “shared this report with relevant stakeholders which include key ministries such as Finance, Industries, Information and Human Rights etc.; international organizations including World Bank Pakistan, IMF (International Monetary Fund) Pakistan, and UN Development Program, Pakistan etc., as well as embassies, academia, think tanks, media and key social sector organizations. Summaries of the report are also shared in OICCI social media.
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