RN Desk: The Dhaka Exchange PLC (DSE), in collaboration with the International Finance Corporation (IFC), successfully hosted the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards Workshop on November 18, 2024, marking a significant step towards strengthening environmental, social and governance (ESG) disclosure practices in Bangladesh.

Chief Financial Officers, Company Secretaries and Senior Officials of listed companies participated in this program. This initiative aims to align the country’s capital markets with global ESG Standards, fostering greater transparency, investor confidence, and sustainable development.

The workshop was made possible with the support of the Swiss State Secretariat for Economic Affairs (SECO) through the Embassy of Switzerland in Dhaka. Their commitment, alongside IFC’s expertise in ESG leadership and global partnership with standard-setting bodies such as the IFRS Foundation, underscores the importance of strategic partnerships in addressing local challenges and enabling the adoption of global sustainability standards.

By adopting this global standard, Bangladesh aims to empower its private sector to share consistent and comparable ESG and Sustainability-related data, boosting investor trust and positioning the nation as a competitive destination for sustainable investment.

“The IFRS sustainability Disclosure standards mark a transformative step toward aligning Bangladesh’s capital markets with global best practices in ESG reporting.

This workshop underscores our commitment to fostering transparency and accountability in sustainability Disclosures, paving the way for more informed investment decisions and a resilient, sustainable future for our economy” Said Mr. Mominul Islam, Chairman, Dhaka Stock Exchange PLC.

“IFC has been at the forefront of shaping the global ESG landscape for decades, “said Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan and Nepal. “In Bangladesh, we are proud to support the adoption of strong corporate governance and environmental and social standards through our investments and advisory programs, working closely with clients, regulators, and stakeholders to build capacity and drive positive change.”

Speaking as Chief Guest Ms. Farzana Lalarukh, Commissioner, Bangladesh Securities and Exchange Commission (BSEC) expressed BSEC’s commitment to ensuring that the highest standard of disclosure is met by the regulators and standard setting bodies keeping in mind the Bangladesh business needs and context.

“I am pleased to note that IFC has extended its support to improve the capacity and training needs of listed companies in Bangladesh to ensure that companies are able to develop a roadmap for their Sustainability Reporting and improve their disclosure practices using globally recognized standards” she added.

Other speakers included Mr. Sattique Ahmed Shah, Managing Director (Acting), Mr. Khairul Bashar Abu Taher Mohammed, Chief Regulatory Officer, Mr. Md. Samiul Islam, Chief Operating Officer (in-charge) from Dhaka Stock Exchange; Mr. Mohammed Anwarul Karim, Executive Director, Financial Reporting Council; and Ms. Kalyani Santosh Kumar, Senior Corporate Governance Officer, IFC.