DHAKA: Experts at a recent workshop have emphasized the need to strengthen environmental, social, and governance (ESG) disclosure practices in Bangladesh to promote greater transparency, investor confidence, and sustainable development. The call was made during a workshop on 'International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards', held at the Dhaka Stock Exchange (DSE) multipurpose hall. According to Bangladesh Sangbad Sangstha, the Dhaka Exchange PLC, in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, organized the event. The workshop saw participation from chief financial officers, company secretaries, and senior officials from listed companies. This initiative is designed to align Bangladesh's capital markets with global ESG standards, thereby enhancing transparency and sustainable development while bolstering investor confidence. The Swiss State Secretariat for Economic Affairs (SECO), through the Embassy of Switzerland, su pported the workshop, highlighting the importance of international collaboration. Their commitment, coupled with IFC's expertise in ESG leadership and partnerships with standard-setting bodies like the IFRS Foundation, underscores the significance of strategic partnerships in overcoming local challenges and adopting global sustainability standards. Mominul Islam, Chairman of Dhaka Stock Exchange PLC, remarked that the IFRS Sustainability Disclosure Standards represent a transformative step towards aligning Bangladesh's capital markets with global best practices in ESG reporting. He emphasized that the workshop signifies a commitment to transparency and accountability in sustainability disclosures, paving the way for informed investment decisions and a sustainable future. Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan, and Nepal, highlighted IFC's long-standing role in shaping the global ESG landscape. He expressed pride in supporting strong corporate governance and environmental and social stan dards in Bangladesh through investments and advisory programs, working closely with clients, regulators, and stakeholders. The workshop serves as a pivotal step towards integrating ESG considerations into financial decision-making, illustrating the important role of collaboration between regulators, issuers, and stock exchanges in driving sustainable practices nationally. Farzana Lalarukh, Commissioner of Bangladesh Securities and Exchange Commission (BSEC), reiterated BSEC's commitment to ensuring high standards of disclosure are met, considering Bangladesh's business needs and context. She acknowledged IFC's support in improving the capacity and training of listed companies in Bangladesh for better sustainability reporting and disclosure practices. In his address, FRC Executive Director Mohammad Anwarul Karim noted the interrelated nature of financial reporting and auditing, emphasizing FRC's role as an umbrella organization among various entities in Bangladesh.
