In the report, ICAP is presenting the results from consultations conducted with companies, auditors and other stakeholders in Pakistan on the adoption and implementation of the ISSB standards. 

ICAP recommends that the ISSB standards are adopted in Pakistan with the following timeline:

• For periods beginning on or after 1 January 2025 for large companies;
• For periods beginning on or after 1 January 2026 for medium-sized companies; and
• For periods beginning on or after 1 January 2027 for all other listed companies.

The size criteria for 'large' and 'medium-sized' are set out in the report. It is recommended that in the first year of application entities will only have to disclose climate-related information (except information on Scope 3 emissions). From the second year, disclosures on all sustainability-related topics, including on Scope 3 emissions, would be required. 

Assurance would be required in accordance with the International Standard on Sustainability Assurance (ISSA) 5000 General Requirements for Sustainability Assurance Engagements from the second year of reporting.

Please click to see the full report on the ICAP website.