In 2021, the Water and Power Development Authority (WAPDA) successfully raised $500 million from the sustainability international markets through the country’s first green bond issuance powered by HBL.
Last month, earned wage access market leader Abhi raised $7 million through the first-ever Sukuk bond for a fintech in the Middle East, Africa, and Pakistan (MENAP) region.
From July 2023, Arif Habib Limited has set an ambitious target to help specialized microfinance institution Kashf Foundation raise roughly $8.75 million through the country’s first SECP-regulated gender bond issuance powered by InfraZamin Pakistan.
The use of bonds in both cases has its roots in a weak capital market and is driving the trend toward sustainable business practices across all sectors, particularly in commercial real estate. The success of these bonds shows the shift towards sustainability is driven by a combination of economic and social factors, including cost savings, risk mitigation, consumer demand, and access to credit and capital.
This explains the recent realignment of TPL Group towards adopting sustainable practices, led by CEO Ali Jameel. As first reported by Hamari Web, Jameel has ensured the sustainability of projects by TPL Properties Ltd, which has fully integrated Environment, Social & Governance (ESG) principles into its real estate developments and the communities in which it invests.
The CEO’s commitment to sustainability has led to several notable achievements, including One Hoshang, a TPL Properties project, which won the prestigious 5-star Best Residential High-Rise Architecture award at the Asia-Pacific Property Awards 2022-2023.
The success of TPL Properties in integrating ESG principles into its developments is a testament to the CEO’s leadership and commitment to innovation and change. By prioritizing sustainability and social responsibility, he has positioned the company for long-term success in the highly competitive real estate market.
Satya Nadella, CEO of Microsoft, has focused on transforming the company’s culture to encourage
innovation and experimentation. Under Nadella’s leadership, Microsoft has shifted its focus from a
Windows-centric model to a cloud-based, open-source approach, emphasizing collaboration with other
companies and organizations to create new opportunities and drive innovation.
This has led to significant growth for the company, with Microsoft’s market capitalization surpassing $2 trillion in 2021. Another example of CEO-led innovation and change is Unilever’s focus on sustainability. CEO, Alan Jope has set ambitious goals for the company, including becoming carbon positive by 2030 and ensuring that all its products are recyclable, reusable, or compostable by 2025.
To achieve these goals, Unilever has implemented various sustainability initiatives, including reducing plastic waste, investing in renewable energy, and partnering with other organizations to promote sustainable agriculture.
As the business world becomes increasingly complex and changes rapidly, CEOs play a crucial role in guiding their organizations toward transformation and innovation.
CEOs must foster an environment that promotes innovation and technology, prioritize sustainability, build strong teams, and embrace change to ensure their companies remain ahead of the curve and thrive in the global marketplace.