Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Social Achievements

• JSCL carries out its philanthropic activities in partnership with Mahvash & Jahangir Siddiqui Foundation and Future Trust.
• Mahvash & Jahangir Siddiqui Foundation (MJSF) educational programs focus on providing support for higher education, mainstream education including schools for children with special needs, vocational training, and specialized summer exchange programs.
• MJSF established 'Jahangir Siddiqui Hospital' at Sehwan Sharif, Sindh.
• MJSF supports provision of free healthcare to the underprivileged.
• Future Trust provided financial support to JS Academy for the Deaf, ASD Welfare Trust, Karigar Training Institute, Allama Ghulam Mustafa Qasmi Chair, University of Sindh, Cadet College Hasan Abdal, Milestone Charitable Trust, Markaz-e-Umeed, and Pakistan China Institute.
• Future Trust supported Thar Education Festival and Thar Educational Conference.
• JS Bank planted 100,000 plants in collaboration with WWF Pakistan.

Governance Achievements

• The Board of Directors is committed to strong corporate governance.
• The Board has constituted highly effective Audit, Human Resource & Remuneration and Executive Committees.

Climate Goals & Targets

Environmental Challenges

• Significantly rising interest rates proved challenging for the Company.
• Macroeconomic scenario with factors such as higher inflation and a weakening local currency are continuing to prove burdensome for corporate profitability.

Mitigation Strategies

• The Company views that its investments, especially in banking and insurance sectors, along with energy, telecommunication, media and technology and infrastructural sectors via its subsidiaries will continue to contribute significantly and positively towards enhancing shareholders’ value.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Listed Companies (Code of Corporate Governance) Regulations, 2019

Third-party Assurance: EY Ford Rhodes Chartered Accountants

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Social Achievements

• Provided free diagnostic and health services to underprivileged population through Jahangir Siddiqui Hospital, Sehwan.
• Completed installation of deep well hand-pumps in Tharparkar.
• Set up medical relief camps for victims of heat wave in Sindh.
• Distributed winter kits in drought hit areas of Sindh.
• Supported less privileged youth to become economically independent through vocational skills training.
• Provided free education to deaf and hearing impaired children through JS Academy for the Deaf.
• Distributed ration bags to victims of heavy rainfall in Tharparkar, Dadu, Thatta and Badin.
• Distributed ration bags, PPEs, and face masks during the COVID-19 pandemic.
• Established Future Labs, providing free and subsidized COVID-19 and other ailment testing.

Environmental Challenges

• COVID-19 pandemic and its impact on economic activity.
• Second wave of COVID-19 impacting Pakistan.

Mitigation Strategies

• The lifting of COVID-19 lockdown restrictions raised hopes for normalized business activity.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic causing major disruptions to economic activities and resulting in a decline in domestic and global demand.

Mitigation Strategies

• Management has taken necessary measures to ensure long-term sustainability and actively monitoring and managing the developing situation across businesses with regards to the pandemic.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Environmental Achievements

• JS Bank Limited became the first commercial Bank in Pakistan to be certified by the World-Wide Fund for Nature (WWF Pakistan) for their Green Office Initiative.
• JS Bank has powered its 113 branches using solar energy.
• Fakhr-e-Imdad Foundation’s School at FIF is implementing the use of solar power to reduce its reliance on traditional energy sources and promote more sustainable practices.

Social Achievements

• JS Bank is working to increase the representation of women across all functions and at various levels within the Bank.
• JS Bank introduced “HER” account, which celebrates and acknowledges a woman’s multiple strengths.
• JS Bank started a project Uraan for the “People of Determination” in March 2021.
• JS Group has been on the forefront to extend care and support to the families displaced due to recent flood in Sindh.
• Future Trust strives to eliminate poverty by extending support to less privileged youth of society to become economically independent by acquiring specialized vocational skills through Karigar Training Institute (KTI).
• Future Trust has arranged distribution of ration bags for the flood victims of District Khairpur.

Governance Achievements

• The Board of Directors (“Board”) of JSCL is enriched with appropriate mix of skills, core competencies, diversity, experience and knowledge and is committed to strong corporate governance to protect the overall interests of the Company and its shareholders specially minority shareholders.
• The Board has constituted highly effective Audit, Human Resource & Remuneration and Executive Committees with clear charters having adequate representation of non-executive and independent directors with requisite experience and knowledge to manage the affairs of the Company.
• JSCL has a sound system in place to ensure that it is fully compliant with all legal and regulatory requirements.

Climate Goals & Targets

Environmental Challenges

• economic volatility
• advancements in information technology
• information security
• climatic changes

Mitigation Strategies

• continuous augmentation of various capitals of the Company
• diversifying the investment portfolio to capitalize on sustainable businesses that provide steady returns
• leveraging the technological inputs to enhance automation and provision of digital one-stop solutions through JSCL’s subsidiaries and sub-subsidiaries to achieve sustainable growth
• information security policies and procedures to protect our assets, data of our employees and stakeholders from external attacks are reviewed and upgraded

Supply Chain Management

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: International Integrated Reporting (IR) Framework

Certifications:

UN Sustainable Development Goals

• Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• 1st Position in BCR Award for the Year 2021 in ‘NBFIs and Mutual Fund Sector’
• Certificate of Merit in the category ‘Financial Services Sector’ of SAFA Best Presented Annual Report Awards 2021

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Precarious balance of payments position faced by the country.
• Consistent decline in Foreign Exchange Reserves due to absence of IMF disbursement and lack of capital inflows.
• Massive devaluation of Pakistani Rupee (26.30 percent).
• Elevated inflation (33.04 percent).

Mitigation Strategies

• Forceful fiscal and monetary adjustments to ensure completion of IMF's 9th Review of the Extended Fund Facility.
• Introduction of a Mini-Budget.
• Upward adjustment in energy prices.
• Exchange rate depreciation.
• Upward revision of revenue measures and reduced budgeted expenditures to secure IMF disbursements.
• Withdrawal of general guidance to commercial banks on import prioritization.
• Commencement of a USD 3.0 billion Nine-month Stand-By Agreement with the IMF.
• Receipt of initial disbursement of USD 1.2 billion from IMF and USD 3.0 billion from bilateral sources.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Elevated risks to inflationary outlook in light of fiscal and external adjustments and achievement of price stability objective.
• Significant upward adjustment in inflation that reached to 31.49 percent during the quarter, as compared to an average inflation of 12.64 percent during the corresponding quarter of last year.
• Elevated interest rates, higher inflation, and numerous related supply-side pressures.

Mitigation Strategies

• The Company’s investments in banking, insurance, technology, textile, and chemicals are resilient enough to withstand and successfully navigate through any necessary adjustment period, contributing positively towards Pakistan’s economy and shareholders’ value.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Current contractionary monetary policy
• Expected materialization of inflationary impacts of fiscal consolidation measures
• Limited Foreign Exchange space for any import-led growth
• Vulnerability towards international energy and commodity prices

Mitigation Strategies

• Company’s investments in banking, insurance, technology, textile, and chemicals are resilient enough to withstand and successfully navigate through any necessary adjustment period

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• exchange rate stability
• volatility of food, commodity and energy prices
• intensity of regional conflicts

Mitigation Strategies

• The Company’s investments in banking, insurance, technology, textile, and chemicals are resilient enough to withstand and successfully navigate through any necessary adjustment period, contributing positively towards Pakistan’s economy and shareholders’ value.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• CSR Activities
• Social Development
• Healthcare
• Education
• Economic Development

Social Achievements

• Established Jahangir Siddiqui Hospital − Sehwan, providing medical treatment to over 142,843 patients since 2018 and extending PKR 198M in donations as of September 2024.
• Established Mother and Child Health Care Centre at JSH.
• Supports less privileged members of society through Future Trust, Mahvash & Jahangir Siddiqui Foundation, and Fakhre-e-Imdad Foundation.
• Provides free education to deaf and hearing-impaired children through JS Academy for the Deaf.

Environmental Challenges

• Significant disentrancement of economic activity dependent on favorable exogenous variables (energy and food prices, foreign investment, foreign policy, global conflicts).

Supply Chain Management

Climate-Related Risks & Opportunities