KARACHI: KESC’s Chairman, Tabish Gauhar, recently addressed two classes at the Harvard Business School and presented KESC’s turnaround story that revolves around a unique value creation model that ensures environmental, social and governance (ESG) gains as means to sustainable economic and financial value creation.
Harvard Business School and Harvard Kennedy School recently did a joint Case Study on KESC’s turnaround strategy to holistically capture the unique public-private partnership model that was aimed at transforming the ailing power utility with a long public sector legacy. The Case Study was taught at the Harvard Business School and at several other business schools around the world, as a unique example of how private sector investors can endeavour to make such a meaningful impact on sustainable development in emerging markets.
Addressing a diverse 150+ student community present there, Tabish explained how at KESC sustainability goals work in harmony with operational and financial goals of the organizations. “We firmly believe that KESC’s own turnaround and sustainability is fundamentally linked to the economic, social and environmental gains for a diverse set of our stakeholders. We have, therefore, adopted an all inclusive value creation approach that goes beyond a one-dimensional shareholder value creation”.
Gauhar also informed the audience that under KESC’s Stakeholder Engagement and Enrichment Drives for Sustainability (SEEDS), a holistic value creation approach, we fully recognize the impact of our performance in sustainable development across our stakeholders’ universe, essentially driving four distinct programs– ESG Initiatives, Social Investments, Stakeholder Engagement and Thought Leadership.
KESC is one of the handful of companies in the emerging markets whose Integrated Sustainability Report was recently assigned a Level ‘A’ Rating by the international Global Reporting Initiative (GRI). KESC is also one of the few companies in the region to have recently issued a comprehensive 5-year Climate Change Policy on the four key and inter-related themes of Energy Conservation, Energy Efficiency, Renewable Energy, and Environment.