Can India develop globally acceptable ESG reporting standards? First step: Get the mindset right.

Sebi Executive Director Amarjeet Singh speaking at ICAI ESG Conclave; image courtesy of ICAI.

Synopsis
ICAI is working on an India-specific sustainability-disclosure framework that can be acceptable to global investors and other stakeholders as well. However, to achieve this, Indian professionals and businesses need to develop a mindset to be standard setters, instead of being standard followers, says Sebi executive director Amarjeet Singh.

The regulator for the audit and assurance profession, Institute of Chartered Accountants of India (ICAI), is working towards making the country a global standard setter on ESG (environment, social, and governance) reporting. Over the next one year, it will develop a framework for integrated financial and non-financial sustainability-reporting standards. This is in response to a long-felt industry need for a comprehensive India-specific