Why do Sebi’s ESG disclosure and assurance norms give India Inc the jitters?

Synopsis
Market watchdog Sebi’s notification on environmental, social, and governance (ESG) disclosures and assurance requirements for value chain partners of top 1,000 listed entities by market cap has stirred many businesses to take serious note of ESG performance parameters of their key suppliers and vendors.

Nasdaq-listed ReNew recently kicked off a detailed exercise to benchmark its supply chain practices, against its peers and international ESG frameworks and guidelines. The renewable energy company’s aim is to complete the exercise by the last quarter of the current financial year. This is a follow-up to the ‘Sustainability Code of Conduct for Suppliers’ ReNew launched in July 2022. “ReNew developed and executed a sustainable supply chain