BRSR REPORTING STANDARD
ESG consultancies and services on the rise as companies rush to get sustainability tag
Emerging consultancies and ESG services companies have a lot of opportunities but struggle due to lack of awareness and data.
Why it is time to focus on plastic waste recycling and renewables
Efforts are underway to streamline processes, enhance transparency, and create value in the recycling industry. Companies are focusing on sustainability and profitability through efficient resource management.
Investors taking a shine to Indian climate tech space
Over the last 12-15 months, investors such as Blume Ventures, Leo Capital and new entrants like Synapses have been betting on climate tech startups. Even global investors are looking to invest in climate tech companies.
Workplace injury reports show slight rise among top 1,000 listed companies
According to recent data from Prime Database, shared exclusively with ET, 268 companies reported 5,244 work-related injuries to white-collar employees in 2022-23, compared to 392 companies reporting 9,867 injuries to blue-collar workers during the financial year.
Everyone wants to board India's growing ESG compliance gravy train
Since FY20, the top 1,000 companies had to disclose their ESG performance under the business responsibility report. From FY23, this report turned into the more comprehensive Business Responsibility and Sustainability Report (BRSR) that requires disclosure of nearly 1,600 data points across different aspects of ESG.
Top listed firms report increase in staff injuries suffered at workplace
SEBI guidelines led to increased injury reporting at top companies, with a focus on white-collar employees. Challenges remain in underreporting incidents among blue-collar workers. Companies like IndiGo are enhancing safety measures for employees.
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ESG reporting witnesses increase in global variance
India has been an early adopter of corporate ESG regulations - be it mandating listed companies to spend towards corporate social responsibility or disclosing ESG parameters through the 'business responsibility and sustainability reporting', or BRSR. Since FY23, the top 1,000 listed companies in India have been disclosing over 1,600 data points pertaining to different aspects of the ESG framework as part of the BRSR.
Living wage augurs well for contractual staff
India transitioning to living wages with ILO, affecting labor costs. Disparities in pay among different worker types. Global minimum wage increases noted. Italy resists implementing minimum wage. Challenges anticipated for MSMEs, SMEs, and gig workers.
Property developers prioritize green developments
To deal with the extreme climate change builders are focussing on conserving water by recycling it and using it for flushing and landscape, harvesting rainwater, radiation free building structures, green materials, and recycling organic waste and segregating waste on the development so that the amount of waste sent to the landfill is only 20 % of the standard amongst others.
Leaders are preparing for strategic planning in the age of uncertainty
While strategic planning is not new, the added uncertainty caused by technology shifts and changing macroeconomic situations has made it more difficult. What should leaders keep in mind while building strategic plans for 2024?
India has an enviable place in global ESG disclosure list
As SEBI maintains an aggressive stance on ESG reporting, India is placed comparatively higher than other leading global economies on this front.
Earth Forward Dialogues continue: ESG visionaries explore discussions on sustainable strategies at Candor TechSpace Sector 48, Gurugram
Embarking on an ESG journey that resonates with the mission of Earth Forward, Brookfield Properties is at the forefront of pioneering sustainability across diverse sectors. Their unwavering commitment to fostering best environmental practices mirrors the global impact envisioned by the Earth Forward initiative.
ESG: Why companies need to change their perception and approach towards sustainability
According to the updated definition in the International Sustainability Standards Board (ISSB), sustainability is 'the ability of a company to sustainably maintain resources and relationships with and manage its dependencies and impacts within its whole business ecosystem over the short, medium and long term'.
More than 42,000 cases came for resolution under insolvency law, says IBBI official
At an event in the national capital on Tuesday, IBBI Whole Time Member Sudhaker Shukla also said that while competition and innovation are two things that drive a company, resolvability is a goal to cherish. "It ensures that companies remain sustainable and adaptable," he added.
More boards across the world are seeing strategic importance of ESG compliance
The importance of environmental, social, and corporate governance (ESG) reporting is increasing globally, and companies with better ESG ratings have outperformed their peers in the stock market. As regulatory norms emerge in India, companies need to develop their ESG practices and boards must enable sustainable reporting practices.
Assurance players seek Sebi clarity on ‘overly restrictive’ ESG assurance rule
They say the regulation prohibits BRSR Core assurance providers from offering permitted services under Section 144 of the Companies Act to their audit clients.
Credit rating practices in India: SEBI’s exemplary role
India's Securities and Exchange Board has implemented a robust regulatory framework for credit rating agencies (CRAs), following the 2008 financial crisis. Among the key changes SEBI has made, CRAs must now consider ESG factors in assessing credit risk, and provide investors with detailed information relating to a firm's approach to environmental, social and governance concerns.
Blues of green roles: India Inc struggles with ESG talent gap
Globally, too, there is a shortage of green skills jobs - an OECD (Organisation for Economic Cooperation and Development) report in March found that "a green skills shortage across the OECD is holding back growth in sustainable development jobs and could jeopardise the race to reach net zero by 2050".
Making private sector climate talk walk
Norms for disclosure on how climate change impacts companies issued by the G20-backed International Sustainability Standards Board (ISSB) on Monday is an important step to stem 'greenwashing'. Given the rising number of pledges and commitments to reduce carbon footprint and achieve net-zero over the last few years, this will be a measure of whether walk matches talk.
How ESG landscape can help companies innovate and drive change
Imbibing ESG into core value propositions is the only way to efficiently capitalise on the transformation opportunities.
Will revised norms make ESG investing more credible?
Sebi steps designed to remove discrepancies in data reporting by companies.
How RBI can prepare for climate-related risk management
Other central banks, including those of France, China, Malaysia and Japan, have also conducted, or are planning to conduct, scenario analyses and stress tests to check the resilience of their financial systems to climate risks. It's time RBI also picks up the baton.
'One-third of Nifty 500 cos follow structured approach on reporting sustainability-related info'
Under Sebi's guidelines, BRSR structure has been divided into three sections -- general disclosures, management and process disclosures, and principle-wise performance disclosures.
A new rule will now show how serious companies are about walking their social responsibility talk
Sebi had allowed for a transition period by permitting firms to disclose the info voluntarily in 2021-22. Last year, therefore, was a dress rehearsal for what promises to be one of the biggest pivots in corporate governance undertaken by India.
View: A robust ESG strategy presents opportunity for businesses to stand out
ESG funds have attracted record inflows during the pandemic. Over half of overall European and a quarter of US fund flows now go to sustainable funds. In India, a clutch of ESG-focused funds has been launched by players like Quantum, ICICI, Axis, Mirae and Kotak. By 2025, most investment strategies could be ESG-investing strategies.
Rising regulatory push raises compliance level on public disclosure of ESG strategies: Report
When it comes to ESG strategies, disclosures and performance, around 98 per cent of the 163 domestic companies surveyed regularly publish sustainability reports and 41 per cent of them do that in accordance with the global reporting initiative standards, an analysis of these metrics by global financial markets data and infrastructure supplier Refinitiv, which is a London bourse arm.
Sebi comes out with disclosure requirements under Business Responsibility and Sustainability Report
The new report -- Business Responsibility and Sustainability Report (BRSR)-- will replace the existing Business Responsibility Report (BRR).
ICAI's Sustainability Reporting Standards Board now has greater role to play: ICAI president
The new reporting requirements are expected to bring in greater transparency through disclosure of material environmental, social and governance-related information to enable market participants to identify and assess sustainability-related risks and opportunities.
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