Sustainability and bespoke reporting to meet the requirements of your organization
Reporting is often understood as something peripheral to the organization only to address compliance requirements or voluntary commitments. In fact, reporting is a unique opportunity for organizations to communicate significant progress. Over the last decade the need for non-financial reporting has been consistently getting traction in India and across the world. Some organizations are required to write CSR or BRR (now replaced by BRSR) Reporting, whereas some choose Integrated Reporting (IR) and still some go for GRI Reporting framework or a combination of these reports. Whatever your requirement is call us for an independent assessment and move forward on reporting.
Business Responsibility and Sustainability Report (BRSR) SEBI has introduced new requirements for sustainability reporting by listed companies in form of BRSR which will be replacing the BRR. This will be mandatory from financial year 2022-23 and carry important disclosures from ESG perspective which are intended to enable businesses to engage more meaningfully with their stakeholders and encourage them to go beyond regulatory financial compliance and report on their social and environmental impacts.
Global Reporting Initiative (GRI) An international framework that is most popular with large and small organizations worldwide. Organizations opt for ‘Core’ or ‘Comprehensive’ method of reporting based on their readiness. It is increasingly becoming a medium for organizations to show their commitment towards sustainability and responsible business.
Integrated Reporting (IR) Suggested and recommended for top 500 listed entities in India and many global entities. The choice of Integrated Reporting for investors is pegged to the long term vision of the organization. IR is for organizations who are willing to look into their business model, value chain and integrate value for each input. Typically, organizations would require 2-3 years to understand, create a road map and integrate IR in their systems.
Environmental Social Governance (ESG) Reporting This is the disclosure of data covering the company’s operations in three areas: environmental, social and corporate governancen and provides insights on a business’s impact in these three areas for investors. DJSI (Dow Jones Sustainability Indices) can be used as a family of indices evaluating the sustainability performance of thousands of companies trading publicly, operated under a strategic partnership between S&P Dow Jones Indices and RobecoSAM (Sustainable Asset Management). The DJSI is an index of the most socially responsible companies and a benchmark for those companies that are most committed to society and the planet, and a key tool for investors who assess more than just a business’s income statement.
Carbon Disclosure Project (CDP) CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. It carries a quesationnaire for 3 categories – climate, water & forest and significance for A lister companies.
Task Force on Climate-Related Financial Disclosures (TCFD) These disclosures involve voluntary climate-related financial risk disclosures which can be adopted by companies so that those companies can inform investors and other members of the public about the risks they face related to climate change.
Corporate Social Responsibility (CSR) Reporting Companies Act 2013 requires organizations to spend 2% of profits for defined social causes. It is also mandatory that this information is public and so there is an opportunity to showcase the CSR efforts through a well written CSR Report.
Bespoke Sustainability Reporting If none of this fits your organizational requirement, please do call us for a discussion for a bespoke sustainability solution that would define you.