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Sustainability reporting updated

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A brief report on Sustainability, GRI, NVG and implementing these guidelines in India

A brief report on Sustainability, GRI, NVG and implementing these guidelines in India

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Sustainability reporting updated Sustainability reporting updated Presentation Transcript

  • Sustainability Reporting July 24, 2013 By
  • Why report on Sustainability?  Increasing pressure on Corporates for  Greater responsibility towards the society and the environment  Greater transparency in reporting financials and non-financials  Sustainable performance in economical, social, environmental and governance aspects July 24, 2013
  • Why report on Sustainability?  Establishing a sustainability reporting process would July 24, 2013 Improve Economic, Social and Governance Performance Develop a sustainable global economy Communicate the positive impact made by organization Manage change Measure performance Help in setting goals
  • Guidelines on reporting sustainability  The guidelines for reporting sustainability are set by Global Reporting Initiative (GRI)  Global Reporting Initiative (GRI) is a non-profit organization that promotes economic, environmental and social sustainability  The Guidelines are updated regularly by GRI  The current guideline is G3.1 – a third generation of GRI’s sustainability guidelines  G4 - the fourth generation of guidelines is under development and to be released in May, 2013 July 24, 2013
  • Guidelines on reporting sustainability G3 sustainable Performance Indicators are organized as July 24, 2013 Economic Environmental Social
  • Global Reporting Initiative  GRI is a multi-stakeholder, network-based organization  Strategic partnerships with  United Nations Environment Programme  the UN Global Compact  the Organisation for Economic Co-operation and Development  International Organization for Standardization ​  The development of guideline follows GRI’s due process  Setting priorities for revision of the Guidelines  Developing proposals for revision  Public comment period  Approval by the governance bodies July 24, 2013
  • Principle for Responsible Investment  The Principles of Responsible Investment (PRI) is a reporting framework for investment managers  It takes environmental, social and corporate governance (ESG) issues into account within the investment process  The framework has three goals  to improve the accountability of the PRI  enable investors to report their approach to responsible investment in a transparent and globally-comparable way and  to assess the progress of signatories towards implementing the Principles of PRI July 24, 2013
  • Sustainability reporting in India  On July 2011, the Ministry of Corporate Affairs launched National Voluntary Guidelines  SEBI has mandated from Nov 2011 that the 100 top listed entities must submit Business Responsibility Reports  As per SEBI’s requirement under clause 49 of the listing agreement all public equities are required to comply with disclosure norms related to corporate governance July 24, 2013
  • Principles of NVG The national voluntary guidelines consist of 9 core principles, namely:  Principle 1: Businesses should conduct and govern themselves with Ethics, Transparency and Accountability  Principle 2: Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle  Principle 3: Businesses should promote the well-being of all employees  Principle 4: Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalized  Principle 5: Businesses should respect and promote human rights  Principle 6: Business should respect, protect, and make efforts to restore the environment  Principle 7: Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner  Principle 8: Businesses should support inclusive growth and equitable development  Principle 9: Businesses should engage with and provide value to their customers and consumers in a responsible manner July 24, 2013
  • Problems in reporting Sustainability  Limited tools to report on Sustainability parameters  Challenge in finding the right data and assess its credibility  Tough for companies to prioritize environment management over business objectives  Would you rather preserve the rainforest or maximize growth and profitability?  Stockholders or Stakeholders?  Easy to take decisions towards sustainability but practical application of those decisions is way difficult July 24, 2013
  • Fairness in implementation  Developed nations vs. Developing Nations  Developed Nations  Enjoyed a prolonged period of growth at the expense of environment  Can afford a slow growth for increasing environment protection  Have the capital, funds and technology to invest in sustainable development  Developing Nations  Have potential for growth and must grow to feed a larger population  Face a political pressure from the population to maintain economic growth in-spite of exploitation of resources July 24, 2013
  • Thank You July 24, 2013