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Reporting sustainability in india


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Reporting sustainability in india

  1. 1. Reporting Sustainability in India
  2. 2. Reporting Sustainability in India______________________________________________________________________________________What is sustainability?Industrialization and globalization have changed the context of business, acceleratingeconomic growth and intensifying social and environmental risks and impacts. Asustainability program is the sum total of corporate strategies, policies, goals andinitiatives based on drivers of economic, social and environmental risk, return, resourcesand reputation. Sustainability program ensures that amid environmental, social and eveneconomic uncertainty, an organization is able to adapt and remain viable for the long-terminterest of the owners.Growing relevance of Sustainability reportingSustainability reporting as a practice, over the last ten years has evolved from being afringe one to a mainstream practice. Some of the drivers of the same are1. There is an increasing volume of queries on sustainability performance of product/ services providing organizations from customers and socially responsible investors. In some cases, the RFPs by prospective clients can ask information about sustainability activities of the company, thus making it a part of market access requirement.2. In not-so-distant future, for a company to be a supplier to corporations such as WalMart, it would need to disclose its performance on parameters such as workers working conditions, greenhouse gas emissions and use of natural resources such as water.3. Reporting ones performance on sustainability front has a definite marketing value, either intended or intended. It can help in garnering recognition from third parties in form of green/sustainability rankings.4. As a continuation of a fierce competition in the marketplace on all parameters, competition in public relations is ensuring that information requests such as Carbon Disclosure Project are becoming mainstream means of communicating with conscious investors and public.EcoLogic Consultancy
  3. 3. Reporting Sustainability in India______________________________________________________________________________________5. Activities that are voluntary today can become mandatory by law in future. Proposed ideas such as CSR credits can make sustainability and corporate social responsibility a key governance measure for action and reporting6. Companies that have good performance in sustainability and reporting it have better ability to attract and retain talent.Global Reporting InitiativeGRI was started by the US based NGOs CERES and the Tellus Institute. It started as aframework for environmental reporting in the early 1990s with the aim of creating anaccountability mechanism to ensure companies followed the CERES Principles forresponsible environmental conduct. GRI gives the reporting organization a flexibility ofchoosing the level of compliance to the stipulated guidelines and the checking in formsuitable to the organization (self, third party or GRI itself). Across the globe, over 1000organizations across countries, sectors and scales self declare the use of the GRI Guidelinesin their sustainability reports, and a multitude of others use the guidelines on a moreinformal basis without self-declaration. In India, leading companies such as ITC, Infosysand Dr. Reddy’s have their sustainability reports complying GRI guidelines.An organization should base its sustainability report on GRI’s guidelines since1. Businesses, through their operations have impact on the environment and the society they operate in.2. Many organizations undertake initiatives, spending significant resources – monetary and non-monetary in executing these initiatives.3. Socially responsible investors such as FMO do follow and stimulate others to use Global Reporting Initiative’s G3 guidelines4. Publishing a report complying G3 guidelines at the GRI forum can give the organization visibility at international level along with the best in class companies across the globe. Such a visibility is a powerful differentiator in the eyes of stakeholders such as investors, suppliers and employees.EcoLogic Consultancy
  4. 4. Reporting Sustainability in India______________________________________________________________________________________We can!EcoLogic Consultancy can get involved with your organization to enable creation of asustainable development report (SDR). The framework we can adopt to generate SDR isshown below. Create company’s internal view of sustainability Develop a framework required for external reporting in line with GRI guidelines Decide on application level and checking process - self, third, GRI checking Collate all the relevant information for publication Design of sustainability development report (SDR) with design agency and client Publish SDREcoLogic Consultancy
  5. 5. Reporting Sustainability in India______________________________________________________________________________________About UsEcoLogic Consultancy came into existence with the purpose of “To help our clients inunderstanding, establishing sound Environment Management Systems, and pursuingsustainable business solutions through our various services to abate direct and indirectimpact on ecological balance.”We have expertise in the areas of carbon accounting and management, energymanagement systems, voluntary/compliance carbon markets, environment managementand sustainability and carbon branding.To know more about EcoLogic, please visit schedule a meeting and discussion with us, do reach us onKedar - +91-9000772462 – kedar@ecologicconsultancy.inIndrajeet - +91-9028788430 – indrajeet@ecologicconsultancy.inEcoLogic Consultancy