The document discusses SEBI mandating that top Indian public companies report on environmental, social, and governance initiatives through a business responsibility report. It provides context on the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business established by the Ministry of Corporate Affairs. The brief examines the current state of business responsibility reporting among large Indian public companies and the opportunities and challenges associated with the new SEBI requirements. It outlines the nine principles of the National Guidelines and the flexible reporting process, which allows mapping existing sustainability reports or providing a statement of commitment.
This newsletter provides updates on sustainability matters and issues. It discusses how companies in India are preparing for new regulatory guidelines on business responsibility reporting and corporate social responsibility spending. A study found that 64% of top companies are unprepared for the new reporting requirements. The new CSR guidelines for public sector companies emphasize ethics and sustainability over funding external projects. Experts discuss how companies can maximize the impact of their CSR activities and view the 2% spending requirement as a core business strategy rather than just a cost.
Sustainability in Korea: Performance & Trends 2013SolAbility
This document discusses corporate sustainability and governance issues in Korea in 2013. It provides an overview of trends showing increasing management awareness of sustainability but stagnating governance practices. Financial returns for sustainable companies significantly outperformed the market. The document also analyzes issues around controlling family structures ("Chaebols") of large Korean conglomerates that concentrate power and hamper independent oversight.
This document summarizes CIKLOPEA's corporate social responsibility report for 2011. It discusses the company's commitment to CSR principles and monitoring of social and environmental indicators. It provides an overview of the company's profile, economic performance in 2011, donations and investments in education, employee statistics and practices to promote satisfaction. The report is intended to inform stakeholders of CIKLOPEA's operations and how it incorporates sustainability.
ACCA has over 100 years of experience working with small and medium-sized enterprises (SMEs). They provide resources and support to help accountants advise SMEs. The document lists several of ACCA's policy papers and research reports related to issues impacting SMEs. These address topics like the effect of regulations on SMEs, the future of microfinance, and the types of advice accountants provide to SMEs regarding areas like human resources, ethics, and obtaining financing.
Delivering impact through community sports programmes1978Jen
This document discusses delivering impact through community sports programs. It provides an agenda for a meeting on this topic, including presentations on the impact and value of sports focused community investment, and case studies from Premier League 4 Sport and Sky Sports Living for Sports. There will also be an open panel discussion. The document then discusses the potential impact of sports investment on physical health, mental health, numeracy, and quality of life. However, evidence shows sports investment has produced mixed results, with decreases in some areas but increases in others. The document argues maximizing value requires coordinating activities to have broader impacts through partnerships. It also discusses balancing investments, innovating funding models, and creating long term sustainability.
Dpe guidelines on csr and sustainability 2013Dinesh Agrawal
This document provides guidelines for central public sector enterprises on corporate social responsibility and sustainability. Some key points:
- CSR should be viewed as conducting business ethically and sustainably to benefit all stakeholders.
- CSR covers relationships with internal and external stakeholders, and how business operations impact society and the environment.
- CSR and sustainability are combined into a single set of guidelines, focusing on capacity building, empowerment, inclusive growth, environment protection, and uplifting marginalized groups.
- Top management must be passionately involved to drive CSR/sustainability initiatives throughout the organization's culture and activities.
This presentation explores what Corporate Social Responsibility (CSR) has to do with IT and how IT Service Management best practice can assist organisations in support of a strategic CSR policy.
PwC hosted a roundtable discussion on opportunities in the green economy. The document discusses defining the green economy, challenges in measurement, and implications for PwC's business lines including advisory services around sustainability strategy, reporting, and regulatory compliance. PwC aims to help clients capitalize on green opportunities and manage risks through integrated sustainability solutions while also strengthening its own sustainability practices.
This newsletter provides updates on sustainability matters and issues. It discusses how companies in India are preparing for new regulatory guidelines on business responsibility reporting and corporate social responsibility spending. A study found that 64% of top companies are unprepared for the new reporting requirements. The new CSR guidelines for public sector companies emphasize ethics and sustainability over funding external projects. Experts discuss how companies can maximize the impact of their CSR activities and view the 2% spending requirement as a core business strategy rather than just a cost.
Sustainability in Korea: Performance & Trends 2013SolAbility
This document discusses corporate sustainability and governance issues in Korea in 2013. It provides an overview of trends showing increasing management awareness of sustainability but stagnating governance practices. Financial returns for sustainable companies significantly outperformed the market. The document also analyzes issues around controlling family structures ("Chaebols") of large Korean conglomerates that concentrate power and hamper independent oversight.
This document summarizes CIKLOPEA's corporate social responsibility report for 2011. It discusses the company's commitment to CSR principles and monitoring of social and environmental indicators. It provides an overview of the company's profile, economic performance in 2011, donations and investments in education, employee statistics and practices to promote satisfaction. The report is intended to inform stakeholders of CIKLOPEA's operations and how it incorporates sustainability.
ACCA has over 100 years of experience working with small and medium-sized enterprises (SMEs). They provide resources and support to help accountants advise SMEs. The document lists several of ACCA's policy papers and research reports related to issues impacting SMEs. These address topics like the effect of regulations on SMEs, the future of microfinance, and the types of advice accountants provide to SMEs regarding areas like human resources, ethics, and obtaining financing.
Delivering impact through community sports programmes1978Jen
This document discusses delivering impact through community sports programs. It provides an agenda for a meeting on this topic, including presentations on the impact and value of sports focused community investment, and case studies from Premier League 4 Sport and Sky Sports Living for Sports. There will also be an open panel discussion. The document then discusses the potential impact of sports investment on physical health, mental health, numeracy, and quality of life. However, evidence shows sports investment has produced mixed results, with decreases in some areas but increases in others. The document argues maximizing value requires coordinating activities to have broader impacts through partnerships. It also discusses balancing investments, innovating funding models, and creating long term sustainability.
Dpe guidelines on csr and sustainability 2013Dinesh Agrawal
This document provides guidelines for central public sector enterprises on corporate social responsibility and sustainability. Some key points:
- CSR should be viewed as conducting business ethically and sustainably to benefit all stakeholders.
- CSR covers relationships with internal and external stakeholders, and how business operations impact society and the environment.
- CSR and sustainability are combined into a single set of guidelines, focusing on capacity building, empowerment, inclusive growth, environment protection, and uplifting marginalized groups.
- Top management must be passionately involved to drive CSR/sustainability initiatives throughout the organization's culture and activities.
This presentation explores what Corporate Social Responsibility (CSR) has to do with IT and how IT Service Management best practice can assist organisations in support of a strategic CSR policy.
PwC hosted a roundtable discussion on opportunities in the green economy. The document discusses defining the green economy, challenges in measurement, and implications for PwC's business lines including advisory services around sustainability strategy, reporting, and regulatory compliance. PwC aims to help clients capitalize on green opportunities and manage risks through integrated sustainability solutions while also strengthening its own sustainability practices.
The 1990s was about the march towards manufacturing quality as the textile industry worldwide raced to adopt lean manufacturing and ISO driven quality practices. The 2000s were about ensuring ethical sourcing and labor practices. The coming decade is going to be about sustainability and optimally using natural resources to generate value in the textile supply chain.
In this report we talk about this new dimension on the cusp of being rolled out throughout the supply chain: Environmental Sustainability. Progressive brands and retailers have been exploring sustainability initiatives since the middle half of the last decade: testing initiatives first internally and now considering roll-out through their global supply chains. This report attempts to paint a picture of what the next few years are going to look like and inform industry practicioners on the shift that is afoot.
Waste to Wealth: Landscape for Waste to Energy for Industrial Wasteckinetics
Perched on the tipping point of ecological and economic rebalancing, the
business and environmental landscape of the world is shifting towards
sustainable growth paths. Energy and resource costs are on the upswing due
to heavy reliance on non-renewable and hence limited sources of energy
and other materials. This is a precursor to the need to: (1) make existing
resources last longer and (2) identify new resources that are both renewable
and viable.
Waste and, in particular, the exponentially growing Industrial Waste presents
one such invaluable opportunity to generate energy from waste; thereby
incorporating a natural by-product of industrial production into meeting the
industrial energy demand.
The Government of India has, through policies and directives, laid significant
emphasis on the need and the pathways to exploit the waste to energy
potential in India. Various programs are providing assistance to industrial
units to set up plants to convert waste to energy.
In addition, the economic viability of Industrial Waste as a substantial, easily
available and renewable source of energy is a key catalyst to drive industrial
uptake of ‘Waste to Energy’ programs.
To accelerate the adoption of Waste to Energy programs, it is imperative to
understand and mitigate roadblocks for all stakeholders. The ASSOCHAM
initiatives on Waste to Wealth, supported by this report detailing the operative
landscape, would create the ideal forum to initiate and incubate the dialogue
that enables the road to generate Wealth from Waste.
Air transport is widely considered to be one of the safest forms of travel. In Europe, air transport is also one of the fastest growing transport sectors. In order to continuously improve aviation safety in Europe, EASA and its stakeholders monitor aviation safety statistics to understand both the current situation and areas for possible improvement.
This document provides a high‑level overview of aviation‑safety statistics in Europe and worldwide.
It is published by EASA in order to inform the public of the general safety level in the field of civil aviation. The Agency provides this review on an annual basis as required by Article 15(4) of Regulation (EC) No 216/2008 of the European Parliament and of the Council of 20 February 2008.
EASA is responsible for providing common standards of safety and environmental protection in civil aviation in Europe and worldwide. It is the centrepiece of regulations creating a single European market in the aviation industry.
The agency’s responsibilities include:
•
Expert advice to the EU for drafting new legislation;
•
Implementing and monitoring safety rules, including inspections in the Member States;
•
Type‑certification of aircraft and components, as well as the approval of organisations involved in the design, manufacture and maintenance of aeronautical products;
•
Authorisation of third‑country (non EU) operators;
•
Safety analysis and research.
The agency’s responsibilities are expanding to meet the challenges of the fast‑developing aviation sector.
This document discusses hazard identification and risk management. It begins with an overview of the International Civil Aviation Organization's (ICAO) Safety Management System framework, which includes hazard identification, risk assessment and mitigation. Several examples of hazards are provided, emphasizing the importance of clearly defining hazards rather than describing them by their potential consequences. The document then discusses methods for identifying hazards, including considering one's main fears and how events could occur. It introduces bow-tie diagrams as a tool for displaying hazards, potential causes, consequences and risk controls. The remainder of the document provides guidance on assessing risks and developing mitigation actions associated with identified hazards.
This market assessment report is a primer for Zero Liquid Discharge in India, which describes the current scenario, illustrates the outlook for 2020 and quantifies the market opportunity with a focus on three highly polluting and water intensive industries, i.e. Textile (wet processing), Distillery (molasses based) and Pulp & Paper (large wood based).
32 Ways a Digital Marketing Consultant Can Help Grow Your BusinessBarry Feldman
How can a digital marketing consultant help your business? In this resource we'll count the ways. 24 additional marketing resources are bundled for free.
GC Advisors - Sustainability Value Newsletter - March 2013GCAdvisors
This newsletter provides updates on sustainability matters, including market highlights on carbon credit prices and issuance, events like an upcoming ASEAN corporate sustainability summit, and articles on topics like companies' preparedness for business responsibility reporting in India and making CSR spending more impactful. It also briefly summarizes several other news items related to sustainability issues in India like mandatory water audits, a social venture fund registration, and progress toward clean energy goals.
Business Responsibility and Sustainability .pdfaakash malhotra
Read Deloitte India’s Business Responsibility and Sustainability Report and what it means for the top 1,000 listed entities in India. The Securities and Exchange Board of India (SEBI) introduced new requirements for sustainability reporting by listed companies. It aims to establish links between the financial results of a business with its ESG performance.
Making the 'People' Content of Sustainability Reports Work - The Case of the ...deji olatoye
The paradox of voluntary conformance often has challenges. In the case of sustainability reporting by companies, a still largely voluntary activity of global businesses, the closest framework to a gold standard is the G3 of Global Reporting Initiative, an institution based in The Netherlands. In this presentation, using the example of the ‘people’ content of the 2009 sustainability reports of 4 IOCs operating in Nigeria – Shell, Eni, Chevron and ExxonMobil – we demonstrate the fudging effect of the inconsistency in the application of the workforce performance indicators of the G3 framework and its consequence for an overall transparent reporting on the subject. This becomes poignant in view of the near perennial industrial crises in the Nigerian petroleum industry due to allegation of unethical labour practices of the local operations of these companies. The presentation concludes by drawing out lessons for all three constituencies – (1) reporting standard setters which must now clarify their ‘people’ reporting requirements to elicit material and transparent information on the global workforce, (2) local stakeholders and the civil society who must adopt the new tool of reporting engagement besides the traditional strike action and (3 reporting organisations which must move towards a more result-oriented conformance with reporting frameworks.
The document discusses the evolution of ESG reporting standards in India from the 2009 CSR guidelines to the current Business Responsibility and Sustainability Report (BRSR) format introduced by SEBI in 2021. It provides details on the key reporting sections and parameters under the previous Business Responsibility Report (BRR) format and the enhanced disclosures under the new BRSR format. The BRSR format aims to strengthen reporting on climate, social and value chain issues through additional metrics and more granular disclosures.
Whitepaper integrated reporting in the CloudWorkiva
Integrated reporting combines traditional financial reporting with environmental, social and governance reporting into a single report. This provides a more comprehensive view of a company's performance and risks. There is growing demand from investors and other stakeholders for integrated reporting as it allows better evaluation of long-term sustainability. Producing integrated reports can help companies attract investors, safeguard reputation and mitigate risks. Collaboration software allows reporting teams to efficiently produce integrated reports by enabling real-time collaboration on a single document.
The BRSR report is mandated for the top 1,000 listed companies in India starting in FY22-23 to standardize sustainability disclosures. It provides a standardized format for companies to assess their ESG performance against peers. Initiating BRSR reporting will benefit companies by enabling them to check their readiness on key indicators, establish internal processes for data collection, and potentially improve operational practices and stock performance over the long term.
Assessment of CSR Law in Companies Act, 2013 – An Analysis of the Performance...inventionjournals
Introduction: The new law making CSR expenditure and reporting mandatory for certain companies is a new chapter in the Indian corporate world and has provided a necessary boost to the status of companies’ responsibility towards the stakeholders, and transparency and accountability of their actions. Need: The mandatory 2% spending of profits on CSR activities got mixed reaction from corporate executives. To ensure that the enforcement of the law isn’t limited to the term “cheque-book CSR”, regular exploration of the companies’ CSR expenditures and their consequent outcomes is absolutely essential. Objective: The paper aims to assess the outcome of Section 135 of the Companies Act, 2013, in the first year of its implementation among the BSE-SENSEX companies. Research methodology: Secondary sources were utilized for collecting profits and CSR expenditure figures of the selected 30 companies for conducting an ex-post analysis for the year 2014-15. Key findings of the study: Less than 15% of the BSE-SENSEX companies had spent on CSR activities an amount that is equal to or greater than the stipulated 2% of the average profits of the preceding 3 years as per Section 135 of Companies Act, 2013. Implications: Immediate attention of regulatory bodies is desired towards companies failing to dispense the funds earmarked for CSR as stipulated by the law to ensure compliance.
Crossing Boundaries Towards Driving Businesses Beyond Profitability (Mdm. Hjh...Corporate Registers Forum
The document outlines the SSM's Corporate Responsibility agenda and initiatives. It discusses why corporate responsibility is important both domestically in Malaysia and globally. It then details SSM's CR agenda parameters and objectives. Some key initiatives discussed include establishing a dedicated CR unit, forming strategic alliances with UKM, IIM and UNICEF, advocating for CR through various forums and conferences, and promoting CR globally through memberships with CSR Asia and CSE. The overall aim is to drive businesses beyond profitability and encourage sustainable practices.
This document provides an overview of social auditing and corporate responsibility. It discusses the brief history of corporate responsibility programs and how they have developed over time. It then explains the key principles, criteria, and process involved in social auditing for corporations. The document emphasizes that determining material issues and prioritizing them is an important part of social auditing.
Presentation by Managing Principal William Newman at the 2011 Management and Information Business Shows sponsored by the Michigan Association of CPAs Management Consulting Task Force.
This presentation was given at Det norske Veritas (DNV) headquarters for a seminar arranged by YoungShip and young professionals at DNV. My introduction was given in a joint session with Elisabeth Grieg, part-owner of the Grieg Group and former President of the Norweigan Shipowner's Association.
This document provides guidelines on corporate social responsibility (CSR) for central public sector enterprises (CPSEs) in India. Some key points:
1. CSR planning should involve identifying long-term, medium-term, and short-term CSR projects and activities. Projects should be closely linked to the business and address social and environmental concerns.
2. Implementation of CSR projects and activities should generally be done through specialized agencies rather than CPSE staff. Projects should create social impact and visibility while avoiding duplication with government programs.
3. CPSEs are required to allocate a percentage of annual net profits to CSR budgets set through board resolutions. Budgets are to be spent on CSR projects and activities and will
The development of Integrated Reporting is designed to enhance and consolidate existing reporting practices and, through collaboration, consultation and experimentation, to move towards a reporting framework that provides the information needed to assess organizational value in the 21st century. Integrated Reporting brings together material information about an organization’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operates. The initial focus is on reporting by larger companies and on the needs of their investors. The next steps that the IIRC will take in this direction are listed below.
The 1990s was about the march towards manufacturing quality as the textile industry worldwide raced to adopt lean manufacturing and ISO driven quality practices. The 2000s were about ensuring ethical sourcing and labor practices. The coming decade is going to be about sustainability and optimally using natural resources to generate value in the textile supply chain.
In this report we talk about this new dimension on the cusp of being rolled out throughout the supply chain: Environmental Sustainability. Progressive brands and retailers have been exploring sustainability initiatives since the middle half of the last decade: testing initiatives first internally and now considering roll-out through their global supply chains. This report attempts to paint a picture of what the next few years are going to look like and inform industry practicioners on the shift that is afoot.
Waste to Wealth: Landscape for Waste to Energy for Industrial Wasteckinetics
Perched on the tipping point of ecological and economic rebalancing, the
business and environmental landscape of the world is shifting towards
sustainable growth paths. Energy and resource costs are on the upswing due
to heavy reliance on non-renewable and hence limited sources of energy
and other materials. This is a precursor to the need to: (1) make existing
resources last longer and (2) identify new resources that are both renewable
and viable.
Waste and, in particular, the exponentially growing Industrial Waste presents
one such invaluable opportunity to generate energy from waste; thereby
incorporating a natural by-product of industrial production into meeting the
industrial energy demand.
The Government of India has, through policies and directives, laid significant
emphasis on the need and the pathways to exploit the waste to energy
potential in India. Various programs are providing assistance to industrial
units to set up plants to convert waste to energy.
In addition, the economic viability of Industrial Waste as a substantial, easily
available and renewable source of energy is a key catalyst to drive industrial
uptake of ‘Waste to Energy’ programs.
To accelerate the adoption of Waste to Energy programs, it is imperative to
understand and mitigate roadblocks for all stakeholders. The ASSOCHAM
initiatives on Waste to Wealth, supported by this report detailing the operative
landscape, would create the ideal forum to initiate and incubate the dialogue
that enables the road to generate Wealth from Waste.
Air transport is widely considered to be one of the safest forms of travel. In Europe, air transport is also one of the fastest growing transport sectors. In order to continuously improve aviation safety in Europe, EASA and its stakeholders monitor aviation safety statistics to understand both the current situation and areas for possible improvement.
This document provides a high‑level overview of aviation‑safety statistics in Europe and worldwide.
It is published by EASA in order to inform the public of the general safety level in the field of civil aviation. The Agency provides this review on an annual basis as required by Article 15(4) of Regulation (EC) No 216/2008 of the European Parliament and of the Council of 20 February 2008.
EASA is responsible for providing common standards of safety and environmental protection in civil aviation in Europe and worldwide. It is the centrepiece of regulations creating a single European market in the aviation industry.
The agency’s responsibilities include:
•
Expert advice to the EU for drafting new legislation;
•
Implementing and monitoring safety rules, including inspections in the Member States;
•
Type‑certification of aircraft and components, as well as the approval of organisations involved in the design, manufacture and maintenance of aeronautical products;
•
Authorisation of third‑country (non EU) operators;
•
Safety analysis and research.
The agency’s responsibilities are expanding to meet the challenges of the fast‑developing aviation sector.
This document discusses hazard identification and risk management. It begins with an overview of the International Civil Aviation Organization's (ICAO) Safety Management System framework, which includes hazard identification, risk assessment and mitigation. Several examples of hazards are provided, emphasizing the importance of clearly defining hazards rather than describing them by their potential consequences. The document then discusses methods for identifying hazards, including considering one's main fears and how events could occur. It introduces bow-tie diagrams as a tool for displaying hazards, potential causes, consequences and risk controls. The remainder of the document provides guidance on assessing risks and developing mitigation actions associated with identified hazards.
This market assessment report is a primer for Zero Liquid Discharge in India, which describes the current scenario, illustrates the outlook for 2020 and quantifies the market opportunity with a focus on three highly polluting and water intensive industries, i.e. Textile (wet processing), Distillery (molasses based) and Pulp & Paper (large wood based).
32 Ways a Digital Marketing Consultant Can Help Grow Your BusinessBarry Feldman
How can a digital marketing consultant help your business? In this resource we'll count the ways. 24 additional marketing resources are bundled for free.
GC Advisors - Sustainability Value Newsletter - March 2013GCAdvisors
This newsletter provides updates on sustainability matters, including market highlights on carbon credit prices and issuance, events like an upcoming ASEAN corporate sustainability summit, and articles on topics like companies' preparedness for business responsibility reporting in India and making CSR spending more impactful. It also briefly summarizes several other news items related to sustainability issues in India like mandatory water audits, a social venture fund registration, and progress toward clean energy goals.
Business Responsibility and Sustainability .pdfaakash malhotra
Read Deloitte India’s Business Responsibility and Sustainability Report and what it means for the top 1,000 listed entities in India. The Securities and Exchange Board of India (SEBI) introduced new requirements for sustainability reporting by listed companies. It aims to establish links between the financial results of a business with its ESG performance.
Making the 'People' Content of Sustainability Reports Work - The Case of the ...deji olatoye
The paradox of voluntary conformance often has challenges. In the case of sustainability reporting by companies, a still largely voluntary activity of global businesses, the closest framework to a gold standard is the G3 of Global Reporting Initiative, an institution based in The Netherlands. In this presentation, using the example of the ‘people’ content of the 2009 sustainability reports of 4 IOCs operating in Nigeria – Shell, Eni, Chevron and ExxonMobil – we demonstrate the fudging effect of the inconsistency in the application of the workforce performance indicators of the G3 framework and its consequence for an overall transparent reporting on the subject. This becomes poignant in view of the near perennial industrial crises in the Nigerian petroleum industry due to allegation of unethical labour practices of the local operations of these companies. The presentation concludes by drawing out lessons for all three constituencies – (1) reporting standard setters which must now clarify their ‘people’ reporting requirements to elicit material and transparent information on the global workforce, (2) local stakeholders and the civil society who must adopt the new tool of reporting engagement besides the traditional strike action and (3 reporting organisations which must move towards a more result-oriented conformance with reporting frameworks.
The document discusses the evolution of ESG reporting standards in India from the 2009 CSR guidelines to the current Business Responsibility and Sustainability Report (BRSR) format introduced by SEBI in 2021. It provides details on the key reporting sections and parameters under the previous Business Responsibility Report (BRR) format and the enhanced disclosures under the new BRSR format. The BRSR format aims to strengthen reporting on climate, social and value chain issues through additional metrics and more granular disclosures.
Whitepaper integrated reporting in the CloudWorkiva
Integrated reporting combines traditional financial reporting with environmental, social and governance reporting into a single report. This provides a more comprehensive view of a company's performance and risks. There is growing demand from investors and other stakeholders for integrated reporting as it allows better evaluation of long-term sustainability. Producing integrated reports can help companies attract investors, safeguard reputation and mitigate risks. Collaboration software allows reporting teams to efficiently produce integrated reports by enabling real-time collaboration on a single document.
The BRSR report is mandated for the top 1,000 listed companies in India starting in FY22-23 to standardize sustainability disclosures. It provides a standardized format for companies to assess their ESG performance against peers. Initiating BRSR reporting will benefit companies by enabling them to check their readiness on key indicators, establish internal processes for data collection, and potentially improve operational practices and stock performance over the long term.
Assessment of CSR Law in Companies Act, 2013 – An Analysis of the Performance...inventionjournals
Introduction: The new law making CSR expenditure and reporting mandatory for certain companies is a new chapter in the Indian corporate world and has provided a necessary boost to the status of companies’ responsibility towards the stakeholders, and transparency and accountability of their actions. Need: The mandatory 2% spending of profits on CSR activities got mixed reaction from corporate executives. To ensure that the enforcement of the law isn’t limited to the term “cheque-book CSR”, regular exploration of the companies’ CSR expenditures and their consequent outcomes is absolutely essential. Objective: The paper aims to assess the outcome of Section 135 of the Companies Act, 2013, in the first year of its implementation among the BSE-SENSEX companies. Research methodology: Secondary sources were utilized for collecting profits and CSR expenditure figures of the selected 30 companies for conducting an ex-post analysis for the year 2014-15. Key findings of the study: Less than 15% of the BSE-SENSEX companies had spent on CSR activities an amount that is equal to or greater than the stipulated 2% of the average profits of the preceding 3 years as per Section 135 of Companies Act, 2013. Implications: Immediate attention of regulatory bodies is desired towards companies failing to dispense the funds earmarked for CSR as stipulated by the law to ensure compliance.
Crossing Boundaries Towards Driving Businesses Beyond Profitability (Mdm. Hjh...Corporate Registers Forum
The document outlines the SSM's Corporate Responsibility agenda and initiatives. It discusses why corporate responsibility is important both domestically in Malaysia and globally. It then details SSM's CR agenda parameters and objectives. Some key initiatives discussed include establishing a dedicated CR unit, forming strategic alliances with UKM, IIM and UNICEF, advocating for CR through various forums and conferences, and promoting CR globally through memberships with CSR Asia and CSE. The overall aim is to drive businesses beyond profitability and encourage sustainable practices.
This document provides an overview of social auditing and corporate responsibility. It discusses the brief history of corporate responsibility programs and how they have developed over time. It then explains the key principles, criteria, and process involved in social auditing for corporations. The document emphasizes that determining material issues and prioritizing them is an important part of social auditing.
Presentation by Managing Principal William Newman at the 2011 Management and Information Business Shows sponsored by the Michigan Association of CPAs Management Consulting Task Force.
This presentation was given at Det norske Veritas (DNV) headquarters for a seminar arranged by YoungShip and young professionals at DNV. My introduction was given in a joint session with Elisabeth Grieg, part-owner of the Grieg Group and former President of the Norweigan Shipowner's Association.
This document provides guidelines on corporate social responsibility (CSR) for central public sector enterprises (CPSEs) in India. Some key points:
1. CSR planning should involve identifying long-term, medium-term, and short-term CSR projects and activities. Projects should be closely linked to the business and address social and environmental concerns.
2. Implementation of CSR projects and activities should generally be done through specialized agencies rather than CPSE staff. Projects should create social impact and visibility while avoiding duplication with government programs.
3. CPSEs are required to allocate a percentage of annual net profits to CSR budgets set through board resolutions. Budgets are to be spent on CSR projects and activities and will
The development of Integrated Reporting is designed to enhance and consolidate existing reporting practices and, through collaboration, consultation and experimentation, to move towards a reporting framework that provides the information needed to assess organizational value in the 21st century. Integrated Reporting brings together material information about an organization’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operates. The initial focus is on reporting by larger companies and on the needs of their investors. The next steps that the IIRC will take in this direction are listed below.
This document discusses corporate social responsibility (CSR) and corporate governance. It notes that CSR initiatives can focus on environmental, philanthropic, ethical or economic responsibilities. Corporate governance refers to the rules and processes by which businesses are regulated and controlled. The functions of corporate governance include establishing purpose, structuring processes, inclusive growth, partnering with stakeholders, considering global impacts, and complying with laws. Codes and standards aim to increase transparency, accountability, and protect investor interests.
Sustainability Performance Management: How CFOs Can Unlock ValueSustainable Brands
This document discusses how CFOs can help companies unlock value from sustainability performance management (SPM). It makes the following key points:
1. Sustainability can provide significant business benefits like revenue generation, cost savings, risk management, and long-term value creation, but many companies fail to quantify and realize its full financial value.
2. CFOs and the finance function are well-positioned to structure SPM and link sustainability metrics explicitly to business performance in order to maximize value. They can treat sustainability as a strategic issue.
3. Applying a robust SPM framework with well-defined and consistent metrics can help companies measure meaningful outcomes and the value sustainability creates. This allows sustainability to be
Business Responsibility Reporting_EfficientCarbonZolt Energy
Presentation on Business Responsibility Reporting mandated by SEBI India, in-line with the National Voluntary Guidelines released by the Govt. of India
The Companies Bill 2012 was passed in the Lok Sabha on 18 December 2012. The bill seeks to consolidate and improve corporate governance and further strengthen the regulations for the corporates. One of the noticeable features of the bill is introduction of the most debated concept of Corporate Social Responsibility (CSR). The attached presentation by Ms Gayatri Subramanian, Program Coordinator - CSR & Corporate Governance, Indian Institute of Corporate Affairs, New Delhi, presents a clear picture on the new CSR Bill.
Similar to Preparedness of India Inc. for NVG (20)
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
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The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
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Preparedness of Indian Public Equities for
Business Sustainability (Environmental, Social and Governance)
Disclosure and Reporting
Issue briefing in context of SEBI mandating Business Responsibility reporting
December 2011
2. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
Snapshot
This briefing presents an insight into the current policy framework in
Through its board resolution passed on November 24th, 2011, the
India related to Business Responsibility reporting, especially the
Securities and Exchange Board of India (SEBI), has mandated listed
National Voluntary Guidelines on Social, Environmental and Economic
companies to report on Environmental, Social and Governance (ESG)
Responsibilities of Business and elucidates the need and drivers for
initiatives undertaken by them through a Business Responsibility (BR)
business sustainability reporting.
report which would form part of a company’s annual reports/filings. As
per SEBI’s directive the business responsibility reports should describe
The brief also describes the state of Business Responsibility reporting of
measures taken by companies covering the key principles of the
large Indian public equities based on findings of a study on the
'National Voluntary Guidelines on Social, Environmental and Economic
disclosure levels of Sensex companies with respect to National
Responsibilities of Business’ framed by the Ministry of Corporate Affairs
Voluntary Guidelines on Responsible Business.
(MCA). This SEBI directive will be immediately applicable to the top 100
companies (by market capitalization) and remaining companies will
Finally the brief discusses the way forward for Business Responsibility
come under its ambit in a phased manner.
reporting by the companies and the opportunities and challenges
associated with it. With the new regulation, adoption of Business
Responsibility reporting will see a sharp uptake which in turn might also
sensitize the remaining companies about the benefits of enhanced
disclosure of non-financial performance, such as that related to
environmental, social and governance metrics.
1 December 2011
3. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
National Voluntary Guidelines for the The national voluntary guidelines consist of 9 core principles, namely:
Social, Environmental and Economic Principle 1: Businesses should conduct and govern themselves with
Ethics, Transparency and Accountability
Responsibilities of Business (NVG-SEE)
The National Voluntary Guidelines for Social, Environmental and Principle 2: Businesses should provide goods and services that are safe
Economic Responsibilities of Business were released by the Ministry of and contribute to sustainability throughout their life cycle
Corporate Affairs1, Government of India, in July 2011. They outline
principles for responsible business action and provide guidance for the Principle 3: Businesses should promote the well-being of all employees
implementation of the same.
Principle 4: Businesses should respect the interests of, and be
These guidelines have been formulated to encourage adoption of responsive towards all stakeholders, especially those who are
sustainability reporting and mainstream disclosure on environmental, disadvantaged, vulnerable and marginalized
social and governance metrics in India. NVG-SEE provides businesses a
framework which enables them to move towards responsible decision Principle 5: Businesses should respect and promote human rights
making and urges them to adopt the “triple bottom-line” approach. Principle 6: Business should respect, protect, and make efforts to
restore the environment
SEBI has, in the recent years, laid increasing significance on disclosure of
non-financial measures and has lent support to ESG disclosure and Principle 7: Businesses, when engaged in influencing public and
standard setting initiatives. As per SEBI’s requirement under clause 49 regulatory policy, should do so in a responsible manner
of the listing agreement all public equities are required to comply with
certain disclosure norms related to corporate governance. SEBI’s Principle 8: Businesses should support inclusive growth and equitable
decision to get the largest businesses to adopt the NVG-SEE is a development
reaffirmation to continue to raise the bar for disclosure and drive
transparency in the marketplace. Principle 9: Businesses should engage with and provide value to their
customers and consumers in a responsible manner
1
National Voluntary Guidelines on Social, Environmental & Economic Responsibilities of
Business 2011,
http://www.mca.gov.in/Ministry/latestnews/National_Voluntary_Guidelines_2011_12j
ul2011.pdf
2 December 2011
4. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
Reporting process under NVG-SEE
NVG-SEE is flexible in its reporting approach. If companies are already Which reporting process and framework to follow?
following an accepted sustainability reporting framework then they may
continue to do so (see flow chart in the right column). Such companies Scenario Reporting process
are not required to publish a separate report, but can map the 9 core Business entities that are Furnish the same report
principles of NVG to the disclosures made in their existing preparing their Business with a mapping of the
sustainability/business responsibility reports. Companies who have Responsibility reports in a principles of these
nationally / internationally guidelines with disclosure*
decided to adopt the NVG but don’t have the necessary capacity to
recognized framework
furnish a full-fledged report can provide a statement of commitment to
adoption of NVG to their stakeholders and furnish primary details on
If not
activities undertaken in relation to these guidelines. Companies who
would like to adopt NVG to the full extent can furnish reports detailing
their performance on environmental, social and governance factors Business entities that are Furnish a letter signed by
based on the suggested framework (which is outlined in the Appendix to not fully capacitated to MD/ CEO indicating
prepare a detailed report commitment to the
this brief).
on RB practices Guidelines and a brief on
activities undertaken
If not
Business entities that Furnish a report on the
committed to furnishing a basis of the framework*
detailed Business
Responsibility report
* The SEBI directive mandating the largest companies to follow a
reporting framework will fall into these options
3 December 2011
5. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
other hand, regulations and compliance standards such as those by
Need and drivers for Business stock exchanges, government regulatory bodies etc are other drivers for
Responsibility reporting adoption of sustainability reporting.
All stakeholders including investors, government and consumers are
putting pressure on companies and demanding a performance report of International drivers for Indian businesses
companies’ activities to ensure they are not detrimental to Global presence: Indian companies which aspire to expand their
environment, society or employees. Business valuations are likely to footprint into new markets and compete globally have to address
differ if they reflected all the environmental, social and governance the risks and competition in the international arena. For flagship
(ESG) risks along with economic performance. Business Responsibility sectors such as the Information Technology, already many global
reporting seeks to fill this gap between corporate financial performance customers are seeking the Business Responsibility or Sustainability
and a company’s true performance which takes into account non- Reports as a qualifier to do business.
financial metrics as well. It enables measurement, tracking and
reporting of a company’s performance on non-financial metrics such as Attract capital: Another major international driver for domestic
environmental, social and governance (ESG) parameters. businesses to adopt Business Responsibility reporting is to attract
the interest of foreign investors who are looking to invest in Indian
The need for Business Responsibility reporting is not only for external companies which fare well on non-financial metrics as well. Also, a
shareholders but also for management and the board to better desire to list on a leading international stock exchange can greatly
understand the true drivers shaping long term stakeholder value and to influence a company’s disclosure levels on sustainability.
gain more insight into their company’s strengths and weaknesses. It
helps the company identify its operational shortcomings and Moreover, with the dialogue on climate change getting focused on
inefficiencies so that appropriate steps to improve its internal systems emerging economies such as India and China, domestic companies will
and processes can be taken up. Peter Drucker’s axiom, “what gets come under increasing pressure to report on non-financial parameters
measured, gets managed” aptly summarizes this point. Sustainability especially related to environmental impact. 2
reporting is needed to instill confidence in a company’s stakeholders
about its long term sustenance and ensure a continued social license to
operate.
Drivers for adoption of Business Responsibility reporting comprise of
both pull and push factors. Stakeholder groups such as investors,
2
customers, etc. are increasingly demanding greater level of disclosure International Finance Corporation and World Resources Institute, “Undisclosed Risk:
Corporate Environmental and Social Reporting in Emerging Asia”, April 2009,
and encouraging companies to adopt non-financial reporting. On the
http://pdf.wri.org/undisclosed_risk_emerging_asia.pdf
4 December 2011
6. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
Domestic drivers
Other drivers which will significantly enhance the adoption of Business Value addition of ESG programs for corporate performance
Responsibility reporting include3,2: %age of respondents
Regulatory framework - regulation either from a government body Maintain corporate reputation
and/or brand 77%
or from stock exchanges mandating disclosure of non-financial Attract, motivate and retain
55%
metrics is one of the biggest drivers for Business Responsibility employees
Meet society expectations for
reporting such as the recent SEBI regulation. good corporate behavior 35%
Improve operational efficiencies
and/or decrease costs 34%
Competitive advantage – By driving reporting, a company can use it
Strengthen competitive position 33%
to integrate sustainability into its core operating strategy which in
turn can help build a competitive advantage through resource Open new growth opportunities 23%
conservation, employee retention, better risk management, etc. Improve risk management 23%
Improve access to capital 4%
Reputation - Extensive media coverage and increased NGO activism
0% 20% 40% 60% 80% 100%
has awakened businesses to the need of incorporating sustainability
practices and systems. A positive brand image with regards to Respondents included CFOs, investment professionals, institutional investors, and corporate social
responsibility professionals
sustainability can help companies attract premiums for their Source: ‘Valuing corporate social responsibility,’ The McKinsey Quarterly, February 2009.
products and services and foster brand loyalty.
3
WBCSD and UNEP FI, "Translating environmental, social and governance factors into
sustainable business value",
http://www.unepfi.org/fileadmin/documents/translatingESG.pdf
5 December 2011
7. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
has 36 parameters reflecting nine key principles related to responsible
Status on Business Responsibility reporting business practices.
of Indian public equities
Disclosure Score =
Business Responsibility reporting is still in its infancy in India. No. of parameters on which company discloses information
Traditionally, the disclosure levels of Indian companies have been poor Total no. of parameters
compared to their western counterparts. One reason for slow pace of
adoption of responsibility reporting has also been the lack of demand
The data was collated from publically available information through
from Indian investors regarding disclosure of non-financial performance.
company annual reports, sustainability reports and company websites.
Many Indian investors have been primarily focused on financial returns
and have not laid so much emphasis on non-financial risk factors such as
(It should be noted that the study has adopted the NVG-SEE framework
environmental, social and governance performance. However, the
as- is and has not considered materiality of parameters with respect to
awareness regarding ESG issues has increased over the last few years
different sectors. This implies that some parameters may not be relevant
and so has investor interest in increased disclosure.
for all sector and disclosure score of companies in certain sectors may
not be accurately reflected.)
Current disclosure levels of BSE Sensex
Recently (in July 2011) cKinetics conducted a strategic assessment of the
The disclosure score varied across a wide range for these 30
current disclosure levels of India’s leading companies across multiple
companies, from 19% to as high as 78%. (It should be noted that till the
sectors to gauge the current level of preparedness of India Inc on
most recent annual disclosure, companies were not required to provide
Business Responsibility reporting.
this data and that the responsible business guidelines were announced
only in July 2011)
As part of the work, the companies comprising the Bombay Stock
Exchange Sensex (BSE 30) were reviewed for their current disclosure
levels viz. the reporting framework suggested by the NVG-SEE. These 30
companies account for INR 28,218 billion market capitalization(as on
July 22, 2011) representing almost 42% of the total market
capitalization of companies listed on the Bombay Stock Exchange.
The study calculated the disclosure score for all the 30 companies which
constitute the BSE Sensex. The NVG-SEE was used as the framework to
map the disclosure levels of Indian companies. The NVG-SEE framework
6 December 2011
8. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
Disclosure score follows a sectoral trend etc. However, while the frequency of the boards meetings seem to be
Industry No. of Range of of a high order, it is not clear as to the extent the board reviews
companies disclosure score sustainability performance and / or sets guidelines for formulating
Banking and finance 4 19%-28% sustainability strategies. Furthermore, no information exists on
Automobile 5 31%-78% mechanisms available to shareholders and employees to provide
Construction & Engineering 2 33% recommendations to the board/ Chief Executive.
Metals 4 39%-50% Disclosure on governance parameters
Electric Utilities 3 39%-61%
Oil & Gas 2 67%-72%
Frequency of board meetings
Heavy Electrical Equipment 1 39%
IT Consulting & Software 3 61%-78% Statement on Ethics, Codes of Conduct
FMCG 2 72%-75% Processes in place to ensure conflicts of
interest are avoided
Telecom services 2 22%-25%
Mechanisms for shareholders/employees
Realty 1 36% to provide recommendations to the Board
Pharmaceuticals 1 31% Person responsible for oversight review is
Source: cKinetics analysis independent from the executive…
Mandate and composition of committees
It has been observed that companies in Banking and Telecom Services
industry have the lowest disclosure score and those in the FMCG Governance structure
industry (personal products, cigarettes and tobacco products) have the 0% 50% 100%
highest disclosure score. The IT Consulting & Software companies also
have a reasonably high score. In the Automobile Industry, there is a Source: cKinetics analysis
clear distinction between disclosure scores of 2/3 wheeler companies
and those of car and commercial vehicle companies with latter having a Employee welfare and stakeholder engagement
much higher score. With regards to parameters related to employee well-being, the study
determined that the disclosure levels are not very high. . Though almost
Governance all companies report their total employee strength, hardly any mention
The study found that typically these companies have a high disclosure is made of the split between permanent and contractual employees.
level regarding governance issues. Almost all the 30 companies Additionally, only 8 companies were found to report the break- up of
disclosed information about the governance structure, constitution of employees by gender and only 4 disclose the number of persons with
the board of directors, responsibilities of the board members as well as disability, who form a part of their workforce. More than 50% of the
the sub-committees, internally developed code of conduct and ethics companies have provided details of training programs carried out during
the year but a standard metric is not used for disclosing such
7 December 2011
9. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
information. A little over 50% of the companies studied make explicit their annual reports that this parameter is not material to their
mention of observance of human rights in their operations. There is business. Though many companies report their total energy
very poor disclosure w.r.t. wages and salaries of skilled and unskilled consumption, very few disclose the percentage of renewable energy
employees.. used, if any. As is evident from the chart below, very few companies
disclose the percentage of recycled materials used as input raw
Stakeholder engagement is a mixed bag with half of the companies materials. Just about 50% of the sample companies typically provide
providing insight into their stakeholders and the nature of engagement details of efforts undertaken on reconstruction of bio-diversity and
with them. However, there is almost no disclosure about issues on mitigation of adverse impacts of GHG emissions arising from their
which formal dialogue has taken place between the company and its business operations and total water consumption.
stakeholders.
Disclosure on environmental parameters
Community engagement and customer value Reconstruction of bio-diversity
All 30 companies in the Sensex do believe in inclusive growth and make
Discharge of water and effluents
adequate disclosures about community investment and development
GHG emissions and efforts made to
work undertaken by them on account of fulfilling their corporate social reduce them
responsibility. Amongst the various principles elucidated in the NVG- Total water consumed and % of water
recycled and reused
SEE, inclusive growth is the only one for which there is 100% disclosure Renewable energy as % of total energy
amongst the BSE-30 companies. consumption
Use of energy saving processes and the
total energy saved
On the other hand, there is almost negligible disclosure on product Total energy consumed by the business
entity for its operations
labeling effort including information regarding customer health and
% of recycled input materials
safety, method of use and disposal etc. Although one needs to keep in
mind that this parameter may not be material for all the companies. 0% 20% 40% 60% 80% 100%
Source: cKinetics analysis
Environment
Till the current SEBI directive, India has not had a mandatory
environmental reporting for listed companies though the Companies Other aspects covered by the NVG-SEE
Act (1956) requires companies to disclose details regarding energy Disclosure levels are generally poor with regards to the other aspects of
conservation measures undertaken by them in their annual reports. 26 the NVG-SEE, namely on product life-cycle impacts, and with regards to
out of 30 companies surveyed have listed energy conservation policy advocacy efforts undertaken.
measures adopted by them and the remaining 4 have explicitly stated in
8 December 2011
10. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
Materiality – Another area to be addressed in the measurement of
The way forward for Business non-financial performance is creating an objective process of
Responsibility reporting determining which of the ESG issues are material. Materiality may
As outlined earlier, disclosure regarding the environmental, social and vary across industries and to some extent even across companies
economic responsibilities of business has multiple benefits in terms of within the same industry.
enhanced revenue growth and market access, cost savings, increased
access to capital, better risk management and improved brand value Reliability - Third party assurance for Business Responsibility is
and reputation. needed to ensure veracity of data disclosed by the management.
This will particularly be important to increase investor interest.
For ESG disclosure to become useful in the main-stream, it needs to be
accepted by the multiple stakeholders involved: businesses (of course), Management systems – Unlike financial reporting for which
investors, policy makers and non-government actors. A few key tracking and measurement systems are in place; data collection
parameters that need to be addressed are outlined below. with respect to performance on sustainability issues is challenging
and requires capacity building and coordination amongst various
Format standardization - A standard set of metrics accepted by all departments of the organization. Data sources for Business
stakeholders for presentation of sustainability performance will Responsibility reporting are diverse, inconsistent and systems for
allow for the disclosure process to become more meaningful. consolidation and reporting are less automated.
Comparability - Metrics which define ESG performance
Though uptake of Business Responsibility Reporting by Indian
need to be comparable across companies which will help
companies has been slow in the past, the new SEBI regulation is likely to
determine the relative standing of a company amongst its
provide the necessary impetus and increase adoption of the National
peers. Like performance can be compared across
Voluntary Guidelines of business responsibility. This would hopefully be
companies in the case of financial reporting, Business
the beginning of a trend with companies realizing the importance of
Responsibility reporting also needs to incorporate metrics
integrating sustainability into their core business philosophy and
which lend themselves to comparison.
enhanced disclosure of the extra financial metrics related to
Complexity – Financial reporting is much more mature and,
environmental, social and governance performance.
thus comparatively easier to capture. ESG related issues are
complex, which makes their quantification, assessment and
integration into decision making a difficult process.
However by having standardization within sectors, a lot of
the complexity can be avoided.
9 December 2011
11. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
Appendix: Business Responsibility Report - Suggested B-1
Principle 1 – Ethics, Transparency and Accountability
Framework4 • Governance structure of the business, including committees under the
Part -A Board responsible for organizational oversight. In case no committee is
Part A of the report includes basic information and data about the operations constituted, then the details of the individual responsible for the oversight
of the business entity so that the reading of the report becomes more • Mandate and composition (including number of independent members
contextual and comparable with other similarly placed businesses. It may be and/or non-executive members) of such committee with the number of
written in a free format incorporating at least the following: oversight review meetings held.
A-1 • State whether the person/committee head responsible for oversight
• Basic details of the business – Name; nature of ownership; details of the review is independent from the executive authority or not. If yes, how.
people in top management; location of its operations - national and • Mechanisms for shareholders and employees to provide recommendations
international; products and services offered; markets served; or direction to the Board/ Chief Executive.
• Economic and Financial Data – Sales; Net Profit; Tax Paid; Total Assets; • Processes in place for the Board/ Chief Executive to ensure conflicts of
Market Capitalization(for listed companies); number of employees; interest are avoided.
A-2 • Internally developed statement on Ethics, Codes of Conduct and details of
• Management's Commitment Statement to the ESG Guidelines the process followed to ensure that the same are followed
• Priorities in terms of Principle and Core Elements • Frequency with which the Board/ Chief Executive assess BR performance.
• Reporting Period/Cycle
Principle 2 – Products Life Cycle Sustainability
• Whether the report s based on this framework or any other framework
• Statement on the use of recyclable raw materials used
• Any Significant Risk that the business would like its stakeholders to know
• Statement on use of energy-efficient technologies, designs and
• Any Goals and Targets that were set by the top management for improving
manufacturing/ service-delivery processes
their performance during the Reporting Period
• Statement on copyrights issues in case of the products that involve use of
traditional knowledge and geographical indicators
Part B • Statement on use of sustainable practices used in the value chain
Part-B of the report incorporates the basic parameters on which the business
Principle 3 – Employees' well-being
may report their performance. Efforts have been made to keep the reporting
• Total number of employees with percentage of employees that are
simple keeping in view the fact that this framework is equally applicable to the
engaged through contractors
small businesses as well. The report may be prepared in a free format with the
• Statement on non-discriminatory employment policy of the business entity
basic performance indicators being included in the same. In case the business
• Percentage of employees who are women
entity has chosen not to adopt or report on any of the Principles, the same may
• Number of persons with disabilities hired
be stated along with, if possible, the reasons for not doing so.
• Amount of the least monthly wage paid to any skilled and unskilled
employee
4
Suggested framework from the NVG-SEE 2011
10 December 2011
12. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
• Number of training and skill up-gradation programs organized during the Principle 8 – Inclusive Growth
reporting period for skilled and unskilled employees • Details of community investment and development work undertaken
• Number of incidents of delay in payment of wages during the reporting indicating the financial resources deployed and the impact of this work
period with a longer term perspective
• Number of grievances submitted by the employees • Details of innovative practices, products and services that particularly
enhance access and allocation of resources to the poor and the
Principle 4 – Stakeholder Engagement
marginalized groups of the society
• Statement on the process of identification of stakeholders and engaging
Principle 9 – Customer Value
with them
• Statement on whether the labeling of their products has adequate
• Statement on significant issues on which formal dialogue has been
information regarding product-related customer health and safety,
undertaken with any of the stakeholder groups
method of use and disposal, product and process standards observed,
Principle 5 – Human Rights • Details of the customer complaints on safety, labeling and safe disposal of
• Statement on the policy of the business entity on observance of human the products received during the reporting period
rights in their operation
• Statement on complaints of human rights violations filed during the Part C
reporting period Part C of the report incorporates two important aspects on BR reporting. Part
Principle 6 – Environment C-1 is a disclosure on by the business entity on any negative consequences of
• Percentage of materials used that are recycled input materials its operations on the social, environmental and economic fronts. The objective
• Total energy consumed by the business entity for its operations is to encourage the business to report on this aspect in a transparent manner
• Statement on use of energy saving processes and the total energy saved so that it can channelize its efforts to mitigate the same. Part C-2 is aimed at
due to use of such processes encouraging the business to continuously improve its performance in the area
• Use of renewable energy as percentage of total energy consumption of BR.
• Total water consumed and the percentage of water that is recycled and
reused C-1
• Statement on quantum of emissions of greenhouse gases and efforts made • Brief Report on any material/significant negative consequences of the
to reduce the same operations of the business entity
• Statement on discharge of water and effluents indicating the treatment
done before discharge and the destination of disposal C-2
• Details of efforts made for reconstruction of bio-diversity • Brief on Goals and Targets in the area of social, environmental and
economic responsibilities that the business entity has set for itself for the
Principle 7 – Policy Advocacy
next Reporting Period.
• Statement on significant policy advocacy efforts undertaken with details of
the platforms used
11 December 2011
13. Preparedness of Indian Public Equities for leveraging Business Responsibility (ESG) Disclosure and Reporting
A cKinetics briefing in context of SEBI mandating Business Responsibility reporting
About cKinetics
cKinetics is an operational consulting and strategic services firm For more information visit www.ckinetics.com
exclusively focused on shaping scalable sustainability solutions with
businesses and investors. INDIA:
708 Hemkunt Chambers
With operations in India and in the United States, the firm has 3 focus 89 Nehru Place
areas: (a) resource efficiency on the fronts of carbon, energy, water and New Delhi 110019
waste; (b) renewable energy and (c) smart infrastructure.
USA:
Offerings 262 Ventura Avenue
Palo Alto, CA 94306
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and risk assessment / mitigation
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Blueprint Implementation
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Reports
Material Performance and
Management
Brand creation and brand
management
12 December 2011