Business Responsibility Disclosures: Sustainability in Practice in India

NISM in association of IICA and GIZ had released the Report on the analysis of disclosures by Top 100 listed Companies on Business Responsibility on December 29, 2014 at Hotel Grand Hyatt, Mumbai.

The report contains a detailed analysis of the quality of disclosures in Business Responsibility Reports filed by the top 100 listed companies in 2012-13 was launched at the event by Shri Prashant Saran ,Whole Time Member, SEBI , Shri Ashish Chauhan, Managing Director and Chief Executive officer of Bombay Stock Exchange. The reports were analysed for completeness, consistency and comprehensiveness of information provided under the SEBI BRR format. The report covers principle wise analysis as well as on material issues for each sector to see where there is distinct scope for improvement. The report makes observations and recommendations for business themselves as well as for the regulator and the committee that framed the disclosure questions.

In a crisp keynote address, Shri Prashant Saran has mentioned that licence to operate cannot be taken for granted by businesses any more, and sustainability has to be integrated in the very economic fabric of the enterprise and be seen as a profit centre. The role of the Board is thus very important in making ESG core to business growth and impact. Mr Saran said that BRR is an important measure in preparing businesses for such a future in that it provides the grammar around which environment and social footprint of business activity can start being understood, measured and monitored by business on the one hand and by stakeholders on the other.

Event also hosted a technical session where the Panellists were Mr V.S.Sunderesan, CGM, SEBI; Mr Sandip Ghose, Director, NISM; Mr Ashish Chauhan, MD& CEO, Bombay Stock Exchange; Ms Beroz Gazdar, Vice President, Sustainability, Mahindra & Mahindra and Ms Neha Kumar, Senior Technical Adviser, GIZ (moderator) had discussed if BR disclosures are or can be a company’s ear on the ground for risks and opportunities.