A brief history of ESG and ESG reporting in India
Beginning 2011, the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs) notified by the Government, and the nine broad principles to be adopted by companies as part of their business practices were spelt out. In 2012 Business Responsibility Reporting (BRR) in line with NVG’s introduced by SEBI. This was made mandatory for top 500 listed companies
Recent years have seen more developments.
•The NVG structure was revised and replaced by the National Guidelines on Responsible Business Conduct (NGRBC)
•The principles remain broadly the same but the guidelines now articulate core elements for each principle which are essential to the actualization of the principle
•Allows reporting flexibility: companies may map the BRR requirements with an existing internationally accepted sustainability reporting framework National Voluntary Guidelines on Social, Environmental and Economic
•Further, the NGRBC puts the responsibility on the board for adoption of the principles
August, SEBI floats discussion paper seeking feedback on ESG disclosure by companies
yse remuneration data for 500+
How does one interpret the data? How does this compare with report standards across the globe? How serious are company's when pursuing ESG?
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