Environment, Social Governance ESG Report | Importance of ESG for Companies in India | Enterclimate

Companies worldwide are increasingly orienting themselves according to popular #ESG practices. It helps them reflect positively on their operation's direct and indirect effects on the #environment and on the well-being of the stakeholders. ESG reporting by a company would indicate that they have a long-term vision for the 3 Ps, i.e. Profit, People, and the Planet. Therefore the report suggests that the #business will work towards adopting ethical and socially just practices and not just working for financial gains. Such reporting can help the company to reflect a positive image among investors. It provides a rundown of the impact of the business in these three areas for the investors. India has introduced ESG reporting requirements for the top 1,000 listed companies in the country by market capitalisation. The Securities and Exchange Board of India (SEBI) stipulates that the disclosure must be made through a new format, i.e. Business Responsibility and Sustainability Report (#BRSR). that aims to establish a link between the financial results of a business with its ESG performance. #SEBI has mandated these sustainability reporting requirements by listed companies to enable businesses to engage more meaningfully with their stakeholders.
How an Environmental, #Social and #Governance report is prepared?
ESG reporting raises the #transparency of the corporation’s mission and its inclination towards environmental and social metrics.
The Environmental criteria in the report cover the company’s performance and practices t reflect how their practices are sustainable and help protect the environment. This criterion uses yardsticks like the resources and energy used by the #company, #compliance to pollution norms, adopting efficient practices for water, energy-saving, effective waste management practices, etc.
The second criterion, i.e. Social criteria, examines how a corporation manages its relationships with employees, suppliers, customers, and the communities in which it operates. Factors like customer satisfaction, community relation, gender and diversity, labour standards, and human rights are considered under these criteria.
The 3rd criterion, i.e. governance, includes the system of practices incorporated into the company's functioning. It has factors like the board's composition, the audit committee's structure, internal controls, rights of shareholders, the whistle-blower scheme, political contribution, etc
if you are wondering how reporting on these parameters benefits the corporation. So let's look into the audience of such reports. So, ESG reporting by a company has shown to invite positive feedback from different stakeholders like
• Investors
• Customers
• Suppliers
• Employees
• Regulators
• NGOs Media
• Competitors
• Academia
The requirements to prepare an ESG report
The documents and declarations that must be made by a company that will help prepare a complete ESG Report.
• So Documents on the potential risks to the environment on the ESG front and measures to handle them are required.
• Document on to ESG related projects or initiatives being afforded by the company
• Documents on the company’s governance indicating oversight mechanism on ESG strategy, policies and information
• Documents on Management issues like actions, schemes, targets and initiatives to generate and preserve value for the company and stakeholders.
• Performance documents that support sustainability outcomes from business activities.
Suppose your business has been practising ESG reporting after the recent changes brought by SEBI. In that case, It becomes crucial to understand the changes brought due to the transition from BRR to BRSR format. In the new format, The General Disclosures section has been expanded, and additional disclosures like on proximity of a company's operations to sensitive zones such as protected areas, water-stressed zones, etc., have been included in the new format.
ESG reporting will indirectly lead to increased access to capital for Indian Businesses through investment, as investors are the largest consumers of this data. Several Asset Management Companies (AMC) have ESG funds, which use ESG performance reports of a company to make investment decisions.
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[@lakshala]

Presented in a clear concise manner

[@alinakhan2846]

Thanks for the video....

[@visalatchi8913]

Thank you sir, for such a clear explanation😊

[@enterclimate1698]

Happy to help

[@fousia.c.mchirayikattumoha8495]

Let me know if there are any free course available to prepare esg report

[@sanyuktakaran8765]

Sir, it would be highly appreciated if you could clarify my doubts regarding a career in environments and sustainability after completing graduation last year from economics and having no job experience and no science background .
Is it a good career choice for me?

[@priyatandon7233]

What's the applicability

[@Climate_justice]

ESG explained in Hindi : czcams.com/video/xJwgG-SOSxI/video.html