ESG compliance: Everyone wants to board India’s growing ESG compliance gravy train

ESG compliance: Everyone wants to board India’s growing ESG compliance gravy train

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“There are only a few professionals in India who have actually conducted a reasonable assurance on sustainability reporting and on the application of the conflict-of-interest requirement, the number of firms available for a company to choose from becomes very limited. There is also a lack of standard approach to reasonable assurance,” Jayaram said.

Synopsis

Since FY20, the top 1,000 companies had to disclose their ESG performance under the business responsibility report. From FY23, this report turned into the more comprehensive Business Responsibility and Sustainability Report (BRSR) that requires disclosure of nearly 1,600 data points across different aspects of ESG.

Mumbai: Nearly a dozen companies, including global index provider MSCI and the London Stock Exchange Group, have joined several proxy advisory firms in applying to India’s capital-markets regulator to become ESG rating providers locally as the world’s fastest-expanding major economy stresses its sustainability ambitions.ESG Rating Providers are the latest set of players to join the ESG compliance industry.Since FY20, the top 1,000 companies had

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ET Bureau

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