It is now easier than ever before for organizations in India to meet national and international transparency expectations, thanks to a new publication that maps Global Reporting Initiative (GRI) reporting against the requirements of the Securities & Exchange Board of India (SEBI).
How does the GRI-SEBI link help Indian companies?
Linking the GRI Standards to the SEBI BRSR Framework enables firms that produce a GRI report to use much of the same data to fulfil their regulatory obligations for a Business Responsibility and Sustainability Report (BRSR). The edition produced in collaboration with the Bombay Stock Exchange (BSE), has been revised to reflect GRI Universal Standards 2021.
As GRI research published in 2021 found, almost all listed companies in India disclose sustainability information – yet a majority do not follow globally adopted frameworks. The new linkage guide will help more Indian businesses to take the next step on their sustainability reporting journey, addressing growing demands from stakeholders for broad disclosure.
What are stakeholder thoughts on GRI-SEBI document?
Aditi Haldar, Director of GRI South Asia, said: “With SEBI introducing an expanded mandate for ESG disclosure this year, it is an opportune time for GRI to do more to support businesses in India to address their sustainability performance, as enabled by our adopted standards.”
“Given most BRSR indicators are already reflected in the GRI Standards, I encourage companies to make the transition now, meaning they commit to accountability while increasing opportunities and access in the global marketplace,” Haldar further commented.
Girish Joshi, Chief Trading Operations and Listing Sales, BSE, said: “The purpose of this revamped linkage document is not only to provide a bridging enabler for SEBI’s BRSR, but also to ease the process of onboarding firms to take a leap beyond domestic sustainability disclosure, setting a stronger foundation for unlocking true value with all stakeholders.”
Girish Ramachandran, member of the GRI Supervisory Board, and President of TCS Asia Pacific, added: “We are increasingly seeing that companies recognize the need to assess their sustainability impacts in a way that meets the needs of a multi-stakeholder audience.”
“It is significant, therefore, that the new linkage document reflects the importance of communicating effectively with a broader range of stakeholders,” Ramachandran concluded.