By unveiling the ripple effect of CSR initiatives, we can understand how businesses can create lasting positive impacts and inspire others to join the movement.
ESG reporting has become a critical tool for the Indian coffee industry to drive sustainability efforts. By measuring and reporting their environmental impact, social initiatives, and governance practices, coffee companies in India enhance transparency, accountability, and trust.
The BRSR framework was introduced in 2018 as part of the Securities and Exchange Board of India’s (SEBI) efforts to enhance the quality of ESG disclosures by companies.
Through its materiality assessment process, Infosys has identified the following ESG issues as most material to its business: climate change and energy efficiency, data privacy and cybersecurity, responsible sourcing and procurement, and employee well being and diversity.
The Ministry of Corporate Affairs has updated its corporate social responsibility requirements, which have had a substantial impact on India’s CSR environment.
“Sustainability is not just a concept or a department in an organization anymore. It is integral to yourculture and a way of life. When you want to be two steps ahead, you need the conviction of everyone in the organization.” -Suraj BahirwaniPresident and Global Sales… Read More »Teamwork Makes the Dream Work: Corporate Sustainability as a Collaborative Endeavour
Amidst the trying economic and social happenings of the past 2 years, it has become more pertinent than ever to build resilient communities that minimize the damage caused by such circumstances. Sustainable practices can cater to that need by fortifying the foundations of individual organizations as well as overall communities. It is therefore important to adopt sustainable practices and contribute to the development of stronger national and global ecosystems.
The Securities and Exchange Board of India (SEBI), on 15th May 2021, introduced the Business Responsibility and Sustainability Report (BRSR). This has replaced the previously existing Business Responsibility Report (BRR). The focus on sustainability is a welcome addition as it nurtures improved environmental, social, and governance (ESG) disclosures.
The recent Companies (Accounts) Amendment Rules (2022) sheds light on the details of the CSR committee and board decisions on CSR Projects. Every company covered under the provisions of sub-section (1) of section 135 of the amendment are required to furnish a report on their CSR activities in Form CSR-2, which can be accessed here.
A CSR impact assessment is a process that aims to measure the delta change brought about due to the CSR activities and ascertain appropriate expenditure of a company’s CSR budget. It helps determine whether the company’s CSR activities align with their CSR policy objectives were met and whether the allocated funds were judiciously spent.