NEW DELHI: Delhi Management Association (DMA) and BIS jointly hosted a workshop on upcoming ESG based Frameworks of SEBI and BIS on 22nd July 2021 to create awareness and disseminate information about the recently introduced disclosure requirements under business responsibility and sustainability reporting, covering environmental, social and governance perspectives, which will be applicable on the top 1,000 listed entities by market capitalization.
The sustainability space is fast evolving in India, with a focus on ESG matters.
A lot of standards and frameworks have been published or under development by various regulatory authorities in India that are specific to ESG matters, which are expected to further the confidence of the investors, in their decision-making process.
These frameworks are broadly categorized as:
(a) Business Responsibility and Sustainability Reporting (BRSR),
(b) Social Stock Exchange (SSE),
(c) The Indian CSR (Requirement) Standard,
(d) The Indian Assurance Engagement Standards (specific to Non-Financial Performance),
(e) The Indian CSR BLC and ALC Certification Scheme.
In view of the upcoming and published frameworks of SEBI and Bureau of Indian Standards, the Delhi Management Association and the Bureau of Indian Standards jointly conducted the webinar for public awareness and advocacy.
The objective of the webinar was to provide a broad overview of the upcoming frameworks/standards.
The workshop was conducted under the aegis of CSR and Sustainability Committee of DMA, chaired & moderated by Dr Neelam Gupta, (Chairperson, CSR & Sustainability Committee of DMA and Founder President & CEO of AROH Foundation).
Along with Dr Gupta, many stalwarts from the industry like Hemant Gupta (MD, BRTSIF and MD & CEO, BSE Samman CSR Ltd), Mukesh Kumar (Head of the center for E2E in CSR & Business & Human Rights, IICA), Dr Bhaskar Chatterjee (Chairman, MSD 10, BIS standards and Secretary General & Executive Head of Indian Steel Association), Rajib Kumar Debnath (Convener of Panel P7/MSD10, BIS standards and Managing Partner, Inspired4Accounting and Advisory Services LLP), Snehlata (Sc F & Head, Management & Systems Department, BIS Standards, Ministry of Consumer Affairs & Public Distribution) and Dr R S Dabas (Founder & CEO, Centre for Individual & Organizational Excellence & Vice President, DMA) joined as the key speakers.
Dr Neelam Gupta opened the session while explaining briefing about various frameworks of ESG space in India, its various disclosures relating to ESG risks, sustainability performance, environmental metrics, and social factors in her address.
There after Hemant Gupta elucidated on SEBI’s upcoming framework pertaining to Social Stock Exchange framework through an educating presentation.
Mukesh Kumar also enlightened the audience on Business Responsibility and Sustainability Reporting (BRSR) framework through a presentation.
Dr. Bhaskar Chaterjee spoke about the third framework of The Indian CSR (Requirement) Standard and reiterated how the BRSR is an initiative towards ensuring that investors have access to standardised disclosures on ESG parameters and Access to relevant and comparable information will enable investors to identify and assess sustainability-related risks and opportunities of companies and make better investment decisions.
He further stated that the higher ESG disclosure standards and transparency will enable companies to better demonstrate their sustainability objectives, position and performance, which will result in long term value creation, and help to attract more capital and investment.
Later on, Rajib Kumar put the spotlight on broad importance of The Indian Assurance Engagement Standards through his comprehensive presentation.
The webinar was studded by another edifying session by Snehlata on Standards of BIS and The Indian CSR BLC and ALC Certification Scheme.
Dr R S Dabas thanked the distinguished panelists and the participants in his valedictory remarks for an interactive and stimulating session and assured the audience that DMA would be taking up more such initiatives and knowledge sharing sessions for the benefit of CSR stakeholders.
