TIC Council Webinar Series Part 1: Sustainability Reporting and Best Practices

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TIC Council India is hosting a 3-part ESG webinar series. The topic of the first webinar will cover sustainability reporting and best practices. 

Sustainability reporting is the disclosure and communication of environmental, social, and governance (ESG) goals—as well as a company's progress towards them. The purpose is to help make organizations' decision-making processes more efficient and, in turn, enable them to reduce risk across their supply chain. This process reduces waste, yielding significant cost savings.

In India, the Securities and Exchange Board of India (SEBI) is making efforts to support the fulfilment of the Paris Climate Change Convention and the Sustainable Development Goals of the United Nations by introduction of  Business Responsibility and Sustainability Report (BRSR) initiative, A non-financial disclosure, BRSR has been stipulated mandatory by SEBI for the financial year 2022-23. The disclosures by top 1,000 listed companies (by market capitalisation) from FY2022–23 will be mandatory. They are required to adopt BRSR as soon as possible to help them showcase their sustainability position, objective, or performance, which ultimately results in improved market standing and better funding. BRSR is critical for a rising economy like India because it gives all stakeholders the chance to create a system of economic measurement that goes beyond traditional financial measurements.

Also, at such a critical juncture, it becomes imperative for India to learn from the global best practices when it comes to sustainability reporting. EU’s Corporate Sustainability Reporting Directive (CSRD) emerges as a model for Indian economy. The aim of the CSRD is to strengthen the sustainability reporting requirements, to increase the number of undertakings, and to open the verification market to IASP (Independent Assurance Service Providers). CSRD objectives are:

  • To bring more transparency and strengthen the reporting content and the assurance process,
  • To enlarge the application to middle-size and foreign companies,
  • To break the oligopoly of the audit firms for the delivery of assurance services.

The webinar will also thus delve into the requirements of BRSR and experience exchange in this regard. It will further discuss about the EU’s initiative of CSRD, and how EU is building a robust implementation framework. Key takeaways from CSRD which can be accommodated and contextualised into the Indian framework of BRSR will be reflected upon as well.

Themes of the webinar:

  • BRSR: bestowing legitimacy to green claims
  • TIC sector: facilitating industries in accurate and transparent in the BRSR framework
  • ESG: how auditing can lead to greater corporate competitiveness
  • EU CSRD: key takeaways for India
  • CSRD: how the EU is building a robust implementation framework

Inaugurated by: Shashibhushan Jogani, Chair, TIC Council India

Moderator: Sudhir Zutshi, Chair of Public Affairs Sub Committee, TIC Council India 

Speakers: 

  • Valerio Recagno, SG and Compliance Senior Director, RINA; and Vice Chair of ESG committee, TIC Council.
  • Dinesh Shetty, Global Training Manager, International Training Centre and Manager, Sustainability Services, South Asia Region, Bureau Veritas.
  • Muthu Krishnan, Head Sustainability, Delhi International Airport Ltd.

Date: Friday 25  November 2022

Time and Duration: 15:00-16:30 IST (10:30-12:00 CET)

Further Details:

The microphone function will be disabled for participants during the webinar but all questions for the presenters can be submitted through Webex via the chat function during the Q&A session at the end or ahead of time on the registration page.

For further questions, please do not hesitate to contact secretariat@tic-council.org

We look forward to welcoming you and/or your colleagues!