With India’s economy set to reach $10T by 2035 and a Net Zero target for 2070, ESG is no longer optional. SEBI’s BRSR mandate now requires the top 1,000 listed companies to disclose ESG performance, with BRSR Core adding stricter compliance for the top 150.

With $1T in sustainable investment potential by 2030, businesses must align with evolving ESG standards. Forward-thinking companies are already integrating BRSR, CDP, GRI, and TCFD frameworks.

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ESG is showcasing exponential growth in India.

With India’s economy is projected to grow to $10 trillion by 2035, India is focused on creating a sustainable and inclusive future for its citizens. India is working towards achieving Net Zero by 2070 - making strides on all fronts like renewable energy, ESG regulations, emission reduction, etc.

According to a report by Standard Chartered, India has a high potential for growth in sustainable investing with an opportunity to mobilize $1 trillion towards top ESG priorities, particularly for financing the climate transition by 2030. The two primary fronts where India is showing the most growth are renewable energy and ESG integration in reporting and investment.

Though still in ESG infancy, India has a stringent set of rules with many laws that predate ESG. These rules ensure the welfare and protection of stakeholders from environmental, social, and economic aspects.

The Securities and Exchange Board of India (SEBI) has also made ESG disclosures mandatory for the top 1,000 listed companies, starting FY 2023, under its Business Responsibility and Sustainability Reporting (BRSR) initiative. Companies are mandated to include BRSR as a part of their annual reporting.

Furthermore, SEBI has also introduced BRSR Core, a subset of the comprehensive BRSR, consisting of a set of Key Performance Indicators under 9 ESG attributes. Applicable to the top 150 listed companies for now, these entities are mandated to disclose data and obtain assurance as per guidelines.

India also has a defined set of CSR mandates for companies with ₹5 billion net worth, ₹10 billion turnover, or ₹50 million net profit. These companies are required to spend at least 2% of their profits on CSR activities and disclose their impact.

While BRSR is standardizing ESG reporting, many forward-looking organizations have started reporting their ESG performances to comply with globally accredited frameworks such as CDP, GRI, TCFD, and IR. Many unlisted companies have voluntarily begun disclosing their ESG performance based on the BRSR-lite format.

Source : https://av.sc.com/corp-en/content/docs/Sustainable-Banking-Report-22.pdf