Companies Need To Account For Their Environmental & Social Impact

By Author: Agile Advisors
Total Articles: 55
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It is now well understood that businesses can only sustain their continued growth if the society at large is satisfied with their contribution to the environment and social development. The key aspect includes climate change mitigation, supporting community health, education, promoting diversity at the workplace, providing equal opportunity for work, reducing waste generation, practising the principles of energy conservation and water conservation.

As a sustainability reporting consultant in India, we believe that in the long run they will not survive if they don't care about the environment and society. And that is why we believe the companies must prioritize setting up long term sustainability strategies for themselves. Understanding where they would be in 10 years with respect to their environmental and social goal is very important for companies. In our role as sustainability reporting consultant in India, we help companies identify critical sustainability and environmental issues related to their operation and those that their stakeholders will consider important.

We have seen that several countries have ...
... issued legislation around sustainability performance disclosures and have started criticising companies on several aspects of sustainability. Sustainability reporting has come a long way from being called non-financial disclosure to ESG disclosure now a days. In general, it is a process of communicating the environmental and social performance of the organisation to its internal and external stakeholders.

As a sustainability reporting consultant in India, we are seeing that globally there is a momentum among the companies to disclose their environmental and social performance, and a sustainability report is the best tool to do so. More than 15,000 companies globally publish their sustainability report based on the GRI Standards. Even in India, a lot of companies have embraced sustainability reporting and are disclosing their performance. Being a sustainability reporting consultant in India, we are supporting several companies in developing their annual sustainability reports.

The SEBI of India has developed requirements for companies to report on sustainability for listed companies. Initially, this was limited to only the top 100 companies, and now it's been extended to the top 1000 companies. Such requirements to disclose sustainability performance is not just happening in India. It is also happening the world over.

We are also now hearing as a Sustainability reporting consultant in India that a lot of financial institutions are looking at ESG performance of the organisation before investing in them or their projects. We hope that this momentum will increase in the future at a greater pace because it is not only beneficial for the organisation what is all good for the environment and the people. If the majority of the company starts disclosing sustainability performance and sets targets and strategies to reduce their negative impact, then this world would be a much better place, and we will truly attend sustainable development.

Agile Advisors launched its operations in 2016 and has since rapidly grown globally. We have offices in UAE, Bahrain and India. Our team brings in a plethora of expertise in sustainability cutting across different sectors.