Key frameworks in ESG reporting

GRI (Global Reporting Initiative) is a widely recognized framework for sustainability reporting that provides guidelines for organizations to measure and disclose their economic, environmental, and social impacts. It helps businesses communicate their sustainability efforts transparently and effectively. Implementing the GRI framework allows organizations to enhance stakeholder trust, attract responsible investors, and gain insights into their sustainability performance. By following GRI’s reporting standards, companies can benchmark their progress, identify areas for improvement, and align their strategies with global sustainability goals SASB provides industry-specific sustainability accounting standards that help companies identify, manage, and communicate financially material ESG risks and opportunities. It enables organizations to focus on the sustainability issues most relevant to their industry. By incorporating SASB standards, companies can improve their ESG disclosures, enhance investor confidence, and effectively address industry-specific sustainability challenges. SASB provides a comprehensive framework that aligns financial and non-financial reporting, enabling organizations to make informed decisions and drive long-term value creation. The SDGs are a set of 17 global goals established by the United Nations to address social, economic, and environmental challenges. They provide a blueprint for sustainable development and call for action from governments, businesses, and civil society. Aligning with the SDGs allows organizations to contribute to global sustainability efforts and showcase their commitment to creating positive impact. By integrating the SDGs into their strategies, companies can drive innovation, engage stakeholders, and collaborate towards achieving a more sustainable future. BRSR is an Indian regulatory framework that requires companies to disclose their efforts and performance in environmental, social, and governance areas. It aims to drive responsible and sustainable business practices in India. Complying with BRSR enables companies to demonstrate their commitment to responsible business conduct, positively impacting stakeholders and the environment. By providing transparent disclosures, organizations can enhance their reputation, attract socially conscious investors, and contribute to India’s sustainable development goals. The Task Force on Climate-related Financial Disclosures (TCFD) is a globally recognized framework that provides guidance to organizations on disclosing climate-related risks and opportunities. TCFD aims to help businesses and investors make informed decisions by improving the transparency and consistency of climate-related disclosures. Implementing TCFD recommendations brings several key benefits to organizations such Enhanced Risk Management in climate risks, Improved Investor Confidence, Future-proofing Business by aligning the businesses with the global transition to a low-carbon economy. UNGC is a voluntary initiative that encourages businesses to adopt sustainable and socially responsible policies and practices. It provides a framework for companies to align their strategies with ten universal principles related to human rights, labor, environment, and anti-corruption. Joining the UNGC demonstrates an organization’s commitment to ethical business practices and sustainable development. By integrating the UNGC principles into their operations, companies can enhance their reputation, access a global network of like-minded organizations, and contribute to advancing the UN’s Sustainable Development Goals.