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ESG reporting by Indian cos improved significantly post SEBI Push

The improvement is a result of markets regulator Securities and Exchange Board of India's push for ESG disclosures, which has witnessed a number of companies putting up ESG data increase from a meagre 127 in fiscal 2020 to 330 in fiscal 2022.

A stark improvement in the ESG disclosures by companies was noted based on their integrated reports, sustainability reports, and business responsibility and sustainability reports.

"The energy and utilities sector saw close to 50% companies reporting on ESG parameters. While service sector entities have traditionally been robust in disclosing ESG data, the rising awareness among financial institutions in adopting ESG practices in their operations has further led to 41% of the companies in the last 3 fiscals reporting ESG data," it said.

"As reflected in CareEdge's latest study, there has been a substantial jump of 160% in ESG reporting from FY20 to FY22 by Indian corporates, which is quite encouraging. Not only does this align with the Indian government's focus on Green Growth emphasised in the latest Union Budget, but it also aids the country's commitment towards achieving Net Zero by 2070," Mehul Pandya, MD & CEO, CareEdge said.

"With market regulator SEBI's circular on Business Responsibility and Sustainability Reports making ESG disclosures mandatory from FY23 for the top 1,000 listed entities, I believe there will be a further boost for Indian corporates to transition towards sustainable practices," he added.

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