CHRONOLOGICAL DEVELOPMENT OF CORPORATE SUSTAINABILITY REPORTING PRACTICES IN INDIA

Abstract

Sustainability reporting frameworks have experienced significant development, with companies worldwide adopting these frameworks to assess, track, and communicate their performance in environmental, social, and governance (ESG) areas. This global shift towards sustainability reporting has been facilitated by established frameworks such as GRI, <IR>, SASB, UNGC, and CDP, which require businesses to disclose their sustainability performance based on specific indicators relevant to their industries. Additionally, many countries have introduced mandatory or voluntary requirements for ESG-related disclosures, emphasizing the importance of transparency and accountability in reporting on sustainability practices. The evolution of sustainability reporting frameworks has led to widespread adoption, with organizations encouraged to disclose their sustainability performance using standardized indicators. The Indian perspective highlights significant growth and evolution in ESG reporting since 2009, with the introduction of guidelines and frameworks such as BRR, NVGs, CSR Rules, and <IR>. The scope of reporting expanded over time, culminating in the recent introduction of BRSR in 2021, emphasizing the growing emphasis on sustainability practices.