Majority of top-100 firms making disclosures about carbon emissions: PwC India

Supplementing the efforts of the Authorities to attain a net-zero emission goal by 2070, as many as 51 per cent of the top-100 firms have began making disclosures on a voluntary foundation about carbon emissions, says a PwC India survey.

The survey additional mentioned that about 31 per cent of the respondent firms have disclosed their net-zero targets.

The report analysed publicly accessible BRSR experiences of high 100 firms (Nifty 50 firms and NEXT 50 listed firms) and their response to the regulatory requirement of necessary reporting below the BRSR for the monetary yr ended March 31, 2023.

The Authorities and regulators have launched new rules pertaining to ESG (environmental, social and governance) for companies. The transition to BRSR Core positions the nation as a frontrunner within the international transition in the direction of a extra credible and clear sustainability reporting panorama.

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“51 per cent of India’s high 100 listed firms by market capitalisation disclosed their Scope 3 information for FY23 regardless of it being a voluntary disclosure in Enterprise Duty and Sustainability Reporting (BRSR),” mentioned the report, ‘Navigating India’s Transition to Sustainability’.

This, it added, “sheds mild on how Indian companies are taking a step additional in ESG reporting as Scope 3 emissions are essential to know an entity’s internet zero journey.”

“With the BRSR turning into a compulsory report for companies, ESG issues have turn out to be key strategic priorities in boardroom discussions. This can be a testimony of the improved consciousness of the significance of sustainability and accountable enterprise practices,” mentioned Sambitosh Mohapatra, Companion & Chief, ESG, PwC India.

The survey additional mentioned 44 per cent of the highest 100 listed firms performed the life-cycle evaluation of their services or products, 89 per cent of the businesses disclosed their data on management indicators, 49 per cent have elevated their power consumption from renewable sources.

In line with the report, the important thing initiatives which led to a discount in emissions included transitioning to energy-efficient applied sciences equivalent to LEDs, adopting environment friendly air-conditioning, air flow, and heating programs, shifting to renewable sources for securing power wants, buying carbon offsets, and coming into into off-site energy buy agreements.

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