CII launches ESG Guidebook and Ready Reckoner for Boards of Directors
Confederation of Indian Industry (CII) launched the Publication titled “ESG Guidebook and Ready Reckoner for Boards of Directors” at an interactive session held with Board members and independent directors. The Guidebook, prepared in partnership with PwC, provides a practical, step-by-step reference to ESG and sustainability strategies based on leading global practices and the framework prescribed in India. The Guidebook aims to help Indian business enterprises adopt ESG within the organisational structure, processes and performance to achieve ESG transformation.
The increasing emphasis on ESG transformation across the globe has led to development of ESG regulations and standards. In India, Ministry of Corporate Affairs (MCA) and Securities Exchange Board of India (SEBI), among others, have adopted global standards and laid down several guidelines and regulations specific to the Indian market. Companies must comply with ESG regulations based on the jurisdiction in which they operate.
These regulations and stakeholder expectations have led companies to embrace ESG aspects in their business strategy. Subsequently, Board of Directors (BoDs) around the globe have recognised ESG as an important agenda for boardroom discussion. For a significant number of Indian corporates, integrating all the guidelines, regulations and adhering to the reporting standards consolidated into the generically referred ESG (Environmental, Social, Governance) report, may require guidance and support.
This guidebook aims to bridge the gap and establish clear context on ESG fundamentals. Beginning with an overview of ESG concepts, the Guidebook helps understand the ESG ecosystem and delves deeper into the reporting fundamentals. At every juncture, the Guidebook provides the BoDs with actionable insights to implement requirements in their organisations. It also includes an ESG Ready Reckoner with a checklist that acts as a manual to verify whether the organisation complies with the practices and requirements. With this guidebook, Board members will be equipped in identifying risks and opportunities and be able to re-align their organisational purpose and integrate ESG as a key pillar of their growth strategy.
4 September 2024
Mumbai