Climate change demands immediate attention, and the private sector is at the forefront of climate action! Organizations across the globe are actively communicating their Environmental, Social, and Governance (ESG) metrics to meet regulatory obligations and investor, consumer, and stakeholder demands.
The Indian business environment is evolving to reflect these principles, with the Securities and Exchange Board of India (SEBI) having made it mandatory for the top 1000 companies by market capitalization to report their ESG metrics from the FY 2022 –23. In this spirit, the SEBI has outlined the Business Responsibility and Sustainability Reporting (BRSR) format to allow companies to communicate their ESG disclosures.
We’ve outlined how to successfully integrate BRSR and meet your organization’s ESG reporting goals.
How Can You Successfully Integrate BRSR in Your Organization?
From collecting data across multiple sources to communicating it to the public, here’s how to successfully integrate BRSR into your organization’s processes.
1. Digitization is the Key to Establishing a Seamless Process from Collecting BRSR Data to Communicating It!
BRSR demands organizations demonstrate their commitment to sustainability by reporting quantitative and descriptive non-financial parameters. The truth of sustainability management is that these parameters shift across your business sites and operations. For instance, groundwater withdrawal may be a metric relevant to one of your business sites, while it may be redundant to another. This calls for customizing metrics across your sites.
Manually combining varying enterprise-wide data into a single BRSR report can waste both time and resources. Digitization can quickly resolve these issues, allowing you to customize your metrics at the site level and easily combine enterprise-wide quantitative and descriptive data to produce an elegant ESG report.
2. Analyzing Your BRSR Data is Key to Implementing a Long-Term Sustainability Strategy
Your ESG report is incomplete without a robust sustainability strategy in place. Remember that BRSR is not simply a mandate to report your sustainability metrics but also to demonstrate to the government, investors, consumers, and other stakeholders that your organization is making genuine progress in helping mitigate climate change.
In a 2021 survey of consumers in the US, Brazil, the UK, Germany, and India, 83% said that companies should actively be shaping ESG best practices. Hence, your BRSR performance is under scrutiny, and a sustainability strategy will help you enhance your performance.
Integrate Comprehensive Digital Solutions to Communicate Your BRSR Metrics and Enhance Sustainability Management
Reporting your BRSR metrics, managing enterprise-wide sustainability data, and driving sustainability performance can be challenging. Digital solutions can empower sustainability leaders to streamline management, saving time and resources.
Explore Benchmark ESG’s comprehensive suite of digital sustainability management and reporting solutions that help you collect and communicate your BRSR, GRI, CDP, and other sustainability metrics, in addition to helping you boost your organization’s sustainability performance. Contact us to learn more.
