ESG reporting: In a move towards sustainability, 51 per cent of India's top 100 listed companies have voluntarily started disclosing their carbon emissions, according to a survey by PwC India. Additionally, about 31 per cent of these companies have revealed their net-zero targets, aligning with the Indian government's goal of achieving net-zero emissions by 2070.

The survey highlighted the impact of new ESG (environmental, social, and governance) regulations introduced by the government and regulators. India's adoption of the Business Responsibility and Sustainability Reporting (BRSR) Core framework positions it as a leader in fostering a more transparent and credible sustainability reporting landscape globally.

"51 per cent of India's top 100 listed companies by market capitalization disclosed their Scope 3 data for FY23 despite it being a voluntary disclosure in Business Responsibility and Sustainability Reporting (BRSR)," stated the report, 'Navigating India’s Transition to Sustainability.'

With the BRSR becoming mandatory, ESG considerations have become key strategic priorities in boardroom discussions, reflecting an enhanced awareness of sustainability's importance, noted Sambitosh Mohapatra, Partner & Leader, ESG, PwC India.

The survey also revealed that 44 per cent of the top 100 listed companies conducted life-cycle assessments of their products or services, while 89 per cent disclosed information on leadership indicators. Furthermore, 49 per cent increased their energy consumption from renewable sources.

Indian companies have adopted various initiatives to reduce emissions, including transitioning to energy-efficient technologies, adopting renewable energy sources, purchasing carbon offsets, and entering into off-site power purchase agreements.

As India aims for net-zero emissions by 2070, the corporate sector's proactive measures are expected to play a critical role in realising this ambitious goal, positioning India as a frontrunner in the global sustainability landscape.

(with PTI inputs)