India has witnessed a marginal dip in corporate responsibility-related reporting by the top- 100 companies, but continues to be among the best in the world in this aspect, a 49-country study has found.
It also tops in the list of countries with highest rate of corporate responsibility (CR) related information in annual reports, it said, adding 98 per cent of the top 100 companies have the details.
As against a 100 per cent compliance observed in 2015, the reporting rate dipped marginally to 99 per cent for 2017, the study by global consultancy major KPMG has said.
It can be noted that under the amended Companies Act, 2013, corporate social responsibility (CSR) reporting has been made mandatory for companies.
“ With the Securities and Exchange Board of India (SEBI) mandating the top 500 listed companies to disclose their non-financial performance, India scores high in this parameter. Strong regulatory policies have ensured that 99% of the companies have reported on their sustainability performance,” the Survey said.
“The Business Responsibility Report (BRR), an annual disclosure mandated by the Securities and Exchange Board of India (SEBI), requires the top 500 listed companies to report on nine core principles, one of which focuses on human rights,” Santhosh Jayaram, KPMG’s partner for sustainability services, said.
This mandate can be credited as the driver for most of India’s top 100 companies proactively disclosing their performance on human rights practices while also substantiating the same through existing policies and mechanisms.
India is ranked the highest, with 95 pf the top 100 companies acknowledging human rights in their CR reporting, the study said. From a global perspective, it said companies in the mining space have been found to be the most likely to acknowledge human rights in their reporting.
KPMG Survey of Corporate Responsibility Reporting 2017 was recently released. The survey provides a detailed look at global trends in Corporate Responsibility (CR) reporting and insights for business leaders, company boards, and CR and sustainability professionals.
The 2017 survey is the 10th edition, with research carried out from across 49 KPMG member firms including India. Each member firm reviewed annual financial and corporate responsibility reporting by the largest 100 companies, by revenue, in their own country.
The survey refers to two research samples – The N100 – the largest 100 companies in each of 49 countries: 4,900 companies in total and the G250 – the largest 250 companies in the world, making it the most extensive survey ever.