ANNOUNCEMENTS
Sustainability reporting has become an important aspect for organizations to report their non-financial information. In the recent times, when environmental challenges are increasing, it is becoming important for companies to report their business impacts. Sustainability frameworks like Global Reporting Initiative (GRI), Task-Force on Climate- related Financial Discloser (TCFD), Business Responsibility and Sustainability Reporting (BRSR) etc. are used by companies to report. Thus, it becomes necessary for companies to choose a framework that would represent their information in best possible way. The objectives of this report is to understand the conceptual aspect of the Global Reporting Initiative (GRI) framework and Business Responsibility and Sustainability Reporting (BRSR) in context of Oil and Gas CPSEs of India, analysing the extent of discloser made by the oil and gas upstream and downstream companies and finding which of those companies have a better environmental performance disclosing system with respect to framework. The research is based on four Indian Oil and Gas Central Public Sector Enterprise (CPSEs). The data is collected from annual reports and sustainability reports of the respective sample companies for the year 2021-22 and 2019-20. The method applied for analysis is content analysis, descriptive method and scoring method. The result of the content analysis shows that GRI framework is all together is more exhaustive than BRSR framework. However, looking into each sections of the frameworks, BRSR framework is more detailed in the social discloser aspect and has also introduced some new topics in the environmental discloser, which are not there in GRI framework. In terms of the scoring method, the result depicts that downstream companies have a better discloser of information than the upstream companies in both the (GRI and BRSR) framework. The upstream companies are lacking in their disclosure in both the framework. Lastly, in terms of the environmental performance discloser, the result shows that GAIL has better discloser of environmental information than the other companies in both the framework whereas Oil India Limited has a low performance in this section. Therefore, it can be understood that for Indian Oil and Gas CPSEs, the Business Responsibility and Sustainability Reporting framework is more beneficial than the Global Reporting Initiative framework to give their information.
Keywords: Sustainability disclosure, Business Responsibility and sustainability report, Global Reporting Initiative, Oil and Gas sector.
