ANNOUNCEMENTS
In the contemporary business environment, the automotive industry faces mounting pressure to adopt sustainable and transparent practices. Developing robust Business Responsibility and Sustainability Reporting (BRSR) policies has become imperative for ensuring strong governance and long-term success.
The need for stringent BRSR policies is highlighted by SEBI's mandate requiring the top 1000 listed companies to report BRSR Core Key Performance Indicators (KPIs) by the fiscal year 2023-24. For the top 150 listed companies, obtaining reasonable assurance for these KPIs is mandatory, underscoring the importance of accurate and transparent reporting. Adhering to these guidelines enables automotive companies to enhance corporate governance, improve stakeholder trust, and ensure regulatory compliance.
This paper details a policy-making process driven by internal resources and collaboration with internal stakeholders and departments, ensuring policies tailored to the company's unique context. Peer benchmarking of leading automotive companies provided insights into industry standards and best practices, facilitating the formulation of compliant and strategically advantageous policies.
Moreover, developing these BRSR policies meets the requirements of rating agencies, which assess companies based on sustainability performance and governance structures. Establishing robust systems and policies helps the automotive company improve ratings and attract sustainable investments, reinforcing its market position.
In conclusion, having comprehensive policies is crucial for automotive companies to navigate the evolving regulatory landscape, achieve strong governance, and drive sustainable growth. Through planning, stakeholder engagement, and understanding the ecosystem the company can ensure its BRSR policies are effective and aligned with best practices, positioning it as a leader in sustainable automotive manufacturing.
