ANNOUNCEMENTS
An evaluation and enhancement of ICRA's BRSR and policies practices are explored in the report, "Exploring Business Responsibility and Sustainability Reporting (BRSR) Through Peer Benchmarking and Policy Insights". By benchmarking against industry peers, specifically CRISIL Limited and CARE Ratings Limited, this study provides actionable recommendations for improving ICRA's sustainability disclosures.
In opening the report, the concept of BRSR is explained, emphasizing how it contributes to regulatory compliance and stakeholder expectations. Following this, peers with leading sustainability practices are identified and comprehensive disclosures are provided. A number of criteria are considered when choosing peers, including the ranking of the company in the industry, the ESG rating, the business revenue, and the quality of its sustainability report.
The methodology involves a detailed comparison of ICRA's sustainability performance and reporting with that of its peers, identifying relevant gaps and best practices. This benchmarking process reveals areas where ICRA's BRSR reporting and policies lags behind.
Based on these findings, the report offers specific recommendations for ICRA to enhance its BRSR practices. These recommendations include improving the depth of environmental disclosures, expanding value chain assessments, and adopting rigorous ESG data collection and reporting mechanisms. The report also outlines a strategic roadmap for ICRA to elevate its sustainability reporting standards, with both short-term and long-term initiatives aimed at aligning with industry leaders.
The outcome of this study provides ICRA with a clear understanding of its position relative to its peers and a detailed path forward to achieve excellence in BRSR and their policies. By implementing these recommendations, ICRA can enhance the quality and transparency of its sustainability disclosures, increase stakeholder confidence, and strengthen its market position as a responsible and sustainable business leader.
