Sustainability Reporting Trend in Indian Companies as per GRI Framework: A Comparative Study

Anurodh Godha and Prerna Jain

South Asian Journal of Business and Management Cases, 2015, vol. 4, issue 1, 62-73

Abstract: Sustainable development implies development that meets the need of the present generation without compromising the ability of future generations to meet their own needs. As a result of the global upsurge of interest in sustainable development, the sustainability reporting system has emerged. Sustainability reporting enables the creation of long-term value for organizations. It is forward-looking and includes quantitative and qualitative reporting measures. It is a key platform for communicating the organization’s economic, social, environmental and governance performance, reflecting positive and negative impacts. It can be undertaken by all types, sizes and sectors of organizations. Through the Global Reporting Initiative (GRI) Sustainability Reporting Framework, the GRI works to increase the transparency and exchange of sustainability-related information. The present study conceptually reviews sustainability reporting and its benefits for the entities. Here, an attempt has been made to examine the development in the Indian regulatory environment for sustainability reporting along with finding out trend, application level and status of the sustainability reporting practice of Indian entities as per the GRI reporting framework. The findings reveal that the development of the corporate governance standard is maturing in India. Amendments in laws and changes in the regulatory mechanism are creating pressure on entities to respond to and communicate for their sustainability concerns. With globalization, Indian companies are increasingly realizing that they have much to lose by not following sustainability reporting. In fact, many respected companies already get their sustainability reports audited by a third party to ensure its credibility. Sustainability reporting is therefore a vital step of managing change towards a sustainable global economy—one that combines long-term profitability with environmental care and social justice.

Keywords: Corporate responsibility; sustainability reporting; Global Reporting Framework; GRI status; application level (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sae:sajbmc:v:4:y:2015:i:1:p:62-73

DOI: 10.1177/2277977915574040

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