Sustainability Services


BUSINESS RESPONSIBILITY REPORTING

Business Responsibility refers to the commitment of an enterprise to operate in an economic, social and environment sustainable manner while balancing the interests of diverse stakeholders. It is a disclosure of adoption of responsible business practices by a listed company to all its stakeholders. This is important considering the fact that these companies have accessed funds from the public, have an element of public interest involved, and are obligated to make exhaustive disclosures on a regular basis.

As per Clause 55 of the Equity Listing Agreement, it is mandatory for top 100 entities short listed by BSE and NSE based on Market Capitalization as on 31st March, 2012 to include BR Reports as part of the Annual Reports w.e.f financial year ending on or after December 31, 2012.

The BR reporting requirement is in line with the 'National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)' notified by Ministry of Corporate Affairs, Government of India.


CORPORATE SUSTAINABILITY REPORTING



Corporate Sustainability is a business approach that creates long-term consumer and employee value by not only creating a "green" strategy aimed towards the natural environment, but taking into consideration every dimension of how a business operates in the social, cultural, and economic environment. Also, formulating strategies to build a company that fosters longevity through transparency and proper employee development.

Corporate sustainability is an evolution on more traditional phrases describing ethical corporate practice. Phrases such as corporate social responsibility (CSR) or corporate citizenship continue to be used but are increasingly superseded by the broader term, corporate sustainability. Unlike the other phrases that focus on "added-on" policies, corporate sustainability describes business practices built around social and environmental considerations.

Indian and Global Sustainability Frameworks:

Following are the frameworks which the Sustainability Framework addresses:

Basic requirements

◉  Environmental legal requirements, laid down by the Govt. of India Occupational, Health & Safety legal requirements, laid down by the Govt. of India Social legal requirements, laid down by the Govt. of India Corporate level EHS&S requirements, if any

SA 8000:2014

◉  Social Accountability 8000, or SA 8000, is a code of conduct verification and a factory certification program that began in October 1997, in an effort to bring Social Accountability to the workplace.

◉  The concept of social accountability is not a new one, the goal being to improve global working conditions. SA 8000 is designed to enforce existing international agreements, including International Labor Organization conventions, the Universal Declaration on Human Rights, and the UN Convention on the Rights of the Child.





OHSAS 18001

◉  OHSAS 18000 is an international occupational health and safety management system specification. It comprises two parts, 18001 and 18002 and embraces a number of other publications.

◉  OHSAS 18001 is an Occupation Health and Safety Assessment Series for health and safety management systems. It is intended to help an organization to control occupational health and safety risks. It was developed in response to widespread demand for a recognized standard against which to be certified and assessed.

◉  OHSAS 18001 was created via a concerted effort from a number of the world’s leading national standards bodies, certification bodies, and specialist consultancies.

◉  This standard “Occupational Health and Safety Assessment Series (OHSAS) Specification, OHSAS 18001″ was officially released in April 1999. The OHSAS 18001 standard includes the principles laid down in BS 8800 (guideline issued by British Standards Institution in 1996). OHSAS 18001 has been developed to be compatible with the ISO 9001 (Quality) and ISO 14001 (Environmental) management systems standards in order to facilitate the integration of quality, environmental and OH&S management systems in organizations, should they wish to do so.

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