A recent report has revealed that less than half the companies are aware of Environmental, Social, and Governance (ESG) reporting mechanisms and regulations in India.
The Deloitte India report on ESG preparedness adds that just 27 percent of businesses are well-prepared to meet ESG requirements.
The report further reveals that 83 percent of organizations have a designated sustainability leader, and just one-third (33 percent) have both- internal ESG champions/ambassadors and sustainability leaders.
However, at least 68 percent of organizations covered in the report have successfully integrated ESG strategies and mechanisms into their organizations.
“Nearly 75 percent of organizations cited that their organization communicates their ESG efforts, with awareness programs (85 percent) being the most-used method, followed by annual meetings (76 percent) and investor decks (50 percent),” said news reports citing the survey.
Discussing challenges and growth opportunities, the report found that organizations (65 percent) thought evolving ESG regulations to be a challenge in building ESG preparedness capacity, followed by multiple ESG frameworks (as indicated by 62 percent of firms).
