More than 50% of India’s leading companies disclose their carbon emissions: report

What’s the story

In a step towards India’s net-zero emissions target by 2070, a recent survey by PwC India found that more than half of the country’s 100 largest companies voluntarily report carbon emissions.

The research also shows that almost a third of these companies have set their own net zero targets.

Interestingly, “51% of India’s top 100 listed companies, as measured by market capitalization, disclosed their Scope 3 data for FY23, despite this being a voluntary disclosure in Business Responsibility and Sustainability Reporting (BRSR),” the report said.

Regulatory push for transparent sustainability reporting

The Indian government and regulators have announced new regulations regarding environmental, social and governance (ESG) aspects.

India’s transition to BRSR Core positions the country as a global leader in the transition to more transparent sustainability reporting.

Sambitosh Mohapatra, Partner & Leader, ESG, PwC India, said: “As the BRSR has become a mandatory report for companies, ESG considerations have become key strategic priorities in boardroom discussions.”

Companies that take measures to reduce their carbon footprint

The survey found that 44% of the 100 largest listed companies conducted life cycle assessments of their products/services.

A significant 89% disclosed information about leadership indicators. In addition, 49% of these companies have increased their use of renewable energy sources.

Key strategies for reducing emissions included the adoption of energy-efficient technologies such as LEDs and improved air conditioning, ventilation and heating systems.

There is also a shift to renewable energy sources to meet energy needs, as well as external power purchase agreements.

Regulatory push for transparent sustainability reporting

Companies that take measures to reduce their carbon footprint

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