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In one of its “most extensive” global surveys on corporate responsibility (CR) in 2017, global audit, tax and advisory firm KPMG found human rights an important issue in CR and sustainability disclosures, with 95 Indian companies acknowledging this, which was well above the global average.
Commenting on regulation driving human rights reporting in India, Santhosh Jayaram, Partner, Sustainability Services, KPMG in India, said: “The recent ratification by India of International Labour Organisation Conventions 138 and 182 clearly indicates the importance of human rights to the country. From a corporate reporting point of view, the Business Responsibility Report (BRR), an annual disclosure mandated by the Securities and Exchange Board of India (SEBI), requires the top 500 listed companies to report on nine core principles, one of which focuses on human rights.
“This mandate can be credited as the driver for most of India’s top 100 companies proactively disclosing their performance on human rights practices while also substantiating the same through existing policies and mechanisms.”
Some of the findings of the report that are India-specific state that due to strong regulatory policies around 99 per cent companies reported on their sustainability performance.
However, when it comes to sustainability reporting, only 18 Indian companies linked their business activities with the Sustainable Development Goals (SDGs) which is less than the global average of 39 per cent, a KPMG release said.
The business risks of climate change were acknowledged by 34 companies in their non-financial disclosures.
The survey covered 4,900 companies in 49 countries and regions, including India. The 10th edition of the survey, which began in 1993, focusses on providing guidance on good practices to corporate professionals and also serves as a guide to investors, asset managers and ratings agencies.
The survey has two research samples — The N100 — the largest 100 companies in each of 49 countries: 4,900 companies in total and the G250 — the largest 250 companies in the world, making it an extensive survey.
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