Gri iimb-tcs study 2016

Sustainability Integration:
Corporate Reporting Practices in India

Table of Contents
About the Collaborators 03
Acknowledgements 04
Preface 05
Integrating Sustainability into Decision Making 06
The State of Sustainability Reporting in India 07
Preferences for Reporting 08
Reporting on Strategy and Analysis 09
Commitment from Senior Decision-Makers 10
Materiality Analysis: A Strategic Tool to Identify Key Impacts, Risks, and Opportunities 12
Behind the Disclosures 15
Conclusions 21
Annexure – Methodology 22
Disclaimer
Neither the GRI Board of Directors, the Stichting Global Reporting Initiative nor its project partners can assume responsibility
for any consequences or damages resulting, directly or indirectly, from the use of GRI publications. The ﬁndings and views
expressed herein do not necessarily represent the views, decisions or the stated policy of GRI or its project partners, nor does
citing of trade names or commercial processes constitute endorsement.

About the Collaborators
3
GRI
GRI is an international independent organization
that has pioneered corporate sustainability
reporting since 1997. GRI helps businesses,
governments, and other organizations understand
and communicate the impact of business on critical
sustainability issues such as climate change, human
rights, corruption, and many others. With thousands
of reporters in over 90 countries, GRI provides the
world’s most trusted and widely used standards on
sustainability reporting, enabling organizations and
their stakeholders to make better decisions based
on information that matters.
www.globalreporting.org
GRI Regional Hub South Asia
GRI's Regional Hubs advance reporting at the
country level, respond to the needs of local
stakeholders, build capacity and value, and
encourage the ﬂow of knowledge and participation
from the regions into GRI's global network and
activity. The main focus of the GRI Regional Hub
South Asia is to mainstream sustainability and
transparency alongside rapid economic growth.
The Regional Hub enables collaborative
engagements through capacity building, policy
advocacy, and research and consultations with
ministries. It also works closely with regulators,
business, industry associations, ﬁnancial market
players, business schools, and civil societies from
India and South Asia.
Indian Institute of Management Bangalore
The Indian Institute of Management Bangalore (IIM-B)
is located in Bangalore, India. Founded in 1973, as an
autonomous Central Educational Institution of the
Department of Higher Education, Ministry of Human
Resource Development, Government of India, IIM-B is
consistently ranked as one of the best business
schools in India and the Asia Pacific region. IIMB offers
doctoral and several Post Graduate programmes, as
well as a wide array of Executive training
programmes. In addition to its main academic
programmes, IIMB is also engaged in facilitating
research, offering consultancy services, conducting
seminars and academic conferences, and publishing
journals. www.iimb.ernet.in/
Tata Consultancy Services
Tata Consultancy Services is an IT services, consulting
and business solutions organization that delivers real
results to global business, ensuring a level of
certainty no other firm can match.
TCS offers a consulting-led, integrated portfolio of
IT and IT-enabled infrastructure, engineering and
assurance services. This is delivered through its
unique Global Network Delivery ModelTM,
recognized as the benchmark of excellence in
software development. A part of the Tata Group,
India’s largest industrial conglomerate, TCS has a
global footprint and is listed on the National Stock
Exchange and Bombay Stock Exchange in India.
For more information, visit us at www.tcs.com

Acknowledgements
GRI Regional Hub South Asia would like to thank Tata Consultancy Services whose support made this
publication possible and extend its sincere gratitude to the following Founding Consortium Partners.
About the team
Project Lead: Dr. Aditi Haldar and Prof. P D Jose
Content Development: Pallavi Atre with contributions from Claudia Stracchi
Text Revision and Editing: TCS Corporate Content Development team and GRI Communications team
Design and Layout Development: TCS Corporate Branding and Design team and GRI Communications team
4
Enduring Value

Preface
Sustainability reporting practices have evolved
considerably over the last decade, in line with
changing stakeholder expectations and regulatory
requirements. The level of disclosure by Indian
companies has also increased significantly, reflecting
a greater understanding of the links between
sustainability practices, corporate performance, and
competitive advantage.
This study—a collaboration between GRI Regional
Hub South Asia, IIM-B and TCS—explores the level of
disclosure among Indian reporting organizations. The
study specifically focuses on understanding the
qualitative aspects of disclosure in the area of
sustainability strategy, and its potential connection to
senior decision-makers’commitment, materiality,
risks, and opportunities. The study further assesses
what goes on behind the disclosure, specifically with
respect to actions leading to the integration of
sustainability in the core business strategy. It reveals
the practical ways in which reporting and
the reporting process have contributed to provide
critical support in the integration approach.
The study is based on sustainability reports from
46 Indian reporting organizations listed in GRI’s
Sustainability Disclosure Database from May 2013 to
December 2015. To enrich the study with valuable
insights and encourage others to integrate
sustainability in their practices, we engaged in
one-on-one interactions with six leading companies
in India.
In the long term, the transformation of an
organization towards a sustainable future depends
greatly on its ability to evaluate, measure, monitor,
and disclose its impacts. The power of trustworthy
and transparent disclosures that can create a
culture of accountability in the corporate boardroom
cannot be ignored; rather, it needs to be
strengthened. However, reporting is often seen as an
exercise in public relations rather than a tool for
corporate transformation which can contribute to a
sustainable economy.
The study reveals that there is a varying level of
maturity across Indian companies. However,
businesses are gradually integrating macro-economic
trends, showcasing material topics, and sustainability
performance is becoming a boardroom agenda,
with increasing commitment from senior decision
makers and greater use of GRI reporting guidance
over the years.
The authors would like to thank the many
organizations that have generously supported this
study. While the conclusions are our own and based
on a limited data set, it is hoped that these findings
will help hasten the transition of the Indian industry
onto a more sustainable trajectory.
5

'Integrating sustainability' implies incorporating
sustainability issues (environmental, social, and
broader economic factors) into an organization's
decision-making process, actions, and performance
management. Global companies are increasingly
talking about integrating sustainability in their key
business processes for different reasons—whether to
manage new risks, gain business opportunities, or
extend their role in society. Many companies claim
that 'sustainability is in their DNA' but fail to create
value, indicating the lack of integration in their core
business strategy. While many corporate
sustainability programs have achieved success on
initiatives like optimizing energy use, reducing CO
emissions, water conservation, and managing labor
conditions, few have broken out of the sustainability
silo and embedded this practice in the overall
organizational strategy for business value creation.
The need for integrating sustainability aspects in the
core business strategy is indisputable and important
to address global challenges and ensure resilient
business performance in a volatile marketplace. With
the understanding of business impacts and external
trends affecting an organization's future,
sustainability considerations in business decision
making have become inevitable. The lack of an
integrated approach limits an organization's abilities
to thrive in the future.
The sustainability reporting process requires
organizations to identify and prioritize their impact
on the economy, environment, and society. The data
from the reporting process, and subsequent analysis
can support organizations to define a strategy to
manage their impact and adapt to external trends.
High quality performance data is therefore essential
to integrate sustainability across the enterprise.
Companies that embed this data into their business
strategies will be able to make more informed
strategic decisions.
Integrating Sustainability into Decision Making
6

The State of Sustainability Reporting in India
[1] KPMG, GRI, UNEP, and Centre for Corporate Governance in Africa, Carrots and Sticks: Global Trends in Sustainability Reporting Regulation and Policy (2016),
Page 10, Accessed on 3 October 2016, http://www.carrotsandsticks.net/wp-content/uploads/2016/05/Carrots-Sticks-2016.pdf
[2] SEBI Circular (30 November 2015), PR No. 283/2015, Accessed on October 2016,
http://www.sebi.gov.in/sebiweb/home/document_detail.jsp?link=http://www.sebi.gov.in/cms/sebi_data/docfiles/32461_t.html
[3] The world’s 250 largest companies by revenue
[4] KPMG International, Currents of Change: The KPMG Survey of Corporate Responsibility Reporting 2015, Page 42, Accessed on 3 October 2016,
https://www.kpmg.com/CN/en/IssuesAndInsights/ArticlesPublications/Documents/kpmg-survey-of-corporate-responsibility-reporting-2015-O-201511.pdf
[5] GRI’s Sustainability Disclosure Database, http://database.globalreporting.org/search, Accessed on October 2016
[6] The GRI G4 Guidelines evolved into a set of modular, interrelated GRI Sustainability Reporting Standards (GRI Standards) in October 2016. The changes mostly
involve improving the structure and format of the content from G4. This is intended to make the GRI Standards easier to update, and even more suitable for referencing in policy
initiatives around the world. See https://www.globalreporting.org/standards
[7] Source: The data has been retrieved from GRI's Sustainability Disclosure Database on August 1, 2016. Data is collected by GRI and GRI Data Partners, and therefore consists of all data of
which GRI is aware. The arrows signify the different versions of the Guidelines released.
The practice of corporate sustainability reporting has
substantially increased over the last decade, as
stakeholders demand more information. Companies
and stakeholders have realized that greater
transparency fosters stronger relationships, which is
essential for building long-term trust.
The total number of instruments that require or
encourage reporting on sustainability information
has also grown significantly worldwide. A recent
global research identified 383 sustainability reporting
instruments in 64 countries, compared with 180
instruments identified in 44 countries in 2013.¹ India
also saw progress when the Securities and Exchange
Board of India (SEBI) announced a requirement for the
top 500 companies listed on Indian stock exchanges
to include business responsibility reports in their
annual reports.² Currently, the GRI reporting guidance
is the most popular among voluntary reporting
guidelines worldwide. As per the 2015 KPMG report
74% of the G250³ use the GRI guidance.⁴ To date, the
GRI Sustainability Disclosure Database holds more
than 35,000 reports of which more than 24,000 are
GRI reports.⁵
By using the GRI guidance, reporting organizations
disclose their most critical impacts—whether they are
positive or negative—on the environment, society,
and the economy. They can generate reliable,
relevant, and standardized information with which to
assess opportunities and risks, and enable more
informed decision-making, with both internal and
external stakeholders. GRI reporting guidance is
designed to be universally applicable to
organizations of all types and sectors, large and small,
across the world.
India, in particular, has shown a significant growth in
the number of companies that engage in
sustainability reporting in recent years (see Figure 1).
For this report we refer to GRI Guidelines
(versions 1-4), however since October 2016, the
GRI Guidelines have transitioned into GRI Standards.⁶
0
10
20
30
40
50
60
70
80
90
100
1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
G1
G2
G3
G3.1
G4
Figure 1: Number of Reports Published in India⁷
7

For the purposes of the study, the team reviewed G4
reports published in GRI’s Sustainability Disclosure
Database until December 31, 2015. The ﬁnal sample
included 46 reports, which were then studied with
reference to information related to the Standard
Disclosures‘Strategy and Analysis’of the G4
Guidelines. The data were then supplemented by
interviews with key decision-makers of a select group
of companies⁸.
[8] See Annexure for more details on methodology and sample used for the study.
[9] Core option: For each identified material aspect, the organization should disclose the generic Disclosures on Management Approach (DMA) and at least one
Indicator. Comprehensive option: For each identified material aspect, the organization should disclose the generic DMA and all indicators related to the
material aspect.
[10] World Business Council for Sustainable Development's (WBCSD), The Cement Sustainability Initiative (CSI) is a global effort by 24 major cement producers
with operations in more than 100 countries, who believe there is a strong business case for the pursuit of sustainable development.
http://www.wbcsdcement.org/index.php/en/about-csi
8
Preferences for Reporting
The study indicates significant variations in the 'in
accordance' option chosen for reporting among the
study sample. Of the 46 companies included in this
study, 34 preferred reporting 'in accordance' with
GRI's G4 Sustainability Reporting Guidelines' core
option, rather than the comprehensive option.⁹ Some
sectors, such as cement (which form part of the
construction material sector), showed a marked
preference for reporting under the comprehensive
option, while others such as automobile and auto
components, chemicals, textiles and apparels, limited
themselves to reporting on the core option. See
Figure 2 for the full sectoral trends.
0
2
4
6
8
10
12
Autom
obilesand
Auto
Com
ponentsCapitalGoods
Construction
M
aterials
Consum
erDurables
M
etaland
M
iningOiland
Gas
Banks
Chem
icalsand
Petrochem
icals
Softw
are
and
Services
Textiles,Apparels,Accessories
Others
Core
Comprehensive
Figure 2. 'In Accordance' Options Stated by Companies, by Sector
Subsequent interviews with the responding
organizations revealed that most, especially small and
medium-sized enterprises (SMEs) prefer to gradually
step-up the level of their reporting, beginning with
the core option and eventually moving on to the
comprehensive option. This is especially true of first
time reporters. Construction companies, primarily
cement manufacturers, are an exception. This is
probably a result of their involvement in WBCSD's The
Cement Sustainability Initiative (CSI), which
encourages peers in the sector to adopt
leading practices.
The findings with regard to the automotive sector
mainly reporting with the core option are also as
expected, since nine of the 11 companies in this
sector were SMEs with limited prior experience in
sustainability reporting.

Interestingly, a few (17%) have reported on both the
indicators under Standard Disclosure: Strategy and
Analysis (G4-1 and G4-2), providing descriptions of
impacts and/or risks and opportunities, despite
choosing the core option. This is possibly because
even as they are willing to disclose more, companies
still shy away from the pressure of publicly
committing to the comprehensive reporting option.
Overall, the findings from the study suggest that
Indian companies, even those that are considered
leaders in reporting, are still cautious about disclosing
sustainability aspects. Consequently, it may be
necessary to build both stakeholder awareness and
therefore pressure to improve the disclosure
performance of Indian companies.
9
[11] As per GRI G4 guidelines, while reporting in accordance with the Guidelines core option, companies should report G4-1.
Reporting on Strategy and Analysis
The 'Strategy and Analysis' section of the GRI report
provides an overview of and insights into an
organization's sustainability strategy, rather than
simply summarizing organization-level actions. We
have observed that board members, regulators,
investor relations, and rating agencies are
increasingly seeking information pertaining to
sustainability risks and opportunities, as required
under the 'Strategy and Analysis' section of
sustainability reports.
As per G4 Guidelines, the initial part of this section
requests statements from the senior leadership of the
company presenting the overall vision and strategy,
as well as short-term measures taken to manage the
significant economic, environmental, and social
impacts caused or contributed to by the organization.
The subsequent sections are expected to build
around the organization's key sustainability impacts
and effects on stakeholders, taking into account the
range of reasonable expectations and interests of the
organization's stakeholders. Additionally,
sustainability disclosures are also expected to focus
on the impact of sustainability trends, risks, and
opportunities on the long-term prospects and
financial performance of the organization.
Sustainability reports are useful only when
disclosures relate to relevant topics for the
organization and its stakeholders. 'Relevant topics'
are those that may reasonably be considered
important for reflecting the organization's economic,
environmental, and social impacts; or influencing the
assessments and decisions of stakeholders. Many
organizations use the methodology of identifying key
risks, opportunities, and impacts, drawing upon the
process for defining 'relevant' report content that
requires subjective judgments. The organization is
expected to be transparent about its judgments. This
enables internal and external stakeholders to
understand the process for defining report content.
The organization's senior decision-makers are
expected to be actively involved in the process for
defining report content, and should approve any
associated strategic decisions. In this way, the most
'material' topics can be identified. The methodology
applied in these steps varies according to the
individual organization. Specific parameters such as
business model, sector, geographic, cultural, and
legal operating context, ownership structure, and the
size and nature of impacts affect how the
organization identifies the material topics to
be reported.

10
Commitment from Senior Decision Makers
Sustainability reports address a diverse audience,
which includes investors, consumers, employees, civil
society, government agencies, non-governmental
organizations (NGOs), rating agencies, and others.
The trustworthiness of these reports could be greatly
enhanced if senior decision-makers discuss the
challenges in meeting targets as well as specific
timelines for achieving these targets. Stakeholders
are interested in knowing what subjects are critical
according to the management and how they wish to
address them. Figure 3 depicts themes for statements
from senior decision-makers in sustainability reports.
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
Main Challenges and Targets
Views on Performance
Key Events, Achievements, and Failures
Broader (such as macroeconomic or political)Trends
Strategic Topics or Key Priorities
Vision and Strategy
Figure 3. Key Topics Covered in Messages by Senior Decision-Makers
« Companies are responding to growing sustainability pressures, as 37% of senior management statements
discuss overall vision and strategy, particularly with regard to managing signiﬁcant sustainability impacts.
However, few companies disclose time horizons associated with their strategy. A clear disclosure associated
with a time horizon is essential, as it allows tracking of performance and impacts.
Despite this volatile context the one constant which remains is the aspiration of
individuals everywhere in the world to continuously upgrade their lives. The Tata
Group’s core purpose, our mission addresses exactly that: To improve the quality
of life of the communities we serve globally, through long-term stakeholder
value creation based on Leadership with Trust. Our ‘VISION 2025’ is to help
individuals everywhere achieve their aspirations. Over the next 10 years,
25 percent of the world’s population will experience the Tata commitment to
improving the quality of life of customers and communities. As a result, Tata will
be amongst the 25 most admired corporate and employer brands globally, with
a market capitalization comparable to the 25 most valuable companies in
the world.
Cyrus P .Mistry, Chairman Statement, SustaiNext 2015, Tata Motors Limited
‘Keeping these values in mind, we continue on our journey of being a sustainable
and responsible energy company with a focus on the priorities and goals we have
set for protecting and preserving our triple bottom line—People, Planet,
Profits—with an intended paradigm shift in our approach from ‘economic
growth’ to ‘economic development’.
S Varadrajan, Chairman and Managing Director Statement, Sustainable Development Report 2015, Bharat
Petroleum Corporation Limited

11
« Most of the statements include information on performance but do not mention the related target. Just 22%
of the statements provide an outlook on the organization's main challenges, targets, or goals associated
with a time horizon. The absence of speciﬁc targets limits the management's ability to track and evaluate
sustainability performance over the long term. It is unclear whether targets and time horizons are
unspeciﬁed because they don't exist or due to concerns about possible stakeholder reactions.
We promised to reduce our per capita electricity consumption by , meet50%
100% of our electricity requirements from renewable energy sources, and reduce
our carbon intensity.
Ramdas Kamath U, Executive Vice President and Head; Infrastructure, Facilities, Administration,
Security and Sustainability Statement, Sustainability Report 2014-15, Infosys Limited
We are aware of our role in ensuring environmental sustainability. By next
year we propose to frame and implement 'Sustainable Lending Policy and
procedures' to assess environmental and social risks of our project finance and
corporate loans.
Shikha Sharma, Managing Director and Chief Executive Officer Statement 2015, Axis Bank
Our sustainability will focus on theroadmap over the next three years
expectations of our key stakeholders, including our employees, and have defined
strategies to be more economically, socially, and environmentally beneficial and
impacting the triple bottom line—people, planet,
and profit.
Thomas Varghese, Business Head Statement, Sustainability Report 2015,
Grasim Bhiwani Textiles Limited (ABG Company)
« 43% of the sample organizations discuss 'strategic priorities' or 'key topics'. Areas covered include climate
change, natural resource management, energy conservation, renewable energy, livelihoods, inclusiveness,
community development, waste management, development of human capital, and building robust
stakeholder relations. However, again, the organizations provide less clarity on time horizons to address
these topics, including respect to internationally recognized standards and how such standards relate to
long term organizational strategy and success.
We have climate change and energy management, water and naturalidentified
resource management, environment conservation along with improving
livelihoods, and building a more inclusive society as our key areas of work
R Mukundan, Managing Director and CEO Statement, Sustainability Report titled Serving Society through
Science 2014, Tata Chemicals Limited
Our stakeholders have rated safety and health as Vedanta's highest strategic
priority and we continue to foster a culture of zero harm across all of our businesses.
Tom Albanese, Chief Executive Officer Statement, Sustainability Report titled Commit, Connect, Care 2015,
Vedanta Resource Plc

12
« Most statements articulate key events and achievements while talking less about failures. Few statements
provide reference to challenges such as accidents, fatalities, or workforce unrest.
[12] GRI, GRI G4 Implementation Manual, Principle of Materiality, page 11, Accessed September 2016,
https://www.globalreporting.org/resourcelibrary/GRIG4-Part2-Implementation-Manual.pdf
Materiality Analysis: A Strategic Tool to Identify Key Impacts,
Risks, and Opportunities
Material topics refer to topics that the company has
identified as relevant to address and report on in its
sustainability report. As defined in the GRI G4
Guidelines, 'Materiality is the threshold at which
aspects become sufficiently important that they
should be reported. Beyond this threshold, not all
material Aspects are of equal importance and the
emphasis within a report should reflect the relative
priority of these material Aspects.' The process of
defining material aspects is highly strategic and its
results reach out beyond just the production of a
sustainability report. Organizations can use the
materiality analysis to influence their overall strategy,
risk management, relationships, communications,
and even the design of products and services with
sustainability impacts in mind.
According to the G4 Guidelines, while defining material
aspects the organization takes into account the following
factors:
n Reasonably estimable sustainability impacts, risks, or
opportunities (such as global warming, HIV-AIDS,
poverty) identified through sound investigation by
people with recognized expertise, or by expert bodies
with recognized credentials in the field
n Main sustainability interests and topics, and Indicators
raised by stakeholders (such as vulnerable groups within
local communities, civil society)
n The main topics and future challenges for the sector
reported by peers and competitors
n Relevant laws, regulations, international agreements, or
voluntary agreements with strategic significance to the
organization and its stakeholders
n Key organizational values, policies, strategies,
operational management systems, goals, and targets
n The interests and expectations of stakeholders
specifically invested in the success of the organization
(such as employees, shareholders, and suppliers)
n Significant risks to the organization
n Critical factors for enabling organizational success
« The core competencies of the organization and the
manner in which they may or could contribute to
sustainable development
« 41% cite broader trends (such as macroeconomic or political trends) that pose risks. Some of the trends
include deepening poverty and inequality, water scarcity, increasing occurrence of severe climate events,
volatile markets, and cost of raw materials.
Water was recognized as one of the key challenges, especially in the rural
communities. To address this issue we have taken up the Integrated Watershed
development and drinking water projects.
R Mukundan, Managing Director and CEO Statement, Sustainability Report titled Serving Society through
Science 2014, Tata Chemicals Limited
Rigorous and concerted efforts were continued to maintain the highest safety
standards in all our operations. However, we report with sadness that the company
suffered the loss of four invaluable lives during the year. No harm anywhere to
anyone associated with ACC remains the company's top priority.
Harish Badami, Statement of the Managing Director and Chief Executive Officer, Sustainable Development Report 2015,
ACC Limited
Our focus on adherence to the seven absolute safety rules led to 233 lives being
saved, but despite best efforts we also incurred eight fatalities during the course of
the year. We have taken all necessary measures to avoid recurrence of such
unfortunate incidents and further strengthened our resolve towards achieving
zero fatalities by providing additional impetus to our programs and initiatives,
focused on creating a 'Safety First Culture' across the organization.
Marten Pieters, Statement of the Managing Director and Chief Executive Officer, Sustainability Report titled Footprint
IV Vodafone India Sustainability Report 2014, Vodafone India Limited

13
We looked at disclosures on materiality, considering
its transformative power, as the result of materiality
analysis to inform the business strategy. The study
found that all companies report on the process of
defining material Aspects; and 93% list the identified
Aspects (See Figures 4 and 5). While it is indicative of
progress in disclosure, there is a scope for
improvement by disclosing the identification of risks
and opportunities arising out of material Aspects. The
incorporation of sustainability-related risks into an
organization's risk management would ensure
inclusion of sustainability considerations in the
traditional business process.
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Materiality process listed Aspects Listed
Figure 4. Reporting on Materiality
NumberofOrganizations
0
5
10
15
20
25
30
35
40
Health
and
Safety
Custom
erAspects
Effluent
SupplyChain
Com
m
unityDevelopm
entBranding
Custom
erPrivacyBiodiversity
Anti-corruption
Ethicsand
Integrity
Com
petition
Energy
Com
pliance
Clim
ate
Change
Hum
an
Rights
AirEm
issions
Material Aspects
Figure 5. Material Topics Identified
[13] The identified material topics were extracted from the sustainability reports and the topics were categorized as far as possible into single categories, for instance,
Health and Safety includes material topics such as OHAS, safety, employee health, employee well-being and so on

14
While defining material aspects, a GRI-based report
should reveal and describe the impacts an
organization has on the world outside and also the
impacts that sustainability trends, risks and
opportunities may have on the long-term prospects
and financial performance of the organization. In the
process, an organization identifies its own impacts,
for example acknowledging its carbon emissions
which influence climate change, and significant risks
that climate change could pose to the organization's
future such as stricter legislation, extreme weather
events, water table depletion, and so on.
In the sustainability context, organizations have
begun considering sustainability related external
trends impacting them. This implies that
organizations need to evaluate all risk exposures
relative to potential sustainability issues, as well as
how those sustainability issues may impact other
risks present within the organization. Material
Aspects, when subject to risk evaluation, followed by
prioritization of impacts and probability, can then be
integrated into the risk management of an
organization. It becomes important to identify and
articulate interdependencies arising from
sustainability considerations on the business as a
whole and other risks present within the
organization.
Integration of risk arising out of material aspects
allows organizations to move sustainability from a
stand-alone initiative to an embedded consideration,
part of the larger picture. As Anirban Ghosh, Chief
Sustainability Officer, Mahindra Group explained,“At
Mahindra we went through an exercise of identifying
climate change related risks which individual
businesses run. They have then been integrated into
the Business Risk Register that is managed by the Risk
Office of the Group. It is now a mainstream activity
and does not need to be driven by the Sustainability
team anymore. Our role was to evangelize the cause
of climate change, get the risk office involved, get the
risks incorporated in the risk register and then have
them managed the way other business risks are
managed.”
G4 Guidelines expect that a description of key risks
and opportunities associated with sustainability is
provided in the single section of the sustainability
report. This disclosure is important as it enables
stakeholders to identify the key material Aspects
identified by the organization that are likely to
present greatest risks and opportunities to the
organization. This indicates that the organization
assesses sustainability risk factors which would
enable it to develop integrated, strategic risk
mitigation.
Although not all organizations in the study provided
a clear account, we found that companies are
increasingly acknowledging risks and opportunities
arising from sustainability trends: 39% provided a
description on risks and opportunities arising from
sustainability trends (see Figure 6). Grasim Bhiwani
Textiles Limited (ABG Company) in their Sustainability
Report (2015) stated,“Integrating sustainability risks
in the existing risk framework”is one of the enablers
for driving sustainability practice and performance in
the company.
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Description of Risks and Opportunities
Prioritization of Sustainability Topics as
Risks and Opportunities
Figure 6. Disclosure on Risks and Opportunities Arising from Sustainability Trends
[14] Grasim Bhiwani Textile Limited, Sustainability Report FY 2015, Page 18,
http://static.globalreporting.org/report-pdfs/2015/e7ca493c8f18ddb3d900ffaaed845063.pdf

To better understand what goes on behind disclosure, in
particular to interpret current and emerging practices, the
study was supplemented by six one-on-one interactions
with business heads responsible for driving the
sustainability agenda within their Group or company. The
aim of these interactions was to understand how different
elements of sustainability relate to a company or Group's
business strategy and activities. The interaction led to
interesting insights on the ways in which some of the
organizations are putting ideas into practice. These
examples highlight ways in which sustainability reporting
can lead to informed decision-making, foster improved
performance, and drive change.
Headquarters: Mumbai
Revenue: $41 Billion(2015-16)
Sector: Conglomerate
About: The Group, founded in 1857, is the third-largest
Indian private sector conglomerate operating in 36
countries with more than 120,000 employees worldwide.
ABG covers sectors such as viscose staple fiber and filament
yarn, metals, cement, branded apparel, chemicals,
fertilizers, insulators, financial services, telecom, and
IT services.
Vision, Mission & Approach
The vision of ABG is to become the leading Indian
conglomerate for sustainable business practices across
global operations. To enable this, the Group has voluntarily
adopted the ABG Sustainability Framework. The first step in
this sustainable business model is 'Responsible
Stewardship' across international operations. As ABG
operates in 40 countries, this means moving to more
comprehensive business management systems that
provide better performance, while reducing the Group's
impacts on 'Externalities'. The second step is 'Strategic
Stakeholder Engagement', to understand changes in
'External Factors' that will inevitably produce growing
impacts on the Group companies in the future. The third
and final step, 'Future Proofing', requires ABG companies to
embed sustainability trends in External Factors into their
strategic business plans, to minimize risks and find new
opportunities that will be presented by the requirements of
a sustainable planet and society by 2030 and 2050.
Actions Leading to Sustainability Integration in
Business Strategy
ABG has assessed key legislation to align performance with
international standards. It has created and adopted the ABG
Sustainability Framework of 140 policies, standards,
guidance documents, and training courses to help key
managers perform better and implement new techniques.
The Group has used IT to manage its comprehensive set of
legal and framework self-assessment questionnaires,
allowing performance assessment and compliance at 242
sites around the world. The responsibility for demonstration
of compliance and reporting of performance is squarely the
responsibility of the plant manager. ABG has also used
techniques like scenario planning to test business strategies
in different potential worlds of 2030 and 2050, to improve
the business leaders' knowledge and assist in strategy
development. Additionally, the Group has initiated the
creation of sustainability related 'External Factors' into the
risk matrix for current businesses and new projects and
acquisitions.
ABG tags businesses in three categories to understand their
sustainability potential:
1) Businesses which are sustainable with their current
business model and balance sheet
2) Businesses that will require investment to transform
themselves into businesses compatible with the needs of
a sustainable planet
3) Businesses that are unlikely to be sustainable in the
long term
Role of Reporting in Sustainability Integration
Internal reporting gives a picture of how far each business
has travelled towards one axis of international standards
and best practices. It helps understand the integration of
trends of relevant 'external factors' into its future business
strategy, with documentation of external factors that are
likely to affect a business in the future. Internal reporting
has helped the CEOs and managers be aware of the mega
trends and predictions for 2025.
Gaining from a Sustainability Driven Approach
By including sustainability considerations in scenario
planning for building strategy in new projects and
products, ABG has been able to engage CEOs on
sustainability topics.
Behind the Disclosures
15
Aditya Birla Group (ABG)
We are trying to develop an approach
where we reduce our impacts on
Externalities by improving our business
management systems, and, at the same
time, take into account that many changes
are now inevitable and trends are
appearing that need to be integrated into
our strategic thinking.
Tony Henshaw,
Chief Sustainability Officer, Aditya Birla Group
[15] External Factors essentially cover effects of climate change, water scarcity, traceability, reputational threats, legislation. GRI reporting demanding more
detailed disclosures and many others.

Headquarters: New Delhi
Revenue: $9.23 Billion (2013–2014)
Sector: Oil and Gas
About: GAIL (India) Limited was incorporated in August
1984 as a Central Public Sector Undertaking (PSU) under
the Ministry of Petroleum and Natural Gas (MoP&NG). As a
PSU, the President of India holds more than 56% of the
shares of the company. GAIL, India’s largest Natural Gas
Company, is one of the seven Maharatna PSUs.
Vision, Mission and Approach
GAIL intends to accelerate and optimize the effective and
economic use of natural gas and its fractions for the benefit
of the national economy. The vision of the company is to be
the leading organization in natural gas and beyond with a
global focus, while being committed to customer care,
value creation for all stakeholders, and environmental
responsibility.
Business Strategy
GAIL sustainability reporting journey began in 2009, with
the Department of Public Sector Enterprise (DPE) regulation
on mandatory sustainability reporting. This was revoked
within two years. However, GAIL continued reporting as per
GRI Guidelines. Sustainability is driven by the Corporate
Planning Department, responsible for driving and
communicating the company’s strategic priorities and
budgeting business activities. Hence, the integration of
sustainability in business strategy becomes easier for the
company, and there is buy-in from heads of other
departments. GAIL has also created an in-house ’e-
sustainability module’to capture, manage, and assess data
across various locations, including all business segments.
The front-end is maintained through a web-based
application and access is provided through the intranet
portal. The portal has helped the company to release the
GRI report at the same time as the annual report.
After the first year of reporting, GAIL decided to utilize the
vast amount of information collected. The company set up
an inventory of greenhouse gas emissions and water data,
to formulate an aspirational sustainability strategy titled
‘Aspiration 2020’, in line with the company’s‘Strategy 2020’.
The focused efforts on the sustainability journey at GAIL
began with sustainability reporting. Adopting GRI
guidelines prompted GAIL to create a one-stop-shop
window for sustainability related initiatives. GAIL
encouraged heads to departments to utilize the data
generated in the reporting process for decision making.
With effective sustainability reporting, GAIL was able to
benefit from better data management, and easily identify
gaps in enterprise-wide systems and procedures. It became
easier for the company to benchmark performance both
internally and externally, and replicate best practices across
locations. Approvals from the management and employees
were also garnered quicker, resulting in greater
accountability and transparency in operations.
16
GAIL (India) Limited
We strive to match the sustainability report
publication timeline with the annual report
publication, so that sustainability
information is available along with
financial information to external
stakeholders, making it a more effective
decision making tool.
Santanu Roy,
Deputy General (Corporate Planning),
GAIL India Limited

Headquarters:Kolkata
Revenue: $8 Billion (2015-2016)
Sector: Multi-Business Conglomerate
About: Founded in 1910, the Indian multi-business
conglomerate ITC Limited recently completed 100 years. Its
diversified businesses operate in five segments—fast-
moving consumer goods (FMCG), hotels, paperboards and
packaging, agri business, and information technology.
Vision, Mission, and Approach
The vision of ITC Limited is to sustain the brand as one of
India's most valuable corporations through world-class
performance, creating growing value for the Indian
economy and the company's stakeholders. The company
intends to enhance the wealth generating capability of the
enterprise in a globalizing environment, delivering superior
and sustainable stakeholder value.
ITC's Core Values, based on the principle of Trusteeship,
guide strategic thought and action and are aimed at
developing a customer-focused, high-performance
organization which creates enduring value for all its
stakeholders. Sustainability is at the core of ITC’s corporate
strategy and is embedded in its business models. ITC’s Triple
Bottom Line approach seeks to attain extreme
competitiveness, whilst at the same time enhancing its
contribution towards building social and environmental
capital. ITC calls this paradigm‘Responsible
Competitiveness’, which drives the sustainability of its
diverse businesses.
Business Strategy
ITC’s super-ordinate vision has spurred innovative business
models that deliver sustainable performance. The twin
objectives of ITC’s sustainability program are to provide
livelihood and environment security. The annual plans and
five-year rolling plans by business divisions strive to
integrate a Triple Bottom Line approach to performance.
Revisited sustainability and corporate social responsibility
17
ITC Limited
(CSR) policies enable prioritized consideration of
stakeholder needs and design programs for maximum
effectiveness, given the diverse competencies and
opportunities residing in its different businesses.
The publishing of a third-party assured report provides
credible communication to stakeholders on the company’s
core purpose to create societal value. Reporting has
brought in more robustness in the compilation of non-
financial data by incorporating advanced systems and
analysis to track and record key parameters. The process of
reporting helps guide strategic decision-making, including
investments, whilst retaining focus on sustainability.
The early adoption of a Triple Bottom Line approach
prepared ITC to embark on a reporting journey as early as
2002, when the reporting practice was at a nascent stage.
Reporting helps diverse businesses deliver sustainability-
focused operations, by sharing best practices and offering a
guideline to sustainability. The internalization of the Triple
Bottom Line approach at the planning level of business
divisions has led to innovations, for instance the e-Choupal
initiative, afforestation, and so on. ITC has also received
global recognition for its sustainability approach, inspiring
many other organizations to report, as evident in some of
their communications to the company on ITC’s
Sustainability Report. The number of visitors to the ITC
website who download ITC’s Sustainability Report has
increased over the years to over 700,000.
Reporting by all companies would enable
consumers, investors, potential employees
and others to make an enlightened choice
in favor of a company or its products,
thereby bringing in a market dimension to
incentivize the adoption of Sustainability
as a core value proposition. This would
unleash innovation and a multitude of
positive action that will eventually create
much larger societal and shareholder
value.
Nazeeb Arif,
Executive Vice President,
ITC Limited

Revenue : $8 Billion (2015-16)
Sector: Steel
About: JSW Steel Ltd. is an Indian company, the flagship of
the JSW Group. JSW Steel, after the acquisition of ISPAT
Steel, became India's largest private sector steel company
with an installed capacity of 14.3 million tons per annum
(MTPA) in 2015. JSW Steel’s Vijayanagar Works is the fastest
growing steel plant in India, and the first integrated iron
and steel plant to attain a capacity of 12 MTPA at a single
location.
The vision of JSW Steel is global recognition for quality and
efficiency, while nurturing nature and society. The company
intends to support India’s growth in core economic sectors
with speed and innovation. JSW Steel’s vision and mission
indicates its belief, commitment, and efforts in creating
growth while balancing the utilization of natural resources
and social development in business decisions
Business Strategy
To gain a common understanding of critical issues and their
impacts on business, JSW Steel has formed four board-level
committees. The appointment of the Group-level Chief
Sustainability Officer and a Chief Executive Officer for the
JSW Foundation for the community development initiatives
demonstrate that the board is mainstreaming the
sustainability agenda in a professional manner. In every
quarter, the Chief Sustainability Officer of the JSW Group
presents updates and action plans on sustainability
performance to the board.
An example of JSW Steel’s adoption of an 'integrated
thinking' or Triple Bottom Line approach can be understood
with the water resource, considered as a risk as well as an
opportunity. Efforts by the teams dealing with production,
environment management, and CSR have helped better
manage water resources in and around the operations in
water-stressed areas. JSW Steel has also established a
cement company to utilize all its slag.
Increased levels of transparency and disclosures have
greatly influenced the set up and strengthening of
processes. This includes conducting third-party assurance
every quarter across all sites of JSW Steel as well as top
three subsidiaries. An employee from the Corporate
Sustainability team accompanies the assurance provider on
all visits, thereby making the information gathering robust
and reliable. Reporting has also encouraged the setup of an
enterprise-wide framework where initiatives are tied to
material aspects, whether they relate to the environment,
community, or production. This framework is designed on
the basis of inputs received from all functional heads across
sites. Reporting as a process has helped the organization
understand the link across functions. For example, an
initiative to transfer maximum materials and goods by rail
rather than road. The consideration of cost, GHGs, and
safety aspects play a role in this decision.
Sustainability is entrenched in the JSW Steel boardroom.
The enterprise risk management framework now
incorporates elements such as environment, climate
change, safety, and social factors. Investor relations is better
at responding to queries and information requests from
global investors and rating agencies; the number of such
requests have increased in the last 18 months. Effective
sustainability reporting has also helped identify material
issues for the business and stakeholders. It has led to an
improvement in performance across sustainability
indicators, such as - operational efficiency, specific energy
and water consumption levels, occupational health and
safety, and so on. JSW Steel has been able to develop new-
age value-added products, with better utilization and
conservation of resources, and technology innovations that
optimize operations. It has been able to enhance its brand
value and competitive advantage, as evident from the
growth path. The company’s visibility of sustainability is
displayed on the corporate redesigned website, as well as in
its participation in various external platforms to showcase
success and learn from peers
18
JSW Steel Limited
The process of sustainability reporting has
led to improved understanding of the
material issues, their effect on the
functional units across the company, and
the identification as well as
implementation of relevant initiatives as a
key step in embedding sustainability in the
governance and business strategy.
Dr. S. Majumdar,
Chief Sustainability Officer, JSW Group

Revenue: $17.8 Billion (2015-16)
Sector: Conglomerate (Federation)
About: Mahindra and Mahindra Limited (M&M) is an Indian
multinational Group with operations in 18 key industries. In
addition to being leaders in the fields of utility vehicle
manufacturing, information technology, tractors, financial
services, real estate and vacation homes, they also have a
strong presence in aerospace, aftermarket, components,
consulting services, defense, energy, logistics, retail and
two wheelers.
The core purpose of the Group is, to challenge conventional
thinking and innovatively use all our resources to drive
positive change in the lives of our stakeholders and
communities across the world to enable them to Rise. This
ethos of enabling the wellbeing of stakeholders and
communities is captured in‘Rise’, the byline that goes with
and reflects the value of the brand. It is an inherently
sustainable way of doing business. Without the well-being
of the community, corporations cannot expect to survive.
The Group’s vision is to be one of the top 50 most admired
brands in the world by 2021, with a deep-rooted
understanding that the goal cannot be reached without
being a leading practitioner of sustainability.
Actions leading to Sustainability Integration in
Business Strategy
Each business in the federation of companies implements
programs under each of the three pillars of sustainability:
enduring business, empowering community, rejuvenating
the environment. Entities through these programs have the
opportunity to build green revenues, achieve cost savings
through environment-friendly actions, and evangelize and
enable the practice of sustainability in the supply chain.
Each business in the Group identifies relevant climate
change related risks and integrates them into their risk
register managed by the Risk office of the Group.
Sustainability dashboards reflect progress and lay out
action areas for every business. Sustainability processes and
results are integrated into the Group’s Business Excellence
Model called 'The Mahindra Way', which is practiced across
businesses. By 2017, the Group will have a well-
documented circular economy plan for 20 of its locations.
There is a step-by-step guide for identification of material
topics and indicators for companies within the Group.
Intensive engagement with suppliers on sustainability
topics for more than five years has enhanced the resilience
of the supply chain.Capacity Development programs, as a
part of the Mahindra Leadership University, helps a larger
number of employees be aware of and implement projects
on sustainability.
The adoption of GRI reporting Guidelines has helped
implement a structured approach, to gradually induct all
business units into the practice of sustainability-focused
operations. Reporting has helped empower the Group’s
sourcing team to better engage and assess risk within the
supply chain. The Group has participated in GRI’s Business
Transparency Program, to encourage transparency in their
supply chain.
The Group-wide energy monitoring program enabled
access to reliable data and helped take the decision to sign-
up for the EP 100 program. The tractor business has been
tracking water availability as a variable for demand
forecasting. This led to the identification of micro-irrigation
as a business opportunity and the initiation of the business
through an acquisition.
19
Mahindra & Mahindra
Limited
The best place for corporations who wish to
practice Sustainability and gain guidance
is the GRI reporting framework, as the
questions have a bias towards action.
That's the first purpose it serves
Anirban Ghosh,
Chief Sustainability Officer,
Mahindra Group

Revenue: $42 Billion (2015-2016)
Sector: Automotive
About: Tata Motors is a leading global automobile
manufacturer with a portfolio that covers a wide range of
cars, sports vehicles, buses, trucks, and defense vehicles. It is
India’s largest automobile company and part of the $100
billion Tata Group founded by Jamsetji Tata. Tata Motors is
regarded as a leader in commercial vehicles in each
segment, and amongst the prominent players in the
passenger vehicles market in India.
Tata Motors strives to innovate in mobility solutions with a
passion to enhance the quality of life. It aims to be among
the top 3 global commercial vehicle and domestic
passenger vehicle companies, achieving sustainable
financial performance with exciting innovations by
financial year 2019.
Actions leading to Sustainability Integration in
Business Strategy
Tata Motor’s sustainability agenda aims to deliver on
sustainability commitments by developing and delivering
innovative sustainable mobility solutions. The materiality
assessment exercise is inclusive of stakeholder
engagement, with the prioritization of material aspects to
derive sustainability targets. Supplier engagement helps
ensure business continuity and avoid reputational risks. The
Life Cycle Assessment (LCA) approach helps minimize the
environmental impact of products over the lifecycle. The
company has partnered with a research based organization
to conduct a climate adaptation study. This will help
identify the impacts of climate change, forming the basis of
Tata Motor’s future strategies on climate change mitigation
and adaptation.
Transparency is one of Tata Motors’principles and reporting
enables the organization to adhere to this norm. Reporting
is the best medium to demonstrate sustainability
performance, and Tata Motor’s believes that societal and
environmental commitments contribute to long-term
sustainable growth of the organization. Reporting provides
insights on their processes, offering opportunities to track
progress and shed light on areas that need improvement.
Insights drawn from the reporting process also help devise
strategy, which in turn drives Tata Motors’sustainability
journey.
Tata Motors has been able to increase awareness on
sustainability across the organization, with effective
reporting practices in place. Linking and alignment of
organizational strategies and initiatives with the global and
national sustainable development agenda has helped
deliver compliant performance. The company has also been
able to prioritize and fast-track some of the key material
sustainability initiatives.
20
Tata Motors Limited
Reporting helped us identify and
strengthen areas of improvement, thus
driving our sustainability performance to
the next level.
Arvind Bodhankar,
Head Sustainability,
Health and Environment,
Tata Motors Limited

21
Conclusions
While it is well-accepted that organizations that
embed sustainability into the business strategy are
better positioned to address emerging global
challenges as well as deliver superior business
returns, the pace of this integration is moderated by
various challenges, including:
n Very few companies demonstrate senior
management involvement and leadership
n Absence of proactive interest from users of the
sustainability-related information, such as
consumers and governments
n Dependency on a regulatory regime of
disclosure rather than business case driven
voluntary approach
There are several motivations for sustainable,
responsible behavior of businesses, including if
investors aim for strong financial performance and
believe in the contribution to advance social,
environmental, and economic performance. On the
other hand, business managers should be
strategically convening dialogues with various
functions to identify resilience of their portfolio
companies in dealing with current and future
challenges.
The few organizations, especially those who
embarked upon the sustainability journey early on,
emphasize that reporting can play a significant role in
driving the organization's strategy. One company in
the study noted,“We realized that some of the
indicators, if not under GRI's reporting framework,
probably would have been skipped from our
businesses agenda. For example, even though we
had a well-established supply chain management
program, engaging with suppliers on sustainability
topics began only after we came across an indicator
demanding disclosure in this regard.”
The key findings of the study are:
1. There Needs to be Greater Disclosure on
Risks and Opportunities Arising out of
Sustainability Trends
Even when acknowledging the risks and
opportunities arising from sustainability trends as
being a part of the risk management framework,
companies are hesitant to disclose a clear and
definite account of these risks. Only 39% of the
firms in this study provided a comprehensive
description of the risks and opportunities arising
from sustainability trends. Given that discussion on
risks and opportunities is critical and enhances the
organization's ability to develop integrated,
strategic risk mitigation measures, there is an
urgent need for the management to pay greater
attention to this aspect.
2. Identification and Disclosure on Material
Aspects is Increasing
The study shows an increasing level of interest by
organizations in identifying material aspects as
well as their disclosure, indicating increased
possibility to look at business risks and
opportunities. Over 93% of the firms studied
identified and disclosed material aspects. These
material aspects often have a significant financial
impact in the short term or long term on an
organization. They are, therefore, also relevant for
stakeholders who may otherwise focus strictly on
the financial performance of an organization. This
information, when made available, presents a clear
overview of topics which organizations think are
critical.
3. Senior Decision makers are Taking Ownership
on Sustainability Issues
The reporting process and disclosure requirements
encourage organizations to monitor global trends,
benchmark peer performances, and track policy
and regulatory changes, and societal expectations.
Consequently, reporting helps the firms prioritize
key topics for the short, medium, and long term.
Many businesses recognized there are numerous

22
macroeconomic and political trends that can pose
risks in the long term. Some of the trends identified
include deepening poverty and inequality, water
scarcity, increasing occurrence of severe climate
events, volatile markets, and the rising costs of raw
materials.
Interestingly, while senior decision makers
generally articulate key events and achievements,
few have started disclosing on challenges such as
accidents, fatalities, or workforce unrest.
4. Reporting Plays an Essential Role in
Sustainability Integration
Mature reporters acknowledged that transparency
is a key requirement for conducting business in
today's context, and reporting enabled them to
manage these requirements. Reporting also
provided insights on the organization's processes,
made tracking progress more robust, and provided
insights on areas that need improvement. Further,
reporting is becoming an imperative to
demonstrate leadership in sustainability.
Due to GRI reporting requirements and the
evolution of regulatory bodies on mandatory
reporting, sustainability is now entrenched in the
boardroom; leading to improved governance of
sustainability impacts. We also observed that
reporting organizations are increasingly able to
respond to queries from global investor and rating
agencies by drawing information from the
'Strategy and Analysis' section of sustainability
reports.
Annexure – Study Methodology
Among the most reliable secondary sources for
gleaning sustainability disclosure practices of
organizations are the standalone sustainability
reports. Further, if these reports are based on the GRI
G4 Guidelines and follow the‘in accordance’option,
either core or comprehensive, it is likely that the
reports are transparent about the organization's
impacts, mitigation strategies and focus on topics
that are material to the organization. This is because
the G4 Guidelines place major emphasis on following
the principle of stakeholder engagement and focus
on materiality assessment, processes that helps
organizations identify sustainability topics to focus
and report on.
For the purposes of the study, the team reviewed G4
reports published in GRI’s Sustainability Disclosure
Database until 31 December, 2015. The GRI G4
Guidelines were launched in May 2013. Between the
years 2013–2015 a total of 174 sustainability reports
were published from India. The study sample
included 46 company reports, which were then
evaluated against the with reference to information
related to Standard Disclosure‘Strategy and Analysis’
and‘Materiality’of the G4 Guidelines.
The data was then supplemented by interviews with
key decision-makers in a select group of companies.
The potential interview list was created by screening
the sample on turnover, sectoral representation, and
number of years of prior reporting history. Companies
with the highest turnover as of March 2015 were
shortlisted. Companies from diverse sectors were
included in the sample (see Figure 7). Only companies
with a minimum of five years of prior history of
reporting were considered, on the assumption that
those which have reported over a longer time period
are more likely to have better integrated
sustainability concerns into their strategies. Of the
seven companies that the study reached out to, there
were three companies which responded positively to
participate in an interview. In addition, three other
Indian business groups with a combined turnover
exceeding $65 billion and a history of sustainability
reporting were also added to the interview sample.

23
0 2 4 6 8 10 12
Automobiles and Auto Components
Capital Goods
Construction Materials
Consumer Durables
Metal and Mining
Oil and Gas
Banks
Chemicals and Petrochemicals
Software and Services
Textiles, Apparels and Accessories
Others
Number of Reports
Figure 7. Number of Companies Reviewed, by Sector

TCSDesignServicesIMI10I16
About GRI
The Global Reporting Initiative (GRI) is a leading international organization in the sustainability field. Its
Secretariat is based in Amsterdam with seven Focal Point offices located around the world, including one in India.
GRI produces the world's most trusted and widely used standards for sustainability reporting, the GRI Standards,
which enable organizations to measure and understand their most critical impacts on the environment, society
and the economy. Thousands of reporters in over 90 countries use GRI's reporting guidance – a free public good –
for their reporting.
The GRI Standards are developed and maintained using a consensus-seeking approach, and considering the
widest possible range of stakeholder interests which includes business, civil society, labor, accounting, investors,
academics, governments and sustainability reporting practitioners.
GRI Regional Hub South Asia
GRI's Regional Hubs advance reporting at the country level, respond to the needs of local stakeholders, build
capacity and value, and encourage the flow of knowledge and participation from the regions into GRI's global
network and activity. The main focus of the GRI Regional Hub South Asia is to mainstream sustainability and
transparency alongside rapid economic growth.
The Regional Hub enables collaborative engagements through capacity building, policy advocacy, and research
and consultations with ministries. It also works closely with regulators, business, industry associations, financial
market players, business schools, and civil societies from India and South Asia.
Indian Institute of Management Bangalore
The Indian Institute of Management Bangalore (IIM-B) is located in Bangalore, India. Founded in 1973, as an
autonomous Central Educational Institution of the Department of Higher Education, Ministry of Human Resource
Development, Government of India, IIM-B is consistently ranked as one of the best business schools in India and
the Asia Pacific region. IIMB offers doctoral and several Post Graduate programmes, as well as a wide array of
Executive training programmes. In addition to its main academic programmes, IIMB is also engaged in facilitating
research, offering consultancy services, conducting seminars and academic conferences, and publishing journals.
http://www.iimb.ernet.in/
All content / information present here is the exclusive property ofTata Consultancy Services Limited (TCS).The content / information contained here is correct at
the time of publishing. No material from here may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form
without prior written permission fromTCS. Unauthorized use of the content / information appearing here may violate copyright, trademark and other applicable
laws,andcouldresultincriminalorcivilpenalties. Copyright©2016TataConsultancyServicesLimited
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that
delivers real results to global business, ensuring a level of certainty no other firm can match.
TCS offers a consulting-led, integrated portfolio of IT and IT-enabled infrastructure, engineering and
TM
assurance services. This is delivered through its unique Global Network Delivery Model ,
recognized as the benchmark of excellence in software development. A part of the Tata Group,
India’s largest industrial conglomerate, TCS has a global footprint and is listed on the National Stock
Exchange and Bombay Stock Exchange in India.
For more information, visit us at www.tcs.com

Gri iimb-tcs study 2016

More Related Content

Gri iimb-tcs study 2016