Corporate Reporting: Integrating NET ZERO Paradigm with Sustainability Disclosures

The transition from sustainability to ESG performance is indicating maturation of business practices to a more focused sustainability-oriented pathway. Climate change impacts on business operations is not debatable anymore. There are challenges to business managers to align business operations that embrace the environmental & social bottom line. Companies across the globe are motivated to become transparent in the way of doing business and create sustainable value to their stakeholders. Reporting the progress achieved on the sustainability front has thus become critical for corporates as this is becoming the Way of doing business globally. With Sustainability reporting as part of Global Reporting Initiative (GRI) now getting matured as Environmental, Social and Governance (ESG) reporting, Integrated Reporting (IIRC) and climate-related financial disclosures recommended by Task Force on Climate-related Financial Disclosures (TCFD), disclosures are a must for Corporates to get the acceptability from both shareholders & stakeholders and earn the licences to operate. This dedicated programme will provide detailed insight on sustainable pathways to be adopted by companies to reach net zero on or before 2050. It also provides detailed guidelines, approaches to adopt ESG compliant and enlist the benefits accrued to the companies in the process. Those companies, which ignore this will become increasingly uncompetitive and lose their social license to operate (Climate Action 100+, 2020). Across the Globe, companies are adopting the goal of net zero emissions by 2050, as suggested by climate scientists to limit the worst impacts of climate change.