Mumbai, Jul 10 (PTI) Over 96 per cent of the top 100 companies listed on the NSE and BSE have reported and published their Business Responsibility Reporting (BRR) in the public domain since it was introduced in 2012 by market regulator SEBI, according to a report.
The BRR serves as a useful disclosure to communicate the non-financial performance of listed companies, said the KPMG report.
This was introduced through a circular by SEBI in line with the National Voluntary Guidelines on social, environmental and economic responsibilities of business notified by the Ministry of Corporate Affairs in 2011.
SEBI mandated inclusion of BRR in the annual reports of the top 100 companies based on its market capitalisation on NSE, the report noted.
The report however found that, while three out of five companies have policies in place for all stipulated principles, only 57 per cent of the companies have provided links to view these available policies online.
The survey further revealed that eight out of ten companies extend their policies on ethics, bribery and corruption to their suppliers and contractors, while 98 per cent provide information on the stakeholder complaints received and resolved.
Employee grievance redressal was also cited as a top priority for most organisations. While 95 per cent provide details on complaints filed, and pending by the end of the financial year, few go into detailing the systems and processes related to monitoring and redressal, it said.
Nearly nine in every ten companies have guidelines and procedures in place for sustainable sourcing. However, less than 20 per cent of them disclose details on the percentage of products responsibility sourced, the report noted.
Further, nine in every ten companies have reported that they have identified environmental risks and 97 per cent of them have reported that they have identified various initiatives to address this and combat climate change.
The report also pointed out that three out of five companies review their business responsibility performance on an annual basis with most of them doing so through meetings of the board, CEO or any other senior officials of the organisation.
This is published unedited from the PTI feed.