List of companies that are India�s most sustainable released by CII
Posted on: 16/Mar/2016 10:03:06 AM
A survey has released the list of companies theatre India`s most sustainable firms. Among the top 10 are corporate giants such as RIL, Vedanta, Mahindra and Mahindra, Wipro and Tata Motors. The data was based on responses to the Information Request (IR) by the Confederation of Indian Industries (CII). However, this may not be a complete list as only 18 companies out of the 100 profiled responded to the Request. The 100 companies belonged to 20 industry sectors. Out of the 18, two companies responded only partially. The other 82 did not respond or declined to participate.
The CII said, When companies in a sector do not share information in the process, they make a dent on overall sector performance. Transportation, other financial services and media had the lowest overall scores. That also reflects the lack of transparency in those sector. The impact of requirements of corporate governance, and transparency and disclosures in the Companies Act 2013 have definitely helped companies do better on governance. Companies have adequate disclosures on board structure and committees, whistle blower mechanism for key stakeholders, and risk management framework for addressing business, financial as well as sustainability risks. They also have employee code of conduct to ensure ethical operations and policy for conflict of interest management.
The Sustainable Plus Platinum label was given to ten companies, Sustainable Plus gold to seven and the other 83 companies got Sustainable Plus Bronze. Consistent through the data were gaps in reporting certain aspects, which included rotation of auditors, identification of sustainability risks and opportunities, and measuring the effectiveness of code of conduct and risk management framework.
The 20 sectors covered were textiles, apparels and accessories, transport, media, diversified, pharmaceuticals, consumer durables, other financials, banks, utilities, oil and gas; capital goods, automobiles, construction materials, household & personal products, chemical & petrochemicals, food, beverages & tobacco, metals and mining, software and services, telecom services and general industrials.
