Objectives and functions of the board include reviewing the firm''s model for evaluation of ESG factors and advise changes, guide the firm for topics of research on various aspects of ESG and review international and domestic best practices in ESG, according to a press release.
Besides, the board would also suggest changes in existing disclosure practices, help and advise SES for suggestions to regulatory organisation for required changes, among others, it added.
The board''s chairperson will be Cyril Shroff from Cyril Amarchand Mangaldas.
Environment- and social-related incidents are source of not only financial risks but reputational risk as well and can be damaging for survival of business.
"ESG is a work in process, and given the nascent stage of ESG reporting and disclosure practices in India, we feel that effective steps are needed for closing the current gap between developed world and India," the firm said.
The board has been constituted in order to make use of collective wisdom, bring about synergy in effort and to provide a platform and create a think tank. PTI SRS HRS hrs
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI