Page 347 - CA Final Audit Titanium Full Book. (With Cover Pages)

CA Ravi Taori

Emerging Areas Sustainable Development Goals
(SDG) & Environment, Social & Governance (ESG)
18
Assurance

Case Study – CA Ajoy
1. Definition
Sustainable Development: Meeting present needs without compromising future generations' ability.
Sustainable Development Goals (SDGs): Universal actions to end poverty, protect the planet, and enhance
lives globally.

2. Cultural Background
Philosophical Roots: Indian ancient texts emphasizing earth as a nurturing entity.
National Endeavour: India's commitment to global welfare and sustainable development.

3. Corporate Role
Private Sector Contribution: Corporates aiding in achieving SDGs through innovative solutions.
Market for Innovation: The private sector represents a large market for innovative solutions to global issues.

4. Reporting Frameworks
Evolution: Development and adoption of sustainability reporting frameworks globally.
ESG Disclosures: Mandatory disclosures in many countries focusing on environmental, social, and governance
aspects.

5. ESG Pillars
Three Pillars: Environmental, social, and governance.
Principles and KPIs: Companies required to disclose sustainability performance based on 9 principles and key
performance indicators.

6. BRSR Reports
Mandatory Reports: Certain listed companies must prepare and disclose Business Responsibility and
Sustainability Reports (BRSR).
Ethical Business: Disclosures include anti-bribery policies and mechanisms to handle corruption complaints.

7. Conclusion
Progress: Viewing the reporting framework as a significant advancement in promoting sustainable and ethical
business practices.

(CNO SDG.020) Sustainable Development defined in this report is as follows:
Definition of Sustainable Development: Sustainable development is development that strives to meet the
needs of developing countries while aiming for a more sustainable world. It addresses the needs of the present
without compromising the ability of current and future generations to sustain their lifestyles.
Application in Business: In the corporate world, sustainable development principles can be integrated into
policies, guided by the three pillars of sustainability.

Three Pillars of Sustainability (ESG):
A. Environment (E): This pillar focuses on ecological balance and conservation.

www.auditguru.in 18.1