ESG and the role of an internal auditor
Conversations and a focus on sustainability, which are typically grouped into ESG issues, are quickly evolving. It is clear that strong governance over ESG—along with the support and culture in an organisation to consider ESG issues—will help companies be socially responsible rather than just being regulatory compliant in the long run. To achieve ESG goals, an internal auditor is well-positioned to support a company and its management with objective assurance, insights, and advice on ESG matters.
Evolution of ESG in India
After the pandemic and with the emergence of new regulations in India, the adoption of ESG guidelines has evolved. Requirements of certain ESG parts were already captured under the 2009 Corporate Social Responsibility (CSR) guidelines. But a stronger focus has been built in and it is now a part of the law through the Business Responsibility and Sustainability Report (BRSR) in 2022. Today, more businesses are being introduced to multiple benefits of ESG, such as attracting talent, targeting future consumers, facilitating brand-enhancement and innovation.
