(Image source from: business-standard.com)

“A Non profit” has released a report on Monday which stated that India has ranked 5th among the countries that have been surveyed for the corporate commitments to the science-based targets.

The report says that betterment in the disclosure of climate change risk from the Indian companies are being demanded by the investors which in turn spurred better disclosure from India Inc.

The activities based on the reduction of carbon has been examined by the Carbon Disclosure Project (CDP) India annual report, which showed 58 Indian companies of the 59 firms that have been surveyed between the years 2018 and 2019, have board-level oversight of the issues related to climate which seems like 98 percent firms have climate- related issues.

The report has said that committees and members have been designated to almost all the boards of top Indian companies, in order to address the climatic risks as it has been ensured by the increasing climate activism and the climate- conscious investors which is a growing band.

The report shows India being the fifth country and with maximum number of companies being committed to SBT, it has been said to be the first country in developing the economy.

The Director CDP India, Damandeep Singh has said that the companies are being engaged by the scores of the investors in order to disclose the risks in the climate and help them in doing better.

It has been found that the environmental data has been disclosed by over 6,900 companies with over 55 per cent of global market capitalisation, through CDP in 2018.

The list consisted of the US and Japan topping the list with 135 and 83 companies, the country that ranked third was UK with 78 countries and the fourth place was bagged by France with 51 companies.

The report says that, 38 companies have been committed to SBT by December 2019 which shows a significant growth from the year 2018 being at 25 countries.

According to the report, the climate concerns in performance evaluation of key personal have been integrated in India by the top corporate managements where in incentives have been provided for meeting the targets.

The researchers have said that around 57 of the 59 responding companies in 2019 have stated that they have a process for assessing the risks

By Shrithika Kushangi