Back‘Infosys leads in ESG norms, Axis Bank best in transparency in disclosures’
Tata Consultancy Services topped the scores in Leadership in Employment Quality
PremiumInfosys has best environmental social and governance (ESG) practises while Axis Bank has better transparency in disclosures and reporting standards among Indian companies, according to ESGRisk.ai part of Acuité Group company. The ESG rating agency reviewed top 500 listed companies across 55 industries.
According to the review, Infosys Limited also stands out in overall ESG leadership and leadership in equal opportunities due to its diversity and inclusion based on age, gender, race, sexual orientation, disability, qualification, nationality and ethnicity of employees. Axis Bank scored the most on transparency in disclosures and reporting standards and social impact for its community services, product quality and safety, employee development and data privacy.
The overall transparency is where performance can be ascertained through disclosures out of the material indicators and is dependent on the publicly available information. It provides an edge to the company in comparison to not only the industry peers but also over other listed companies. The top listed companies have secured an overall transparency of 60%, out of which top 100 are the best performing companies with a transparency of 66% and the remaining companies have an average transparency of 58.5% and there is a scope for improvement in comparison to the top 100 companies, a company statement said.
ESGRisk.ai has felicitated companies that have achieved excellence in the sustainability space. The ESG winners presented in 21 categories were announced after research that included collecting and analysing disclosures, stock exchange releases, annual reports, news and controversies.
Sankar Chakraborti, Chairman, ESGRisk.ai and Group CEO, Acuité, said, “Not too long ago, ESG was an idea that was expected to take shape sometime in the not-so-near future. And now, ESG is not only here with us, it has reached a tipping point, courtesy the enterprise and vigour shown by these companies to make sustainability a way of businesses."
Hindustan Zinc Limited was declared Environment leader for initiatives in reducing carbon footprint, managing waste effectively, minimising air pollution and managing environmental impact. In GHG Emissions Reduction too, Hindustan Zinc Limited was an outright winner for excellent practices in reducing carbon footprint.
Tata Consultancy Services Limited, topped the scores in Leadership in Employment Quality. The company stood out for initiatives in fair compensation, flexible work schedules and promoting a positive work culture. Housing Development Finance Corporation Limited scored most in Employee Development for providing training, reskilling and upskilling opportunities and performance appraisals.
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