COP 28: World Economic Forum’s Global Risk Report 2023 lists failure to mitigate climate change and failure to take adaptation measures as the top 1 and 2 risks in their 10-year risk view
At a time when green washing is rampant throughout the world, mandatory ESG disclosure and third-party assurance of disclosures are the primary weapons that regulators deploy against green washing
The biggest impact of this ban will be the collateral damage of the voluntary carbon market that thrives on trading emission offsets and caters to businesses wanting to claim carbon neutrality by emission offsetting
While SEBI’s intention is to bring reliability to ESG disclosures and ratings and reduce cost of compliance in defining BRSR Core, but BRSR Core may not fully deliver on these goals