International Scenario

Business Responsibility and Sustainability Reporting (BRSR):

Governing Body: SEBI


Global Reporting Initiatives (GRI)

The GRI Standards empower organizations of any size, whether public or private, to comprehensively comprehend and communicate their effects on the economy, environment, and society in a manner that is both comparable and credible. This process enhances transparency, allowing for a clearer understanding of an organization’s role in contributing to sustainable development.


Governing Body: GSSB


SASB Standards:

Governing Body: ISSB

The International Sustainability Standards Board (ISSB) under the IFRS Foundation has assumed responsibility for the SASB Standards in August 2022. The ISSB is dedicated to upholding, improving, and evolving the SASB Standards, encouraging preparers and investors to continue their use. Acknowledging the significance of existing frameworks and responding to market demand for cohesion, the ISSB consolidates the efforts of market-led, investor-focused reporting initiatives, which include:


Task Force on Climate-related Financial Disclosures (TCFD)

The Task Force on Climate-related Financial Disclosures (TCFD) has issued recommendations specifically tailored to guide companies in offering enhanced information, aiming to foster market transparency and facilitate more informed capital allocation. These recommendations focus on four core elements:

  1. Governance
  2. Strategy
  3. Risk Management
  4. Metrics and Targets

Governing Body: FSB

The Financial Stability Board (FSB) created the Task Force on Climate-related Financial Disclosures (TCFD) in 2015 to improve and increase reporting of climate-related financial information. The FSB promotes international financial stability; it does so by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory and other financial sector policies. It fosters a level playing field by encouraging coherent implementation of these policies across sectors and jurisdictions.


IFC Performance Standards

The Performance Standards are specifically oriented towards clients. They serve as a comprehensive guide, offering direction on the identification of risks and impacts associated with various projects. The primary objective is to assist clients in steering their operations in a sustainable manner by facilitating the avoidance, mitigation, and effective management of risks and impacts.

These Performance Standards encompass a range of aspects, including stakeholder engagement and the disclosure obligations of the client concerning project-level activities.

Governing Body: IFC

The International Finance Corporation (IFC) Performance Standards were developed by the International Finance Corporation itself, which is a member of the World Bank Group. The IFC is a global development institution that provides financial and advisory services to stimulate private sector investment in developing countries. The Performance Standards were established as a framework to guide the environmental and social risk management processes associated with the projects financed by the IFC.