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Associated Press
15-05-2025
- Business
- Associated Press
IWBI Launches Tool Aligning WELL v2 to BRSR, Supercharging Indian Companies' Ability To Identify, Measure and Report on Social Sustainability Strategies
New practical resource is designed to help organizations explore how WELL's strategies for health, well-being and social impact align with India's Business Responsibility and Sustainability Reporting (BRSR) framework -- Strategies in WELL can contribute to 42% of BRSR indicators NEW YORK and DELHI, May 14, 2025 /3BL/ - The International WELL Building Institute (IWBI), the global authority for advancing healthy buildings, organizations and communities, announced today the launch of its WELL-BRSR Alignment Tool, a resource designed to facilitate a comprehensive understanding of the alignment between the WELL Building Standard (WELL v2) and the Business Responsibility and Sustainability Reporting (BRSR) framework, which was introduced by the Securities and Exchange Board of India (SEBI). This tool aims to demonstrate how WELL v2 can complement certain BRSR disclosure obligations, while fostering health, well-being and social sustainability across buildings, organizations and communities. Strategies in WELL v2 can contribute to approximately 42% of the BRSR indicators, including 44% of essential (mandatory) and 38% of leadership (voluntary) indicators, according to IWBI's analysis. In addition to highlighting extensive alignment, the tool offers companies a clear framework for leveraging WELL to help meet India's sustainability reporting requirements. 'India's sustainability journey is entering a new chapter—one where transparency, accountability and the well-being of people are taking center stage,' said IWBI President and CEO Rachel Hodgdon. 'We are proud to introduce the WELL-BRSR Alignment Tool to support the business community in India and demonstrate how WELL helps companies to advance their health and well-being strategies to align with corporate sustainability objectives and reporting requirements.' As sustainability reporting becomes increasingly central to corporate accountability in India, the BRSR framework highlights the need for organizations to demonstrate their impact on people and the planet. This tool supports that effort by illustrating how strategies within the WELL Standard can contribute to key BRSR disclosures—particularly those related to health, well-being and social impact. 'India is one of the fastest-growing markets for WELL adoption, with forward-looking organizations applying WELL strategies not only to individual buildings but across entire portfolios,' said Prateek Khanna, IWBI Chief Operating Officer. 'This approach reinforces enterprise-level leadership in social sustainability while supporting alignment with India's evolving regulatory expectations—backed by WELL's rigorous third-party verification and a consistent, people-first framework.' As BRSR continues to mature, companies in India are actively seeking structured frameworks to integrate social sustainability and employee well-being into their disclosures. BRSR places explicit emphasis on employee well-being as one of its nine core principles based on India's National Guidelines for Responsible Business Conduct (NGRBC). 'India has taken bold steps in advancing sustainability through regulations like BRSR,' said Minjia Yang, Vice President and Head of Sustainable Finance at IWBI. 'Based on IWBI's internal review, strategies in WELL v2 may contribute to five out of the nine BRSR principles, with the strongest alignment observed across socially focused areas such as employee well-being, human rights and stakeholder engagement. This reinforces the unique value WELL brings to organizations seeking to meet regulatory expectations while advancing health, equity and people-centered sustainability.' The WELL-BRSR Alignment Tool reflects IWBI's commitment to better understanding the interplay between the WELL Standard and global sustainability regulations. Increasingly, governments around the world are exploring ways to support social sustainability, such as India's BRSR framework, as well as in other international frameworks and organizational initiatives. As regulations and best practices continue to evolve globally, this tool not only aims to address alignment but also to provide insights for policy, advocacy and a holistic understanding of social sustainability to promote the thriving of our people and the planet. The WELL-BRSR Alignment Tool was developed in close collaboration with the India team of Ideaship Inc. 'In a way, WELL brings the 'how' to BRSR's 'why.' They operate like two interlocking gears in the same engine wherein BRSR sets the direction through structured transparency, and WELL powers the motion with actionable strategies,' said Ashish Pandya, Lead Consultant, Sustainable Spaces, ideaship Inc. 'While BRSR outlines the framework for human capital and well-being, WELL provides the roadmap to act on it. Together, they turn ESG from theory to experience. It is the difference between promising a great workplace and actually creating one people are proud to be part of.' To access the WELL v2 - BRSR alignment tool and learn more about its benefits, please visit the resource page. What our community is saying: 'With the launch of WELL-BRSR Alignment Tool, IWBI is enabling companies to elevate their ESG disclosures by integrating health and well-being metrics into respected ESG rating frameworks. This alignment strengthens transparency, drives performance on social indicators, and supports organizations in achieving higher ESG scores through credible, standard-based reporting.'— Shavi Chawla, Chief Ratings Officer, ESG Rating Provider - CFC Finlease 'IWBI's WELL-BRSR Alignment Tool is a game-changer for Indian companies navigating ESG transformation. At Growlity, we've seen first-hand how health and well-being metrics, when integrated with BRSR disclosures, can unlock deeper stakeholder value and regulatory preparedness. This strategic tool empowers the top 1000 listed companies to go beyond compliance and lead with purpose—turning ESG ambition into measurable outcomes.'— Dr. Nitin Dumasia, President and CEO, Growlity, Inc. About BRSRThe Business Responsibility and Sustainability Reporting (BRSR) framework, developed by the Securities and Exchange Board of India (SEBI), mandates sustainability disclosures for India's top 1,000 listed companies by market capitalization. Introduced as a voluntary framework in FY 2021–22 and made mandatory from FY 2022–23, BRSR represents one of the most comprehensive and regulated national sustainability reporting frameworks globally. Grounded in India's National Guidelines on Responsible Business Conduct (NGRBC), the BRSR framework covers nine principles that span environmental, social and governance topics. The framework is designed to drive transparency, accountability and long-term value creation across India's corporate sector. About WELLWELL v2 is the latest iteration of the WELL Building Standard, the world's premier building rating system that provides actionable strategies for health and well-being at the building, organizational and community levels. In addition to the WELL v2 - ESRS alignment tool, IWBI has also created WELL v2 alignment tools with the United Nations Sustainable Development Goals, GRESB, LEED, IRIS, GRI, S&P CSA. Today, more than 74,000 commercial and residential locations in 138 countries are using WELL, representing nearly 6 billion square feet of space. In addition, more than 180 companies in the Global 500 and Fortune 500 are using WELL to demonstrate health leadership and support their annual reporting. Increasingly, WELL is being factored in sustainable finance, included in at least 12 financial instruments to date. Seventy organizations across various industries around the world have incorporated WELL into one or more of their sustainable finance frameworks and reporting mechanisms. About the International WELL Building InstituteThe International WELL Building Institute (IWBI) is a public benefit corporation and the global authority for transforming health and well-being in buildings, organizations and communities. In pursuit of its public-health mission, IWBI mobilizes its community through the development and administration of the WELL Building Standard (WELL), WELL for residential, WELL Community Standard, its WELL ratings and management of the WELL AP credential. IWBI also translates research into practice, develops educational resources and advocates for policies that promote people-first places for everyone, everywhere. More information on WELL can be found here. International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL EP, WELL Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rated, WELL Performance Rated, WELL Equity Rated, WELL Equity, WELL Coworking Rated, WELL Residence, Works with WELL, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries. Media contact: [email protected] View original content here.
NDTV
14-05-2025
- Business
- NDTV
NDTV, TERI And Zenora Unveil Strategic ESG Certification For Business Leaders
New Delhi: In a strategic collaboration, NDTV, The Energy and Resources Institute (TERI), and Zenora have launched an innovative Executive ESG Certification Program designed to empower Indian business leaders to convert ESG from a compliance requirement into a strategic growth driver. This 13-week hybrid certification program - Strategic ESG for business sustainability and growth, commencing in July 2025, is tailored for CXOs, board members, senior executives, and ESG/CSR leaders. Combining online learning with a 2-day immersive campus experience, the program delivers practical tools, global frameworks, and actionable strategy roadmaps to guide organizations through their ESG transformation. "This isn't just a course - it's a leadership catalyst," emphasised Dr Shruti Sharma, Program Director and Associate Professor at TERI SAS. "We're equipping executives with the insights and methodologies to align ESG initiatives with value creation and competitive advantage." Through this partnership, NDTV will play a pivotal role in shaping India's ESG conversation, extending the program's reach across the nation's business landscape. NDTV has long been at the forefront of public interest campaigns, including Banega Swasth India, Clean Air India, and the India Sustainability Mission. "As climate challenges intensify and regulatory frameworks evolve, this initiative embeds ESG thinking at the core of business strategy," noted Dipankar Saharia, Senior Director at TERI. With the World Economic Forum identifying sustainability roles among the fastest-growing sectors globally, the timing couldn't be more opportune. "In India, frameworks like Business Responsibility and Sustainability Reporting (BRSR) are fundamentally changing corporate operations and disclosures," said Pankaj Chandra, CEO & Founder of Zenora. "Our mission is to make sustainability work for business growth." Program Highlights: Climate Risk Assessment and business impact analysis Materiality Assessment using global standards (GRI, SASB, WEF, SEBI-BRSR) ESG Framework Mastery: GRI, SASB, CDP, TCFD, BRSR, SDGs Net Zero Road mapping and integration strategies Boardroom-ready ESG implementation blueprints "This program translates global ESG frameworks into the Indian context while driving tangible transformation," added Dr. Amit Kumar Thakur, Associate Director- Social Transformation and CSR, TERI. "It's essential for professionals in strategy, sustainability, finance, operations, and compliance." Given overwhelming interest, TERI will host an introductory webinar on 17th May at 11:00 AM to detail this TERI-NDTV certification. Register here for the webinar: [ Webinar ] About the Partners: NDTV is a global news powerhouse, reaching millions across the globe through TV and digital platforms. With a diverse network that includes NDTV 24x7, NDTV India, NDTV World, NDTV Profit, NDTV Rajasthan, NDTV Madhya Pradesh-Chhattisgarh, and NDTV Marathi the brand continues to set the standard for trusted journalism. TERI (The Energy and Resources Institute) is India's leading think tank for sustainability, research, and policy. With over five decades of experience, TERI drives innovative solutions and thought leadership across energy, environment, and development sectors. Zenora is a ESG and sustainability consulting firm dedicated to helping Indian businesses. Working at the intersection of communication, capability-building, and ESG advisory, Zenora aims to accelerate India's sustainability transition.
Mint
03-05-2025
- Business
- Mint
Sebi eases ESG rating rules. But experts warn of short-term risk
MUMBAI : The market regulator has eased norms for ESG rating providers (ERPs), aligning the framework with that for credit ratings. The changes, effective immediately, aim to improve rating transparency, reduce conflicts of interest, and enhance market confidence, according to a circular issued by the Securities and Exchange Board of India (Sebi) on 29 April. Now, ERPs operating under the subscriber-pays model can withdraw ratings if there are no active subscribers or if a company fails to file its Business Responsibility and Sustainability Reporting (BRSR) report, according to the circular. For issuer-pays models, ratings can be withdrawn only after a minimum period and with bondholder consent in the case of debt securities. While subscribers like banks, insurance companies, or even the rated company itself pay to access the ratings under the subscriber-pay model, the company being rated pays under the issuer-pays model. 'Conditional withdrawal could create short-term volatility in ESG risk perception, especially when driven by administrative lapses such as missing BRSR filings," said Shailesh Tyagi, partner, sustainability and climate change, Deloitte India. However, he said, clear and transparent documentation of withdrawal rationale could help mitigate long-term reputational risk. Moin Ladha, partner at Khaitan & Co., said ratings retracted or revised unexpectedly could lead to 'fluctuating investor confidence, particularly if the conditions for withdrawal are not clearly defined or consistently applied". The Sebi circular also revamped disclosure rules for ERPs. Subscriber-pays ERPs are no longer required to publish detailed rating rationales publicly, easing their compliance burden. However, they must disclose assigned ESG ratings in a standardised, year-wise format, including details of the rated entity, sector, and the date of rating. Additionally, stock exchanges must now host ESG ratings on dedicated sections of company and debt security pages to ensure better investor visibility. Ladha said the increased compliance burden from simultaneous disclosures and reliance on public data may raise operational costs. 'ERPs may need to explore hybrid or issuer-pays models to maintain profitability and competitiveness. These changes aim at improving rating credibility, but they could challenge the subscriber-pays model's viability unless ERPs adapt effectively," he said. However, according to Ketan Mukhija, senior partner at Burgeon Law, mandatory disclosures on stock exchanges could enhance market transparency and aid more efficient price discovery for ESG-linked instruments. Experts also expect the circular to reshape ERP business models, pushing firms to reevaluate revenue strategies and compliance structures. Ladha said stricter transparency and conflict-of-interest norms could undermine the viability of the subscriber-pays model unless ERPs adapt. According to Tyagi, while these changes reduce public-facing obligations for subscriber-based ERPs, they may increase internal coordination and systemisation costs. Issuer-pays ERPs, meanwhile, must continue with full public disclosures and prepare for enhanced governance and audit requirements. Sebi granted Category II ERPs—a classification typically covering newer or smaller firms—a two-year extension before compliance with mandatory internal audits and governance committee formations kicks in. The relaxation of governance norms for Category-II ERPs 'may offer some relief, but smaller players may still struggle with capacity and compliance burdens", Mukhija said. The regulator has also expanded the pool of eligible auditors to include cost accountants and professionals with information systems security credentials. Despite initial challenges, experts are hopeful that the regulatory changes will enhance ESG rating credibility and support capital allocation into ESG-linked instruments. 'Improved visibility and transparency of ESG scores on stock exchanges will aid efficient price discovery and bolster investor confidence," said Jyoti Prakash Gadia, managing director at financial advisory firm Resurgent India. 'The changes are pragmatic, not disruptive, and will contribute to the long-term credibility of the ecosystem." The long-term impact will likely foster broader market acceptance and increased use of ESG ratings in investment decisions, experts said. Tyagi believes the reforms will bring India's ESG framework closer to global benchmarks, facilitating greater institutional interest. 'For corporates, the clarity in rating assignment, withdrawal, and disclosure norms means better planning and predictability in ESG engagement."
