Sustainability & Business Responsibility Reporting (BRSR) Guide PDF

Background Material on Sustainability & Business Responsibility & Sustainability Reporting(BRSR) (Revised Edition 2024) Issued by Sustainability Reporting Standards Board The Institute of Chartered Accountants of India (Set up by an Act of Parliament) New Delhi...

Background Material on Sustainability & Business Responsibility & Sustainability Reporting(BRSR) (Revised Edition 2024) Issued by Sustainability Reporting Standards Board The Institute of Chartered Accountants of India (Set up by an Act of Parliament) New Delhi  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) (Revised Edition 2024) Issued by Sustainability Reporting Standards Board The Institute of Chartered Accountants of India (Set up by an Act of Parliament) New Delhi Disclaimer: “Please note that this publication is intended solely for exam preparation purposes and should not be circulated or distributed.”  FOREWORD In recent years, global stakeholders have been demanding greater corporate accountability for social and environmental impacts. Pressing issues like climate change, gender equality, and environmental degradation have further heightened awareness and activism. In response, Sustainability Reporting has emerged as a vital tool, encompassing the disclosure of an entity's non-financial performance in areas like the Environment, Social, and Governance (ESG). The efficacy of Sustainability Reporting hinges on the quality of the information and trust in the reporting framework. India has been an early adopter of sustainability reporting for listed entities. In 2012, the Business Responsibility Report (BRR) as released by the Securities and Exchange Board of India (SEBI) mandated listed entities to disclose their ESG performance. Expanding on this foundation, in May 2021, the SEBI introduced a transformative reporting requirement – the Business Responsibility and Sustainability Report (BRSR). The BRSR represents a significant improvement from the BRR, aiming to standardize disclosures and incorporate quantitative and qualitative ESG parameters. Notably, SEBI has updated the BRSR format to include the BRSR Core's new Key Performance Indicators (KPIs). Starting from the financial year 2022-23, SEBI mandated the top 1,000 listed entities (by market capitalization) to disclose in line with the updated BRSR format. Additionally, the SEBI introduced the requirement of Assurance on Sustainability Reporting. This marked a significant stride towards corporate transparency and accountability. The Sustainability Reporting Standards Board (SRSB) of the Institute of Chartered Accountants of India (ICAI) has been instrumental in enhancing the sustainability reporting ecosystem. Their dedication culminated in the Revised "Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR)," encapsulating the latest SEBI Circular's requirements and offering crucial guidance on such reporting. I extend my heartfelt appreciation to CA. Sripriya Kumar, Chairperson, CA. (Dr.) Anuj Goyal, Vice-Chairman, along with all other members of the Sustainability Reporting Standards Board for their unwavering support and contributions in revision of Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR). I am sure that this publication will prove invaluable to our members and stakeholders, accelerating the adoption of sustainable practices and unlocking new opportunities. With best regards, 15th April, 2024 CA. Ranjeet Kumar Agarwal Delhi President, ICAI  PREFACE In an era marked by escalating social and environmental concerns, stakeholders are increasingly eager to gain insight into how organizations approach sustainability issues and their potential for value creation. This growing demand from stakeholders underscores the critical responsibility of organizations to prepare sustainability reports. Sustainability reporting not only sheds light on a business’s competitive positioning within the evolving sustainability landscape but also offers a comprehensive overview of initiatives related to Environmental, Social, and Governance (ESG) parameters. Such reporting offers a multitude of advantages, including highlighting an organization’s culture, enhancing business performance across ESG dimensions, guiding strategy formulation, establishing accountability mechanisms, engaging stakeholders, and ensuring transparency. Globally, there are significant developments underway in the realm of Sustainability Reporting, and India’s regulatory landscape has been quick to adapt to international sustainability trends. The Securities and Exchange Board of India (SEBI) has introduced a transformative set of requirements for sustainability reporting by listed entities, known as the Business Responsibility and Sustainability Report (BRSR), replacing the existing Business Responsibility Report (BRR). The primary objective of the BRSR is to standardize and enhance the disclosure of Environmental, Social, and Governance (ESG) parameters. By doing so, it aims to facilitate comparability across companies, sectors, and over time. These disclosures will go beyond the traditional focus on financials and encourage organizations to engage more deeply with their stakeholders by providing comprehensive insights into their social and environmental impacts. SEBI has also been proactive in updating the BRSR format to incorporate the new key performance indicators (KPIs) defined by the BRSR Core, ensuring that the reporting framework remains relevant and aligned with evolving sustainability standards. Starting from the financial year 2022-23, the top 1,000 listed entities (by market capitalization) has been mandated to make disclosures in accordance with the updated BRSR format. Further, assurance to BRSR Core mandated to top 1000 listed entities (by market capitalization) from financial year 2023-24 to 2026-27 on glide path method. India is the first country to adopt the assurance on sustainability reporting. This transition signifies a pivotal moment in India’s commitment to sustainability reporting and underscores the nation’s dedication to responsible corporate practices. In its unwavering commitment to build the capacity and enrich the knowledge base of its members and stakeholders, the Sustainability Reporting Standards Board of ICAI has revised the certificate course on BRSR and is releasing the revised edition of the “Background Material on Business Responsibility and Sustainability Reporting.” This updated edition aligns with the SEBI circular and provides a comprehensive mapping with the Global Reporting Initiative (GRI). The primary objective is to empower Chartered Accountants with the latest insights into the sustainability reporting domain and equip them with a profound understanding of various dimensions of sustainability reporting, including global trends in corporate sustainability reporting. We wish to acknowledge the visionary support of CA. Ranjeet Kumar Agarwal, President, ICAI, and CA. Charanjot Singh Nanda, Vice- President, ICAI, for their unwavering commitment to the various initiatives of the Board. We extend our heartfelt appreciation to the contributors to this background material CA. Harsha Ramnani, CA. Vishal Bhavsar, CA. Raj Mullick, CA. Alok Kumar Garg, CA. Najid M iii Narmawala, CA. Aanchal Mathur, CA. S. Badri Narayanan, CA. Prakhar Gupta, Dr. (CMA) Nandita Mishra, CA. Fenil Shah, CA. Heman Sabharwal and CA. Jyoti Singh. We appreciate the efforts of CA. Shweta Goel, Secretary, SRSB and staff of SRSB CA. Rangoli Sharma, Executive Officer, CA. Manish Goyal, CA. Professional, Dr. Chindu Chandran, Sustainability Professional, Mr. Mayank Singhal, DEO. for finalising this publication. We are confident that this background material will prove to be an invaluable resource for our members and stakeholders, empowering them to develop the skills and competencies necessary to contribute to stronger and more sustainable organizations. CA. Sripriya Kumar Chairperson Sustainability Reporting Standards Board, ICAI CA. (Dr.) Anuj Goyal Vice-Chairman Sustainability Reporting Standards Board, ICAI iv  Contents Sr. No. Particulars Sr. No. MODULE ONE: INTRODUCTION AND IMPORTANCE OF SUSTAINABILITY 1.1 Sustainability in Business 2 Why the Sustainability Dialogue 2 Benefits that Accrue 3 1.2. Global Topics in the context of Sustainable Development 3-5 1.3 United Nations Sustainable Development Goals 2030 5 1.3.1 Background and evolution of SDG’s 5-6 1.3.2 The 5 pillars of Sustainable Development Goals (SDGs) 6-7 How the Pillars connect to the Goals 7-10 1.3.3 The 17 SDG and Targets 10-37 1.4 Need for Sustainability Reporting 37 1.4.1. Sustainability and ESG Reporting 37 Sustainability Reporting 37 Need for Sustainability Reporting 37-38 International Sustainability Standards Board 38 1.4.2 Purpose and objective of Sustainable reporting 39-40 1.5 National Guidelines on Responsible Business Conduct (NGRBC) 41 1.5.1. Background to NGBRC 41 1.5.2. Structure 42 1.5.3. Content of NGRBC – 9 Principles & Core Elements 42-51 MODULE TWO: OVERVIEW & GUIDANCE ON BRSR DISCLOSURES 2.1 Evolution of ESG reporting in India and BRR 53-55 2.2. The need for shift from BRR to BRSR 55-56 2.3 Limitations of BRR 56 2.4 Key Highlights of BRSR 57-58 2.5 How is BRSR different from BRR? 58 2.6 Overview of BRSR Comprehensive, Lite and Core Reporting 58-61 2.7 Disclosure Requirements under Business Responsibility and 61 Sustainability Reporting 2.7.1 Reporting requirements regarding sustainability reporting 61 2.7.2 Requirement 61 v Sr. No. Particulars Sr. No. 2.7.3 General Guidance for Reporting 61-62 2.7.4 Structure and format of BRSR 62-63 a. BRSR - Section A- General Disclosure 64 [PART -I] Details of the listed entity: - 64-65 [PART – 2] Products/Services: - 65-66 [PART – 3] Operations: - 66-68 [PART – 4] Employees: - 68-71 [PART – 5] Holding, Subsidiary and Associate Companies 71-72 (including joint ventures): - [PART – 6] CSR Details: - 73 [PART – 7] Transparency and Disclosures Compliances: - 74-76 b. BRSR - Section B: Management and Process Disclosures 76-81 c. BRSR - Section C: Principle wise performance disclosure 81-82 PRINCIPLE- 1 (Reporting of Good Governance) 82-93 PRINCIPLE -2 (Reporting of Environmentally Sustainable 93-103 Business) PRINCIPLE -3 (Reporting of Well-being of Human resource) 103-119 PRINCIPLE- 4 (Reporting on Interest of Stakeholders) 119-121 PRINCIPLE- 5 (Reporting of Human Rights) 121-128 PRINCIPLE 6 (Reporting of Efforts for Environment protection 128-142 and restoration) PRINCIPLE 7 (Reporting of Good Presence of Business in society) 142-144 PRINCIPLE -8 (Reporting of Equitable Development) 144-148 PRINCIPLE- 9 (Reporting of Service to Customers) 148-153 MODULE THREE: DEEP DIVE IN GOVERNANCE ISSUES AND RISK MANAGEMENT 3.1 ESG Transforming the Corporate Landscape 155-159 3.2 Key trends in the transformation of ESG reporting expectations 159-160 3.3 Focus areas in the transformation of ESG reporting expectations 160-161 3.4 Board of Directors and BRSR Reporting 161-162 3.5 BoD Composition and Skill Sets 162-164 3.6 The specific role of the Board in BRSR 164-166 3.7 How BRSR aligns with the broader corporate governance framework 166-167 3.8 Specialized Board Committees in Effective implementation of ESG 167-168 vi Sr. No. Particulars Sr. No. 3.9 Anti Bribery and Anti-Corruption (ABAC) 168-170 3.10 Ethics and Code of Good Corporate Behaviour 170-171 3.11 ESG governance and way forward 171 3.11.1 Challenges in ESG Governance and Reporting 171-172 3.11.2 Strategic Path Forward for ESG Governance 172-173 3.12 Risk Management related to Sustainability 173-174 3.13 Identification and Measurement of Environmental Risks in ESG 174 3.13.1 Identifying Environmental Risks: 174-175 3.13.2 Tools in Measuring and Managing Environmental Risks 175 3.14 Identification and Measurement of Social and Cultural Risks in ESG 175 3.14.1 What are Social and Cultural Risks? 176 3.14.2 Identifying and Measuring Social and Cultural Risks: 176 3.14.3 Challenges and Considerations: 176-177 3.15 Identification and Measurement of Governance Risk in ESG 177-178 3.16 Tools and Frameworks for Risk Assessment 178-180 3.17 Specific Management Actions in ESG risk management 180-182 3.18 Future Trends in ESG Risk Management 182-183 MODULE FOUR: BEST PRACTICES, ESG DATA MANAGEMENT & SRMM 4.1 Best Practices for sustainability reporting 185 4.1.1. NSE Guidance 185 4.1.2 NYSE Guidance 185-188 4.2 Highlights of Best Industry Practices from Indian Companies 188-189 4.3 Criticality of ESG Data 189-190 4.4 ESG related Data 191 4.4.1 Background 191 4.4.2 Purpose 191 4.4.3 Challenges 191 4.4.4 Benefits 191 4.5 ESG Data Challenges 192 4.5.1 General Challenges 192 4.5.2 Environment Data Challenges 192 4.5.3 Social Data Challenges 193 4.5.4 Governance Data Challenges 193 vii Sr. No. Particulars Sr. No. 4.6 ESG Data Management Process 193-195 4.6. Materiality Assessment 195 4.7. Sources of BRSR Data 196-198 4.8 Sustainability Reporting Maturity Model (SRMM) 199 4.8.1 Understanding SRMM: 199-201 4.8.2 Advantages of SRMM: 201 4.8.3 How to Use SRMM 201 Case Study 1 201-202 Case Study 2 202-203 4.9 Some BRSR Reports for 2022-23 203-204 MODULE FIVE: BRSR vis-à-vis GLOBAL FRAMEWORK 5.1 Global Trends in Corporate Sustainability Reporting 205 5.1.1 Evolution of Corporate Sustainability Reporting 205 5.1.2. Why Sustainability Reporting Matters 206-207 5.1.3 Key Environmental Frameworks for Sustainable Practices 207 5.2 Global Emerging Trends in Sustainability Reporting 208-209 5.3 Global Reporting Initiative (GRI) 209-212 5.4 Sustainability Accounting Standards Board (SASB) 212-213 5.5 International Integrated Reporting Council (IIRC) 214 5.6 Task Force on Climate-related Financial Disclosures Framework 215 (TCFD) 5.6.1 Introduction: 215 5.6.2 Establishment and Evolution: 215 5.6.3 Growing Regulatory Recognition: 215 5.6.4 Categories of Climate-related Risks: 215 5.6.5 TCFD Recommendations: 216 5.7 Constitution of International Sustainability Standards Board (ISSB) 216-217 - IFRS Foundation 5.7.1 IFRS S1 General Requirements for Disclosure of Sustainability- 217-218 related Financial Information 5.7.2 IFRS S2 Climate-related Disclosures 218-219 5.8 European Sustainability Reporting Standards (ESRS) by CSRD 220 5.8.1 What Does it Cover? 220-221 5.8.2 Key Features Across the ESRS Topics 221-222 viii Sr. No. Particulars Sr. No. 5.9 U.S. Securities and Exchange Commission Disclosures (Proposed) 222 Rulemaking 222 5.10 Carbon Disclosure Project (CDP) 222-223 5.11 Dow Jones Sustainability Index (DJSI) 223 MODULE SIX: MATERIALITY ASSESSMENT 6.1 What Is Materiality in the ESG Context 225-226 6.2 The Process and Methodologies of ESG Materiality Assessment 226 a. Define purpose and scope 226 b. Specify potential material topics 226-227 c. Identify stakeholders 227 d. Collect and analyze insights 227 e. Prioritize material topics 227-228 f. Integrate insights into ESG strategy 228 6.3 Mapping and Presenting a Materiality Assessment 228-229 6.4 Integration of Materiality into Business Strategy 229-231 6.5 Double Materiality 231-232 6.6 Limitations 233-234 6.6 Future Trends 234-235 MODULE SEVEN: ASSURANCE ASPECTS IN INDIAN CONTEXT 7.1 Assurance in the context of Sustainability Reporting? 236-237 7.2 Voluntary and Mandatory “Assurance” in Indian context? 237 7.3 Applicable Standards for Sustainability assurance 237-239 7.4 Types of Assurance 239-240 7.5 Approach to Assurance engagements 241-242 7.6 Ethics and Independence requirements 242-244 Annexure I - Format of BRSR Core 245-255 Annexure II - FAQs issued by SEBI on BRSR Core assurance 256-257 MODULE EIGHT: SOCIAL STOCK EXCHANGE AND SOCIAL AUDIT STANDARDS 8.1 Social Stock Exchange 258 8.1.1 The concept of Social Stock Exchange 258-259 8.1.2 Traditional Stock Exchange and the Social Stock Exchange 259 8.1.3 India’s Social Stock Exchange 259-260 8.1.4 Eligibility conditions for being identified as a Social Enterprise 260-262 ix Sr. No. Particulars Sr. No. 8.1.5 Eligibility criterion of NPO for registration on Social Stock Exchange: 262 8.1.6 *Stakeholders of Social Stock Exchange 262-263 8.1.7 Financing Instruments for NPOs 263 8.1.8 Financing Instruments -For Profit Social Enterprise 264 8.1.9 *Registration process on Social Stock Exchanges 264-266 8.1.10 Zero Coupon Zero Principal (ZCZP) Instruments 266-269 8.2 Social Audit Standards 269 8.2.1 Concept of Social Audit Standards 269-270 8.2.2 Scope of Social Audit Standards (SASs) 270 8.2.3 Compliance with Social Audit Standards (SASs) 270-271 8.2.4 List of Social Audit Standards (SASs) 271-275 8.2.5 Process of Undertaking Social Audit as per Standards (SASs) 275-277 8.3 Social Audit Framework 277 8.3.1 Scope of Social Audit Framework 277 8.3.2 Elements of a Social Audit Engagement 278-279 8.3.3 Format of Social Audit Report: 279-280 MODULE NINE: SUSTAINABLE FINANCE, GREEN BONDS AND CARBON TRADING 9.1 Sustainable Finance 281-284 9.2. Green Bonds 284-288 9.3. Blue Bond 288-289 9.4. Evolution of Carbon Trading 290-291 9.5. Carbon Credits and Carbon Offsets 291-292 9.6. Carbon Markets 292-293 9.7. Carbon Credit Trading Scheme, 2023 293-294 9.8 Green Credit Rules, 2023 295-296 Additional Sources of Reference Used: 297-299 x  MODULE ONE: INTRODUCTION AND IMPORTANCE OF SUSTAINABILITY This module of the background material prepared for the Certificate Course on Sustainability and BRSR lays the groundwork for understanding the crucial role of sustainability in today’s business landscape. In this module, we attempt to gain understanding of the concepts of sustainability, examining its significance not just for the planet but also for businesses which inhabit an increasingly resource-constrained and interconnected world. Key Elements covered in this module Understanding Sustainability in Business: Demystifying the term “sustainability” and its practical implications for companies operating across various sectors. UN Sustainable Development Goals 2030: Delving into the framework set by the UN, conceptual understanding of the 17 Sustainable Development Goals (SDGs) and their relevance to business practices. Sustainability Accounting & Reporting: Unveiling the concept and importance of integrating sustainability considerations into a company’s financial reporting, transparency, and stakeholder communication. Need for Sustainable Reporting: Examining the driving forces behind sustainable reporting, including regulatory requirements, investor expectations, and growing public awareness of environmental and social issues. National Guidelines on Responsible Business Conduct (NGRBC): Diving into the Indian context, we analyze the NGRBC guidelines issued in 2018 and their practical implications for businesses operating in the country. SDGs and NGRBC Linkage: Establishing a clear connection between the UN SDGs and the NGRBC framework, offering businesses a roadmap for aligning their sustainability efforts with national and international aspirations. Module 1 aims to equip you with: A comprehensive understanding of the concept and importance of sustainability for businesses. Insights into the UN SDGs and their applicability to your business operations. Knowledge of the need for and benefits of sustainable reporting practices. A clear understanding of the NGRBC guidelines and their alignment with the SDGs. Awareness of the evolving responsibilities of company directors in the context of sustainability. 1  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) By completing this module, the reader will be well-positioned to embark on a deeper exploration of how to integrate sustainability into business strategy and operations, contributing to a more responsible and resilient future for an organization and the planet. 1.1 Sustainability in Business Why the Sustainability Dialogue Sustainable development requires an integrated approach that takes into consideration environmental concerns along with economic development. In 1987, the United Nations Brundtland Commission defined sustainability as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” Today, there are almost 140 developing countries in the world seeking ways of meeting their development needs, but with the increasing threat of climate change, concrete efforts must be made to ensure development today does not negatively affect future generations. Sustainability in business refers to a company’s strategy and actions to reduce adverse environmental and social impacts resulting from business operations in a particular market. An organization’s sustainability practices are typically analyzed against environmental, social and governance (ESG) metrics. Sustainability in business has evolved from a mere idea discussed in meetings to a significant and transformative change in how companies operate. It is no longer exclusive to those who deeply care about the environment; it has become a crucial aspect of responsible business practices. Companies are thinking about how they operate to produce goods and services, what they do with waste they generate, and how they treat their employees. Companies are striving to strike a balance between profitability and environmental and social responsibility. Sustainability is not just a feel-good theme. It is about the imperative of surviving in a world facing climate change, running out of resources, and social problems. Various groups are joining the call for sustainable practices. Consumers are choosing brands that care about the environment. Investors are looking closely at how companies act responsibly before giving them money. Governments are making rules that reward good behavior and punish bad environmental actions. Employees, too, desire to work for companies that align with their values and contribute to a better future. But being sustainable is more than just adding a “green” label to a company. It involves a complete overhaul of how a business operates, ensuring that every aspect aligns with the principles of environmental responsibility, fairness to people, and economic viability. This change isn’t just talk; it needs real action. It means companies must be brave enough to move away from just making quick profits and instead focus on long-term success. It’s about shifting from caring only about shareholders to thinking about the well-being of everyone. It also means encouraging a culture of innovation, where environmental challenges are seen as opportunities to come up with new and better ways of doing things. 2  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Benefits that Accrue The good news is that there are real benefits to making this change. Embracing sustainability can foster customer loyalty, attract, and retain top talent, secure funding, and mitigate risks. It can also open new markets, drive innovation, and help communities. Ultimately, it can redefine why businesses exist, turning them from just making money to taking care of the Earth and its people. Achieving this sustainable future won’t be an easy task. It needs teamwork, openness, and learning from past mistakes. It means challenging old ways of doing things and dealing with the difficulties of global cooperation. But the beauty of this effort lies in its ability to bring different voices together for a shared goal, creating a song of hope and strength that lasts for generations. Sustainability in business is not just a passing trend or a fashionable idea. It’s a crucial part of creating a better future for our planet and everyone on it. It’s a call for everyone—business leaders, investors, and consumers—to join in and make a difference. Let’s unite, blend our diverse melodies, and create an enduring symphony of sustainability for future generations. 1.2. Global Topics in the context of Sustainable Development Sustainable development has seen significant global developments over the years, driven by growing recognition of environmental challenges, social inequality, and economic disparities. Some key trends and developments include: a. International Agreements: The adoption of landmark agreements such as the Paris Agreement on climate change and the United Nations Sustainable Development Goals (SDGs) has provided a framework for global action. These agreements set ambitious targets for addressing climate change, reducing poverty, promoting equality, and protecting ecosystems. 3 Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) b. Corporate Sustainability: Many companies are adopting sustainability strategies as part of their business models, recognizing the importance of environmental stewardship, social responsibility, and good governance. Corporate sustainability initiatives encompass areas such as carbon footprint reduction, supply chain transparency, ethical sourcing, and diversity and inclusion efforts. c. Social Equity: There’s a growing emphasis on social equity and inclusion within sustainable development frameworks. Efforts to reduce poverty, improve access to education and healthcare, empower marginalized communities, and promote gender equality are integral to achieving sustainable development outcomes. d. Renewable Energy: There has been remarkable growth and emphasis on renewable energy sources such as solar, wind, and hydro power. Technological advancements and declining costs have made renewables increasingly competitive with fossil fuels, contributing to efforts to reduce greenhouse gas emissions and combat climate change. e. Green Finance and Sustainable Investment: The financial sector is increasingly recognizing the importance of integrating environmental, social, and governance (ESG) factors into investment decisions. Green bonds, sustainability-linked loans, impact investing, and ESG screening are gaining momentum as investors seek to align their portfolios with sustainable development goals while generating positive financial returns. f. Local Action and Grassroots Movements: Grassroots movements, community- based initiatives, and local governments are playing an increasingly important role in driving sustainable development at the grassroots level. From sustainable urban planning and community gardens to climate resilience projects and environmental education programs, local action is vital for achieving global sustainability goals. g. Nature-Based Solutions: Nature-based solutions involve harnessing the power of ecosystems to address environmental challenges, such as carbon sequestration, water management, and biodiversity conservation. Examples include reforestation projects, green infrastructure, sustainable agriculture practices, and coastal restoration initiatives. h. Regenerative Agriculture: Regenerative agriculture goes beyond sustainable farming practices to restore and enhance ecosystem health, soil fertility, and biodiversity. Techniques such as agroforestry, cover cropping, rotational grazing, and no-till farming help sequester carbon, improve water retention, and promote biodiversity while increasing agricultural productivity and resilience. i. Circular Design and Manufacturing: The circular economy approach aims to minimize waste and maximize resource efficiency by designing products for durability, reuse, and recycling. Emerging trends in circular design and manufacturing include product-as-a-service models, remanufacturing and refurbishment programs, and the adoption of biomimicry principles to create closed-loop systems inspired by nature. j. Smart Cities and Sustainable Urbanization: As urban populations continue to grow, there’s a need for smarter, more sustainable cities that prioritize energy efficiency, public transportation, green spaces, and affordable housing. Emerging technologies such as Internet of Things (IoT), big data analytics, and renewable energy integration are being leveraged to create more livable, resilient, and inclusive urban environments. 4  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) k. Digitalization for Sustainability: Digital technologies such as artificial intelligence, blockchain, and the Internet of Things (IoT) are being harnessed to optimize resource management, monitor environmental performance, and facilitate collaboration for sustainability. From precision agriculture and smart energy grids to supply chain transparency and decentralized renewable energy systems, digitalization offers innovative solutions to complex sustainability challenges. These emerging trends and areas in sustainability reflect a growing recognition of the need for holistic, systems-based approaches to address interconnected environmental, social, and economic issues. By embracing innovation, collaboration, and long-term thinking, stakeholders can work together to build a more sustainable and resilient future for generations to come. 1.3 United Nations Sustainable Development Goals 2030 1.3.1. Background and evolution of SDG’s The United Nations developed the Sustainable Development Goals or the SDGs as a breakthrough movement in 2015 to mobilise and focus global action towards climate change. With the signing of the Paris Agreement, the SDGs bring together 192 member countries to address multiple global challenges, concisely, yet precisely. The formulation of these SDGs was the output of years of work by the member countries and the UN, including the UN Department of Economic and Social Affairs. In the Earth summit 1992 in Rio de Janeiro, Brazil, a plan of action to build a global partnership for sustainable development was adopted. The Evolution of the 17 SDG’s a. In the 2000 New York summit, the Millennium Declaration was made elaborating eight Millennium Development Goals (MDGs) as: Source: https://globalgoalsproject.eu/blog/2019/09/17/what-were-success- factors-of-the-millennium-development-goals/ 5  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) b. In the 2002 Earth summit in Johannesburg, South Africa, the Johannesburg Declaration on Sustainable Development, and the Plan of Implementation was adopted reaffirming the global community’s commitments to poverty eradication, and to the environment, by including more emphasis on multilateral partnerships. c. In the 2012 Earth summit again in Rio de Janeiro, adopted “The Future We Want” to kick start a process for the formulation of a set of Sustainable Development Goals – SDGs to build upon the eight MDGs that are ending their timeline in 2015. d. A thirty-member Open Working Group was set up in 2013 to generate a proposal on the sustainable development goals that resulted in the current 17 SDGs in 2015 after several consultations and discussions. e. 2015 was the year for many other major global agreements in sustainability such as the Paris agreement on Climate Change, Addis Ababa Action Agenda on financing for development, Sendai Framework for Disaster Risk Reduction. Now, the annual High-level Political Forum on Sustainable Development serves as the central UN platform for the follow-up and review of the SDGs. Main objective of these goals is to develop a plan to develop and grow the world in a sustainable and inclusive fashion, taking into consideration people, the economy, and environment. From lack of food to poverty, hygiene and health to collaboration and partnership, these goals do appear to be generic and can get as detailed and as comprehensive as a member country wants them to be for their own state. 1.3.2. The 5 pillars of Sustainable Development Goals (SDGs) The SDGs have started a movement which is based on the five pillars, also known as the 5 Ps of the SDGs. The 17 Goals are aligned to these broad pillars. The Sustainable Development Goals (SDGs) aren’t just 17 disparate objectives; they are connected to five pillars known as the 5 Ps: People, Planet, Prosperity, Peace, and Partnership. Each thread represents a crucial aspect of building a just, equitable, and sustainable future for all. a. People stand at the heart of this tapestry. Imagine a world where everyone has enough to eat, access to quality education and healthcare, and the opportunity to thrive regardless of gender or background. That’s the essence of this pillar, striving to eradicate poverty, hunger, and inequality while ensuring good health and well-being for all. b. But a healthy society needs a healthy planet. Planet represents our commitment to protecting and nurturing the Earth. It speaks of combating climate change, safeguarding biodiversity, and ensuring everyone has access to clean water and sanitation. Recognizing that a thriving planet is the foundation for a thriving society, this pillar weaves sustainability into every aspect of human activity. 6  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) c. Next comes Prosperity. It envisions a world where economic growth benefits everyone, not just a privileged few. This pillar promotes decent work opportunities, sustainable infrastructure, and responsible resource use. It aims to bridge the gap between rich and poor, ensuring equitable distribution of benefits and fostering innovation for a green future. d. But true prosperity cannot exist without Peace. This pillar tackles deep-rooted inequalities, builds strong institutions, and promotes justice for all. It envisions societies free from violence and discrimination, where everyone has access to justice systems and feels safe and secure. Only in such an environment can true peace and social cohesion flourish. e. Finally, Partnership underscores the collective effort needed to achieve this ambitious vision. It calls for governments, businesses, civil society, and individuals to join hands, share knowledge, and mobilize resources. From technology transfer to financial support, this pillar emphasizes collaboration as the driving force behind sustainable development. These 5 Ps aren’t isolated threads; they’re intricately linked. Progress in one area strengthens the others. Educated and healthy individuals contribute to a sustainable economy. Sustainable practices drive inclusive growth. Peaceful societies protect the environment. In essence, the 5 Ps form a symphony of interconnected goals, their harmonious playing creating a future where people, planet, and prosperity can coexist in peace, united by a spirit of partnership. How the Pillars connect to the Goals The goals (discussed later) 1 to 5 primarily focus on People, 6 to 15 focus on Planet and Prosperity, 16 on Peace, and 17 on Partnerships. However, many of these are interlinked and hence the elements of all five Ps can be found in the sustainable goals. For example, the Goal to end Poverty is primarily focused on People, but the indicators for the goal link to Prosperity, Peace, and Partnerships. Similarly, all the 17 goals can be seen to be cross related to all the five elements of sustainability. The global indicator framework for 2030 agenda of Sustainable Development Goals includes targets and indicators. There are 169 targets and 247 indicators listed in the global indicator framework. However, only 231 indicators are unique ones. Twelve indicators repeat under two or three different targets. People – SDGs This encompasses eradicating poverty and hunger, ensuring quality education, promoting gender equality, and guaranteeing good health and well-being for all. It focuses on creating a world where everyone thrives, with equal opportunities and access to basic necessities. Goals Target GOAL 1: No Poverty End poverty in all its forms everywhere 7  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goals Target GOAL 2: Zero Hunger End hunger, achieve food security. Improved nutrition, and promote sustainable agriculture GOAL 3: Good Health and Well-being Ensure healthy lives and promote well- being for all at all ages GOAL 4: Quality Education Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all GOAL 5: Gender Equality Achieve gender equality and empower all women and girls Planet and Prosperity – SDGs Planet: This pillar deals with protecting our planet and its resources. It tackles climate change, promotes sustainable consumption and production, safeguards biodiversity, and ensures clean water and sanitation access. It recognizes the Earth’s health as crucial for human well-being. Prosperity: This refers to fostering inclusive and sustainable economic growth, creating decent work and opportunities for all. It emphasizes responsible economic development that considers both social and environmental aspects, aiming for shared prosperity across nations. Goals Target GOAL 6: Clean Water and Sanitation Ensure availability, sustainable management of water and sanitation for all GOAL 7: Affordable and Clean Energy Ensure access to affordable, reliable, and sustainable. And modern energy for all 8  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goals Target GOAL 8: Decent Work and Economic Promote sustained, inclusive and Growth sustainable economic growth, full and productive employment and decent work for all GOAL 9: Industry, Innovation, and Build resilient infrastructure, promote Infrastructure inclusive, sustainable industrialization, and foster innovation GOAL 10: Reduced Inequality Reduce inequality within and among countries GOAL 11: Sustainable Cities and Make cities and human settlements Communities inclusive, safe, resilient, and sustainable GOAL 12: Responsible Consumption and Ensure sustainable consumption and Production production patterns GOAL 13: Climate Action Take urgent action to combat climate change and its impacts GOAL 14: Life Below Water Conserve and sustainably use the oceans, seas, and marine resources for sustainable Development GOAL 15: Life on Land Protect, restore, and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, halt, and reverse land degradation. and halt biodiversity loss 9  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Peace – SDGs Building peaceful and inclusive societies requires ensuring strong institutions, reducing inequalities, promoting justice, and fostering global partnerships. This pillar addresses conflict, violence, and discrimination, striving for a world where everyone feels safe and secure. Goals Target GOAL 16: Promote peaceful and inclusive societies Peace and Justice Strong Institutions for sustainable development, provide access to justice for all, and build effective, accountable, and inclusive institutions at all levels Partnership – SDGs Achieving the SDGs requires collaboration at all levels – individuals, governments, civil society, and businesses. This pillar calls for multi-stakeholder partnerships, knowledge sharing, and technology transfer to ensure no one is left behind. Goals Target GOAL 17: Strengthen the means of implementation Partnerships to achieve the Goal and revitalize the global partnership for sustainable development. 1.3.3. The 17 SDG and Targets The Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. The 17 SDGs are integrated—they recognize that action in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability. Goal 1 – No Poverty Targets to achieve the Goal Eradicating extreme poverty for all people 1.1 By 2030, eradicate extreme poverty everywhere by 2030 is a pivotal goal of for all people everywhere, currently the 2030 Agenda for Sustainable measured as people living on less than Development. $2.15 a day. Extreme poverty, defined as surviving 1.2 By 2030, reduce at least by half on less than $2.15 per person per day the proportion of men, women and at 2017 purchasing power parity, has children of all ages living in poverty witnessed remarkable declines over recent in all its dimensions according to decades. national definitions. 10  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 1 – No Poverty Targets to achieve the Goal However, the emergence of COVID-19 1.3 Implement nationally appropriate marked a turning point, reversing these social protection systems and gains as the number of individuals living in measures for all, including floors, and extreme poverty increased for the first time by 2030 achieve substantial coverage in a generation by almost 90 million over of the poor and the vulnerable previous predictions. 1.4 By 2030, ensure that all men and Poverty has many dimensions, but its women, in particular the poor and causes include unemployment, social the vulnerable, have equal rights exclusion, and high vulnerability of certain to economic resources, as well as populations to disasters, diseases and other access to basic services, ownership phenomena which prevent them from being and control over land and other forms productive. of property, inheritance, natural resources, appropriate new technology and financial services, including microfinance. 1.5 By 2030, build the resilience of the poor and those in vulnerable situations and reduce their exposure and vulnerability to climate-related extreme events and other economic, social and environmental shocks and disasters. 1.A Ensure significant mobilization of resources from a variety of sources, including through enhanced development cooperation, in order to provide adequate and predictable means for developing countries, in particular least developed countries, to implement programmes and policies to end poverty in all its dimensions. 1.B Create sound policy frameworks at the national, regional and international levels, based on pro-poor and gender- sensitive development strategies, to support accelerated investment in poverty eradication actions. Source: https://www.un.org/sustainabledevelopment/poverty/ Goal 2 – Zero Hunger Targets to achieve the Goal Goal 2 is about creating a world free of 2.1 By 2030, end hunger and ensure hunger by 2030. access by all people, in particular the poor and people in vulnerable The global issue of hunger and food situations, including infants, to safe, insecurity has shown an alarming nutritious and sufficient food all year increase since 2015, a trend exacerbated round. by a combination of factors including the pandemic, conflict, climate change, and 2.2 By 2030, end all forms of malnutrition, deepening inequalities. including achieving, by 2025, the 11  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 2 – Zero Hunger Targets to achieve the Goal By 2022, approximately 735 million people internationally agreed targets on – or 9.2% of the world’s population – found stunting and wasting in children themselves in a state of chronic hunger – a under 5 years of age, and address the staggering rise compared to 2019. This data nutritional needs of adolescent girls, underscores the severity of the situation, pregnant and lactating women and revealing a growing crisis. older persons. In addition, an estimated 2.4 billion people 2.3 By 2030, double the agricultural faced moderate to severe food insecurity productivity and incomes of small-scale in 2022. This classification signifies their food producers, in particular women, lack of access to sufficient nourishment. indigenous peoples, family farmers, This number escalated by an alarming 391 pastoralists and fishers, including million people compared to 2019. through secure and equal access to land, other productive resources and The persistent surge in hunger and food inputs, knowledge, financial services, insecurity, fueled by a complex interplay of markets and opportunities for value factors, demands immediate attention and addition and non-farm employment. coordinated global efforts to alleviate this critical humanitarian challenge. 2.4 By 2030, ensure sustainable food production systems and implement Extreme hunger and malnutrition remain resilient agricultural practices that a barrier to sustainable development and increase productivity and production, create a trap from which people cannot that help maintain ecosystems, that easily escape. strengthen capacity for adaptation to climate change, extreme weather, Hunger and malnutrition mean less drought, flooding and other disasters productive individuals, who are more prone and that progressively improve land to disease and thus often unable to earn and soil quality. more and improve their livelihoods. 2.5 By 2020, maintain the genetic diversity 2 billion people in the world do not have of seeds, cultivated plants and farmed regular access to safe, nutritious and and domesticated animals and sufficient food. their related wild species, including through soundly managed and In 2022, 148 million children had stunted diversified seed and plant banks at the growth and 45 million children under the national, regional and international age of 5 were affected by wasting. levels, and promote access to and fair and equitable sharing of benefits arising from the utilization of genetic resources and associated traditional knowledge, as internationally agreed. 2.A Increase investment, including through enhanced international cooperation, in rural infrastructure, agricultural research and extension services, technology development and plant and livestock gene banks in order to enhance agricultural productive capacity in developing countries, in particular least developed countries. 12  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 2 – Zero Hunger Targets to achieve the Goal 2.B Correct and prevent trade restrictions and distortions in world agricultural markets, including through the parallel elimination of all forms of agricultural export subsidies and all export measures with equivalent effect, in accordance with the mandate of the Doha Development Round. 2.C Adopt measures to ensure the proper functioning of food commodity markets and their derivatives and facilitate timely access to market information, including on food reserves, in order to help limit extreme food price volatility. Source: https://www.un.org/sustainabledevelopment/hunger/ Goal 3 – Good Health and Well being Targets to achieve the Goal Great strides have been made in improving 3.1 By 2030, reduce the global maternal people’s health in recent years. mortality ratio to less than 70 per 100,000 live births. 146 out of 200 countries or areas have already met or are on track to meet the SDG 3.2 By 2030, end preventable deaths of target on under-5 mortality. newborns and children under 5 years of age, with all countries aiming to Effective HIV treatment has cut global AIDS- reduce neonatal mortality to at least related deaths by 52 per cent since 2010 as low as 12 per 1,000 live births and and at least one neglected tropical disease under-5 mortality to at least as low as has been eliminated in 47 countries. 25 per 1,000 live births. However, inequalities in health care access 3.3 By 2030, end the epidemics of AIDS, still persist. The COVID-19 pandemic and tuberculosis, malaria and neglected other ongoing crises have impeded progress tropical diseases and combat towards Goal 3. hepatitis, water-borne diseases and other communicable diseases. Childhood vaccinations have experienced the largest decline in three decades, and 3.4 By 2030, reduce by one third premature tuberculosis and malaria deaths have mortality from non-communicable increased compared with pre-pandemic diseases through prevention and levels. treatment and promote mental health and well-being. The Sustainable Development Goals make a bold commitment to end the epidemics 3.5 Strengthen the prevention and of AIDS, tuberculosis, malaria and other treatment of substance abuse, communicable diseases by 2030. including narcotic drug abuse and harmful use of alcohol. 3.6 By 2020, halve the number of global deaths and injuries from road traffic accidents. 13  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 3 – Good Health and Well being Targets to achieve the Goal The aim is to achieve universal health 3.7 By 2030, ensure universal access to coverage and provide access to safe and sexual and reproductive health-care affordable medicines and vaccines for all. services, including for family planning, information and education, and the To overcome these setbacks and address integration of reproductive health into long-standing health care shortcomings, national strategies and programmes. increased investment in health systems is needed to support countries in their 3.8 Achieve universal health coverage, recovery and build resilience against future including financial risk protection, health threats. access to quality essential health-care services and access to safe, effective, quality and affordable essential medicines and vaccines for all. 3.9 By 2030, substantially reduce the number of deaths and illnesses from hazardous chemicals and air, water and soil pollution and contamination. 3.A Strengthen the implementation of the World Health Organization Framework Convention on Tobacco Control in all countries, as appropriate. 3.B Support the research and development of vaccines and medicines for the communicable and noncommunicable diseases that primarily affect developing countries, provide access to affordable essential medicines and vaccines, in accordance with the Doha Declaration on the TRIPS Agreement and Public Health, which affirms the right of developing countries to use to the full the provisions in the Agreement on Trade Related Aspects of Intellectual Property Rights regarding flexibilities to protect public health, and, in particular, provide access to medicines for all. 3.C Substantially increase health financing and the recruitment, development, training and retention of the health workforce in developing countries, especially in least developed countries and small island developing States. 3.D Strengthen the capacity of all countries, in particular developing countries, for early warning, risk reduction and management of national and global health risks. Source: https://www.un.org/sustainabledevelopment/health/ 14  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 4 – Quality Education Targets to achieve the Goal Progress towards quality education was 4.1 By 2030, ensure that all girls and boys already slower than required before complete free, equitable and quali- the pandemic, but COVID-19 has had ty primary and secondary education devastating impacts on education, causing leading to relevant and Goal-4 effec- learning losses in four out of five of the 104 tive learning outcomes. countries studied. 4.2 By 2030, ensure that all girls and boys Without additional measures, an estimated have access to quality early childhood 84 million children and young people will development, care and preprimary ed- stay out of school by 2030 and approximately ucation so that they are ready for pri- 300 million students will lack the basic mary education. numeracy and literacy skills necessary for success in life. 4.3 By 2030, ensure equal access for all women and men to affordable and In addition to free primary and secondary quality technical, vocational and ter- schooling for all boys and girls by 2030, the tiary education, including university. aim is to provide equal access to affordable vocational training, eliminate gender and 4.4 By 2030, substantially increase the wealth disparities, and achieve universal number of youth and adults who have access to quality higher education. relevant skills, including technical and vocational skills, for employment, Education is the key that will allow many decent jobs and entrepreneurship. other Sustainable Development Goals (SDGs) to be achieved. When people are 4.5 By 2030, eliminate gender dispari- able to get quality education they can break ties in education and ensure equal from the cycle of poverty. access to all levels of education and vocational training for the vulnerable, Education helps to reduce inequalities and including persons with disabilities, in- to reach gender equality. It also empowers digenous peoples and children in vul- people everywhere to live more healthy and nerable situations. sustainable lives. Education is also crucial to fostering tolerance between people and 4.6 By 2030, ensure that all youth and a contributes to more peaceful societies. substantial proportion of adults, both men and women, achieve literacy and To deliver on Goal 4, education financing numeracy. must become a national investment priority. Furthermore, measures such as making 4.7 By 2030, ensure that all learners ac- education free and compulsory, increasing quire the knowledge and skills needed the number of teachers, improving basic to promote sustainable development, school infrastructure and embracing digital including, among others, through edu- transformation are essential. cation for sustainable development and sustainable lifestyles, human rights, gender equality, promotion of a cul- ture of peace and non-violence, global citizenship and appreciation of cultural diversity and of culture’s con- tribution to sustainable development. 4.A Build and upgrade education facilities that are child, disability and gender sensitive and provide safe, nonviolent, inclusive and effective learning environments for all. 15  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 4 – Quality Education Targets to achieve the Goal 4.B By 2020, substantially expand globally the number of scholarships available to developing countries, in particular least developed countries, small island developing States and African countries, for enrolment in higher education, including vocational training and information and communications technology, technical, engineering and scientific programmes, in developed countries and other developing countries. 4.C By 2030, substantially increase the supply of qualified teachers, including through international cooperation for teacher training in developing countries, especially least developed countries and small island developing states Source: https://www.un.org/sustainabledevelopment/education/ Goal 5 – Gender Equality Targets to achieve the Goal Gender equality is not only a fundamental 5.1 End all forms of discrimination against human right, but a necessary foundation all women and girls everywhere. for a peaceful, prosperous and sustainable world. 5.2 Eliminate all forms of violence against all women and girls in the public and There has been progress over the last private spheres, including trafficking decades, but the world is not on track to and sexual and other types of achieve gender equality by 2030. exploitation. Women and girls represent half of the 5.3 Eliminate all harmful practices, such world’s population and therefore also half of as child, early and forced marriage its potential. But gender inequality persists and female genital mutilation. everywhere and stagnates social progress. 5.4 Recognize and value unpaid care and On average, women in the labor market still domestic work through the provision earn 23 percent less than men globally and of public services, infrastructure and women spend about three times as many social protection policies and the hours in unpaid domestic and care work as promotion of shared responsibility men. within the household and the family as nationally appropriate. Sexual violence and exploitation, the unequal division of unpaid care and 5.5 Ensure women’s full and effective domestic work, and discrimination in public participation and equal opportunities office, all remain huge barriers. for leadership at all levels of decision making in political, economic and public life. 16  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 5 – Gender Equality Targets to achieve the Goal All these areas of inequality have been 5.6 Ensure universal access to sexual and exacerbated by the COVID-19 pandemic: reproductive health and reproductive there has been a surge in reports of sexual rights as agreed in accordance violence, women have taken on more care with the Programme of Action of work due to school closures, and 70% the International Conference on of health and social workers globally are Population and Development and the women. Beijing Platform for Action and the outcome documents of their review At the current rate, it will take an estimated conferences. 300 years to end child marriage, 286 years to close gaps in legal protection and remove 5.A Undertake reforms to give women discriminatory laws, 140 years for women equal rights to economic resources, as to be represented equally in positions of well as access to ownership and control power and leadership in the workplace, and over land and other forms of property, 47 years to achieve equal representation in financial services, inheritance and national parliaments. natural resources, in accordance with national laws. Political leadership, investments and comprehensive policy reforms are needed 5.B Enhance the use of enabling to dismantle systemic barriers to achieving technology, in particular information Goal 5 Gender equality is a cross-cutting and communications technology, to objective and must be a key focus of national promote the empowerment of women. policies, budgets and institutions. 5.C Adopt and strengthen sound policies and enforceable legislation for the promotion of gender equality and the empowerment of all women and girls at all levels. Source: https://www.un.org/sustainabledevelopment/gender-equality/ Goal 6 – Clean Water and Sanitation Targets to achieve the Goal Access to safe water, sanitation and hygiene 6.1 By 2030, achieve universal and is the most basic human need for health equitable access to safe and affordable and well-being. drinking water for all. Billions of people will lack access to these 6.2 By 2030, achieve access to adequate basic services in 2030 unless progress and equitable sanitation and hygiene quadruples. for all and end open defecation, paying special attention to the needs of women Demand for water is rising owing to rapid and girls and those in vulnerable population growth, urbanization and situations. increasing water needs from agriculture, industry, and energy sectors. 6.3 By 2030, improve water quality by reducing pollution, eliminating The demand for water has outpaced dumping and minimizing release population growth, and half the world’s of hazardous chemicals and population is already experiencing severe materials, halving the proportion water scarcity at least one month a year. of untreated wastewater and substantially increasing recycling and safe reuse globally. 17  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 6 – Clean Water and Sanitation Targets to achieve the Goal Water scarcity is projected to increase with 6.4 By 2030, substantially increase water- the rise of global temperatures as a result of use efficiency across all sectors and climate change. ensure sustainable withdrawals and supply of freshwater to address water Investments in infrastructure and sanitation scarcity and substantially reduce the facilities; protection and restoration of number of people suffering from water water- related ecosystems; and hygiene scarcity. education are among the steps necessary to ensure universal access to safe and 6.5 By 2030, implement integrated water affordable drinking water for all by 2030, resources management at all levels, and improving water-use efficiency is one including through transboundary key to reducing water stress. cooperation as appropriate. There has been positive progress. Between 6.6 By 2020, protect and restore water- 2015 and 2022, the proportion of the world’s related ecosystems, including population with access to safely managed mountains, forests, wetlands, rivers, drinking water increased from 69 per cent aquifers and lakes. to 73 per cent. 6.A By 2030, expand international cooperation and capacity-building support to developing countries in water- and sanitation-related activities and programmes, including water harvesting, desalination, water efficiency, wastewater treatment, recycling and reuse technologies. 6.B Support and strengthen the participation of local communities in improving water and sanitation management Source: https://www.un.org/sustainabledevelopment/water-and-sanitation/ 18  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 7 – Affordable and Clean Energy Targets to achieve the Goal Goal 7 is about ensuring access to clean 7.1 By 2030, ensure universal access to and affordable energy, which is key to affordable, reliable and modern energy the development of agriculture, business, services. communications, education, healthcare and transportation. 7.2 By 2030, increase substantially the share of renewable energy in the global The world continues to advance towards energy mix. sustainable energy targets – but not fast enough. 7.3 By 2030, double the global rate of improvement in energy efficiency. At the current pace, about 660 million people will still lack access to electricity 7.A By 2030, enhance international and close to 2 billion people will still rely on cooperation to facilitate access to polluting fuels and technologies for cooking clean energy research and technology, by 2030. including renewable energy, energy efficiency and advanced and cleaner Our everyday life depends on reliable and fossil-fuel technology, and promote affordable energy. And yet the consumption investment in energy infrastructure of energy is the dominant contributor to and clean energy technology. climate change, accounting for around 60 percent of total global greenhouse gas 7.B By 2030, expand infrastructure and emissions. upgrade technology for supplying modern and sustainable energy From 2015 to 2021, the proportion of the services for all in developing countries, global population with access to electricity in particular least developed countries, has increased from 87 per cent to 91 per small island developing States, and cent. land-locked developing countries, in accordance with their respective Ensuring universal access to affordable programmes of support. electricity by 2030 means investing in clean energy sources such as solar, wind and thermal. Expanding infrastructure and upgrading technology to provide clean energy in all developing countries is a crucial goal that can both encourage growth and help the environment. Source: https://www.un.org/sustainabledevelopment/energy/ 19  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 8 - Targets to achieve the Goal Decent Work and Economic Growth Goal 8 is about promoting inclusive and 8.1 Sustain per capita economic growth sustainable economic growth, employment in accordance with national and decent work for all. circumstances and, in particular, at least 7 per cent gross domestic Multiple crises are placing the global product growth per annum in the least economy under serious threat. Global real developed countries. GDP per capita growth is forecast to slow down in 2023 and with ever increasing 8.2 Achieve higher levels of economic challenging economic conditions, more productivity through diversification, workers are turning to informal employment. technological upgrading and innovation, including through a focus Globally, labour productivity has increased, on high value added and labour- and the unemployment rate has decreased. intensive sectors. However, more progress is needed to increase employment opportunities, especially for 8.3 Promote development-oriented policies young people, reduce informal employment that support productive activities, and labour market inequality (particularly decent job creation, entrepreneurship, in terms of the gender pay gap), promote creativity and innovation, and safe and secure working environments, encourage the formalization and and improve access to financial services to growth of micro-, small- and medium- ensure sustained and inclusive economic sized enterprises, including through growth. access to financial services. The global unemployment rate declined 8.4 Improve progressively, through significantly in 2022, falling to 5.4 per 2030, global resource efficiency in cent from a peak of 6.6 per cent in 2020 as consumption and production and economies began recovering from the shock endeavour to decouple economic of the COVID-19 pandemic. This rate was growth from environmental lower than the pre-pandemic level of 5.5 per degradation, in accordance with the cent in 2019. 10-year framework of programmes on sustainable consumption and production, with developed countries taking the lead. 8.5 By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value. 8.6 By 2020, substantially reduce the proportion of youth not in employment, education or training. 20  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 8 - Targets to achieve the Goal Decent Work and Economic Growth 8.7 Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms. 8.8 Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment. 8.9 By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products. 8.10 Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all. 8.A Increase Aid for Trade support for developing countries, in particular least developed countries, including through the Enhanced Integrated Framework for Trade-Related Technical Assistance to Least Developed Countries 8.B By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization Source: https://www.un.org/sustainabledevelopment/economic-growth/ 21  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 9 – Targets to achieve the Goal Industry, Innovation and Infrastructure Goal 9 seeks to build resilient infrastructure, 9.1 Develop quality, reliable, sustainable promote sustainable industrialization and and resilient infrastructure, foster innovation. including regional and transborder infrastructure, to support economic Economic growth, social development and development and human well-being, climate action are heavily dependent on with a focus on affordable and investments in infrastructure, sustainable equitable access for all. industrial development and technological progress. 9.2 Promote inclusive and sustainable industrialization and, by 2030, In the face of a rapidly changing global significantly raise industry’s share economic landscape and increasing of employment and gross domestic inequalities, sustained growth must include product, in line with national industrialization that first of all, makes circumstances, and double its share opportunities accessible to all people, and in least developed countries. second, is supported by innovation and resilient infrastructure. 9.3 Increase the access of small-scale industrial and other enterprises, in Even before the outbreak of the COVID-19 particular in developing countries, to pandemic, global manufacturing – considered financial services, including affordable an engine of overall economic growth – has credit, and their integration into value been steadily declining due to tariffs and chains and markets. trade tensions. The manufacturing decline caused by the pandemic has further caused 9.4 By 2030, upgrade infrastructure serious impacts on the global economy. and retrofit industries to make them sustainable, with increased resource- This is primarily due to high inflation, energy use efficiency and greater adoption price shocks, persistent disruptions in the of clean and environmentally sound supply of raw materials and intermediate technologies and industrial processes, goods, and global economic deceleration. with all countries taking action in accordance with their respective While LDCs in Asia have made considerable capabilities. progress, African LDCs would need to 9.5 Enhance scientific research, upgrade change the current trajectory and accelerate the technological capabilities of progress significantly to attain the target industrial sectors in all countries, by 2030. However, medium-high and high- in particular developing countries, technology industries demonstrated robust including, by 2030, encouraging growth rates. innovation and substantially increasing the number of research and development workers per 1 million people and public and private research and development spending. 22  Background Material on Sustainability and Business Responsibility and Sustainability Reporting (BRSR) Goal 9 –