Indian Jou nal o Ene gy and Ene gy Resou ces (IJEER)
ISSN: 2583-1186 (Online), Volume-5 Issue-1, No embe 2025
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DOI: 10.54105/ijee .A1054.05011125
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Abs ac : India has commi ed o eaching ne -ze o emissions by
2070 and educing emissions in ensi y by 45% by 2030, equi ing
a c edible sys em o co po a e En i onmen al, Social, and
Go e nance (ESG) disclosu e. The in oduc ion o he Business
Responsibili y and Sus ainabili y Repo (BRSR) in 2021 has
made p og ess owa d enhancing anspa ency, hough i s each
emains limi ed. Cu en ly, he BRSR applies only o he op 1,000
companies, lacks obus assu ance measu es, and su e s om
agmen ed o e sigh , esul ing in c i ical gaps in c edibili y,
compa abili y, and in es o con idence. This pape e alua es
India’s amewo k agains he Eu opean Union’s Co po a e
Sus ainabili y Repo ing Di ec i e (CSRD) and he Johannesbu g
S ock Exchange Guidance in Sou h A ica. D awing on
policy-mix heo y and he mul i-le el pe spec i e, he analysis
highligh s how he CSRD bene i s om s a u o y assu ance and
in eg a ed legisla ion. In con as , he JSE illus a es he inhe en
weaknesses o olun a y alignmen wi hou en o cemen . The
indings indica e ha BRSR is easible bu weak in c edibili y and
alignmen , lea ing India ulne able o epu a ional and
in es men isks. Th ee e o m pa hways a e assessed:
main aining he s a us quo, adop ing a CSRD-s yle amewo k, o
enhancing BRSR wi h phased manda o y assu ance. The analysis
ecommends he enhanced BRSR op ion as he mos p ac ical
pa hway, as i balances ambi ion wi h easibili y while acili a ing
e en ual con e gence wi h global s anda ds.
Keywo ds: Ca bon Accoun ing, ESG, Sus ainabili y, T ansi ion
Pa hways.
Nomencla u e:
BRSR: Business Responsibili y and Sus ainabili y Repo
CSRD: Co po a e Sus ainabili y Repo ing Di ec i e
JSE: Johannesbu g S ock Exchange
BRR: Business Responsibili y Repo
SMEs: Small and Medium-Sized En e p ises
MoF: Minis y o Finance
MCA: Minis y o Co po a e A ai s
GRI: Global Repo ing Ini ia i e
ISSB: In e na ional Sus ainabili y S anda ds Boa d
MLP: Mul i-Le el Pe spec i e
SEBI: Secu i ies and Exchange Boa d o India
ESG: En i onmen al, Social, and Go e nance
MoF: Minis y o Finance
I. INTRODUCTION
India’s goal o eaching ne ze o emissions by 2070 has
heigh ened he need o co po a e accoun abili y and
Manusc ip ecei ed on 03 No embe 2025 | Re ised
Manusc ip ecei ed on 08 No embe 2025 | Manusc ip
Accep ed on 15 No embe 2025 | Manusc ip published on 28
No embe 2025.
*Co espondence Au ho (s)
Ka ine Nai *, Depa men o Sus ainabili y, Uni e si y o Sussex,
Benniwo h, Lincolnshi e (LN86JH), Uni ed Kingdom, Email ID:
ka inenai @gmail.com, ORCID ID: 0009-0004-1683-8016
© The Au ho s. Published by La ice Science Publica ion (LSP). This is
an open-access a icle unde he CC-BY-NC-ND license
(h p://c ea i ecommons.o g/licenses/by-nc-nd/4.0/)
anspa ency in sus ainabili y epo ing [1]. To ope a ionalize
esponsible business conduc , he Secu i ies and Exchange
Boa d o India (SEBI) in oduced he Business
Responsibili y and Sus ainabili y Repo (BRSR) in 2021,
manda ing disclosu es o he op 1,000 lis ed companies [2],
[3]. The BRSR eplaced he ea lie Business Responsibili y
Repo (BRR), ep esen ing a p og essi e s ep owa d
in eg a ing en i onmen al, social, and go e nance (ESG)
me ics in o co po a e epo ing [4].
Al hough he BRSR was designed wi h s ong in en ions, i
has aced c i icism o becoming la gely a compliance
exe cise, unc ioning mo e as a epo ing ool han a
amewo k ha d i es meaning ul change [5]. The cu en
ESG epo ing sys em s uggles o deli e he eliabili y and
compa abili y expec ed o a well-es ablished disclosu e
egime. I s olun a y s uc u e o smalle i ms, along wi h
minimal assu ance equi emen s and agmen ed o e sigh ,
makes i di icul o p oduce da a ha in es o s can us [4].
As a esul o inadequa e e i ica ion p ocesses, companies
can selec i ely p esen hei posi i e achie emen s, he eby
inc ease he isk o g eenwashing, and nega i ely a ec
in es o con idence and b oade policy objec i es [6].
Globally, he Eu opean Union’s Co po a e Sus ainabili y
Repo ing Di ec i e (CSRD) and Sou h A ica’s
Johannesbu g S ock Exchange (JSE) disclosu e egime
p o ide aluable compa isons. Each ep esen s a dis inc
s a egy o in eg a ing assu ance and main aining egula o y
cohe ence [5], [6]. This s udy uses hese wo egimes o
e alua e India’s ESG amewo k h ough a compa a i e
policy lens, ocusing on c edibili y, easibili y, and
alignmen .
The pape con ibu es o g owing li e a u e on ESG
go e nance by in eg a ing ansi ion heo y and policy-mix
analysis, o e ing ac ionable ecommenda ions o imp o e
India’s ESG disclosu e sys em. I aims o iden i y pa hways
o s eng hening c edibili y while main aining
adminis a i e easibili y and poli ical iabili y.
II. LITERATURE REVIEW
The BRSR has been desc ibed as a s ep o wa d in
co po a e anspa ency; howe e , esea ch shows i
essen ially ope a es as a ick-box exe cise [3], [7].
Disclosu es ocus hea ily on go e nance me ics, wi h
en i onmen al and social indica o s emaining
unde de eloped [6]. This imbalance, coupled wi h limi ed
independen e i ica ion, has aised conce ns o e he
amewo k’s c edibili y. Ma ke capi aliza ion h esholds
u he exclude many ca bon-in ensi e i ms, including
India’s 63 million small and medium-sized en e p ises
(SMEs), which collec i ely con ibu e
signi ican ly o na ional emissions
[3]. Capaci y limi a ions in ensi y
hese exis ing p oblems. Se e al
Re o ming India’s ESG Repo ing: Lessons om
he EU and Sou h A ica
Ka ine Nai
Re o ming India’s ESG Repo ing: Lessons om he EU and Sou h A ica
10
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s udies ha e epo ed a sho age o ained ESG
p o essionals, poo da a quali y, and he lack o s anda dized
assu ance p ac ices [8], [9]. These gaps make i di icul o
companies o in e p e equi emen s consis en ly o o
egula o s o en o ce hem e ec i ely. Ins i u ional
agmen a ion ac oss SEBI, he Minis y o Co po a e A ai s
(MCA), and he Minis y o Finance (MoF) also c ea es
ju isdic ional ambigui y and inconsis en en o cemen . These
weaknesses mi o indings om o he eme ging economies
such as B azil and Indonesia, whe e di ided o e sigh
unde mines egime c edibili y [10].
In con as , he EU’s CSRD manda es independen
assu ance, double ma e iali y assessmen , and digi al agging
o app oxima ely 50,000 i ms [11], [12]. Al hough
compliance cos s a e high, he CSRD’s comp ehensi e scope
suppo s compa abili y and c edibili y. Sou h A ica’s JSE
amewo k, in place since 2010, in eg a es he Global
Repo ing Ini ia i e (GRI) and he In e na ional
Sus ainabili y S anda ds Boa d (ISSB) guidelines, hough
en o cemen emains weak [13].
Toge he , hese challenges align wi h Rogge and
Reicha d ’s [14] policy-mix amewo k, which highligh s he
signi icance o c edibili y, cohe ence, and
comp ehensi eness o success ul policy execu ion [14].
Geels’ mul i-le el pe spec i e (MLP) ein o ces his poin by
illus a ing how exis ing ins i u ional amewo ks can impede
sys emic ans o ma ion [15]. Collec i ely, he li e a u e
indica es ha o India's ESG epo ing amewo k o ope a e
e ec i ely, i equi es enhanced assu ance sys ems, mo e
p ecise me ics, and be e -coo dina ed go e nance
s uc u es.
III. METHODOLOGY
A. Analy ical F amewo k
This s udy employs a quali a i e compa a i e policy
analysis d awing on wo heo e ical lenses:
i. Policy-Mix F amewo k: Following Rogge and
Reicha d [14], his amewo k e alua es he policy
landscape using h ee co e c i e ia: c edibili y,
easibili y, and alignmen .
ii. T ansi ion Theo y F amewo k: Using Geels’ [15] MLP,
ESG e o ms a e placed wi hin he b oade
sus ainabili y ansi ion landscape o analysis.
B. Da a Sou ces and E alua ion
The analysis is based on egula o y ma e ial such as SEBI
guidelines, EU Commission di ec i es, and JSE disclosu e
no es, complemen ed by academic li e a u e, consul ancy
epo s (SES, CRISIL), and in e na ional policy da abases.
A quali a i e coding app oach was employed, assigning
each amewo k a sco e anging om 0 o 5 based on he
h ee e alua ion c i e ia. Sco es we e de i ed om
documen a y e idence a he han agg ega ed indices o
p ese e nuance and e lec policy ade-o s. Suppo ing
e idence used o sco e each c i e ion is de ailed in Table S1
(Appendix), which p o ides he unde lying documen a y
sou ces o he compa a i e e alua ion o he BRSR, CSRD,
and JSE amewo ks.
IV. RESULTS
This sec ion p esen s he compa a i e e alua ion o India’s
BRSR agains he EU’s CSRD and Sou h A ica’s JSE
amewo ks, ollowed by a sys em-le el analysis o India’s
egime using he MLP.
A. Compa a i e E alua ion o ESG Disclosu e
F amewo ks
i. Compa a i e Pe o mance O e iew
The assessmen applied h ee c i e ia: c edibili y,
easibili y, and alignmen . These we e d awn om Rogge
and Reicha d ’s [14] policy-mix amewo k.
Table I summa ises he ela i e pe o mance. The CSRD
pe o ms s onges in e ms o c edibili y and alignmen due
o i s s a u o y assu ance, double ma e iali y, and in eg a ion
wi h EU clima e and inance law. India’s BRSR anks highes
in easibili y, e lec ing i s phased ollou and limi ed
co e age; howe e , i sco es poo ly in c edibili y due o weak
e i ica ion and agmen ed o e sigh . The JSE si s be ween
he wo, mode a ely aligned wi h in e na ional s anda ds bu
weakened by i s olun a y na u e.
Table I: Compa a i e E alua ion o ESG Disclosu e
F amewo ks
C i e ia
India: BRSR
EU: CSRD
Sou h
A ica: JSE
C edibili y
2 (Weak
assu ance)
5 (Manda o y
assu ance)
3 (Pa ial
e i ica ion)
Feasibili y
4 (Phased
ollou )
3 (High
compliance cos )
4 (Mode a e
en o cemen )
Alignmen
2 (Limi ed
con e gence)
5 (Full
in e ope abili y)
4 (Volun a y
alignmen )
Fig. 1 isualises hese di e ences, showing he CSRD as
he mos balanced amewo k, while he BRSR emains
easible bu leas c edible.
[Fig.1: Compa a i e E alua ion o ESG Disclosu e
Regimes Ac oss Six C i e ia]
ii. Empi ical E idence om Indian Fi ms
Fi m-le el da a ein o ce hese s uc u al limi a ions.
S akeholde s Empowe men Se ices [16] ound ha ewe
han 80% o India’s op 100 lis ed i ms published ESG
epo s, only hal disclosed ca bon- educ ion goals, and 35%
se ca bon-in ensi y a ge s. CRISIL [17] epo ed ha only
11% o companies disclosed Scope 3 emissions.
Fig. 2 summa izes hese ou comes,
highligh ing p ocedu al compliance
and low assu ance co e age.
Indian Jou nal o Ene gy and Ene gy Resou ces (IJEER)
ISSN: 2583-1186 (Online), Volume-5 Issue-1, No embe 2025
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[Fig. 2: ESG Pe o mance Among India’s Top 100 Lis ed
Companies]
iii. T ade-O Analysis
The esul s e eal an in e se ela ionship be ween
c edibili y and easibili y (Fig. 3). The CSRD achie es
c edibili y bu aces challenges wi h cos and capaci y; he
BRSR achie es easibili y bu comp omises us and
compa abili y; and he JSE si s in be ween. This con i ms he
s uc u al policy ension p edic ed by Rogge and Reicha d
[14]: c edible sys ems o en exceed ins i u ional capaci y,
while easible sys ems isk supe icial compliance.
[Fig.3: T ade-O s Be ween C edibili y and Feasibili y
Ac oss ESG Disclosu e F amewo ks]
[Fig.4: Mul i-Le el Pe spec i e Mapping o India’s ESG Disclosu e Regime]
B. Mul i-Le el Pe spec i e Analysis
i. Analy ical O e iew
To explain hese ou comes, he MLP amewo k [15] is
applied o si ua e India’s BRSR wi hin i s b oade ansi ion
con ex : Fig. 4 maps p essu es and eedback loops ac oss
landscape, egime, and niche le els.
ii. Findings
A he landscape le el, global p essu es, including he Pa is
Ag eemen , he ISSB, and India’s Ne Ze o 2070 pledge,
demand c edible and assu ed da a. A he egime le el,
o e lapping manda es, weak assu ance capaci y, and a
compliance-o ien ed cul u e sus ain pa h dependency. A he
niche le el, olun a y ini ia i es by ESG a ing agencies and
ci il socie y p omo e inno a ion bu lack s a u o y o ce.
This con igu a ion aps India’s ESG sys em be ween
ex e nal p essu e o c edibili y and domes ic cons ain s on
easibili y. The Enhanced BRSR, discussed in he ollowing
sec ion, is p oposed as a ansi ional b idge o esol e hese
opposing demands.
V. DISCUSSION AND RECOMMENDATIONS
The esul s indica e ha a ension be ween c edibili y and
easibili y hinde s India’s ESG amewo k. While he phased
implemen a ion o he BRSR makes i manageable, he
limi a ions in assu ance, o e lapping manda es, and a lack o
alignmen wi h in e na ional s anda ds de ac om i s
o e all c edibili y [3], [18]. This sec ion analyzes hese
esul s using bo h compa a i e insigh s
and ansi ion heo y pe spec i es.
A. In e p e ing he C edibili y-Feasibili y T ade-O
The compa a i e analysis e eals ha while India’s BRSR
excels in e ms o easibili y, i anks low on c edibili y. In
con as , he EU’s CSRD demons a es how manda o y
assu ance, penal ies, and a ocus on double ma e iali y
signi ican ly enhance he quali y o disclosu es; howe e ,
his app oach imposes subs an ial demands on ins i u ional
capaci y and inc eases compliance
cos s [19], [11]. Sou h A ica’s JSE
model occupies a middle g ound,
wi h olun a y alignmen o global
Re o ming India’s ESG Repo ing: Lessons om he EU and Sou h A ica
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s anda ds enhancing cohe ence, ye i lacks en o cemen
mechanisms o ensu e accoun abili y [10], [20].
Rogge and Reicha d emphasise ha he e ec i eness o
policy depends on cohe ence and comp ehensi eness, a
concep e iden in India’s case [14]. The agmen ed na u e
o India’s sys em, di ided among SEBI, he MCA, and he
MoF, o en esul s in p ocedu al compliance a he han
in eg a ed policy implemen a ion [8]. F om an MLP, he
global demand o assu ed ESG da a con lic s wi h domes ic
ins i u ional cons ain s, such as a sho age o ained
e i ie s and o e lapping esponsibili ies, which oge he
con ibu e o ine ia wi hin he sys em [15], [17].
Wi hou e o m, India isks u he e oding in es o us ,
which, in u n, will esul in missed oppo uni ies in global
capi al ma ke s ha a e now p io i ising assu ed, compa able
ESG in o ma ion [5]. The e o e, he c edibili y gap is bo h an
adminis a i e and s a egic cons ain , limi ing India’s
abili y o bene i om sus ainable inance and s eng hen
clima e diplomacy [21].
B. Policy Lea ning om Compa a i e Models
The EU and Sou h A ican expe iences p o ide key
lessons. The CSRD highligh s he impo ance o es ablishing
a cohe en legisla i e amewo k ha in eg a es clima e,
inance, and co po a e go e nance policies, wi h assu ance
embedded wi hin [11], [22]. Howe e , i s high compliance
cos s demons a e how smalle ma ke s can be s ained by
o e ly ambi ious ansi ions. Al hough he ecen delay in
implemen a ion unde he EU’s “s op- he-clock” highligh s
he impo ance o pacing and ins i u ional eadiness [23].
Con e sely, Sou h A ica’s JSE guidance indica es ha
only pa ial p og ess can be achie ed when alignmen is
p o ided wi hou en o cemen . I sha es many o India’s
challenges, as cohe ence wi h GRI, TCFD, and ISSB
s anda ds imp o ed disclosu e quali y; howe e , i ails o
ensu e eliabili y [13]. [16].
These cases sugges ha India needs a ansi ional pa hway
o achie e success ul ESG e o m. This would s eng hen
c edibili y h ough assu ance and alignmen , wi hou
comp omising easibili y. The p oposed Enhanced BRSR,
p esen ed in he nex sec ion, is an upg aded e sion o he
cu en sys em and o e s his balance [24], [25].
Table II: Compa a i e E alua ion o Policy Op ions
o India’s BRSR
C i e ia
Op ion 1: S a us
Quo +
Inc emen al
Re o m
Op ion 2:
Enhanced BRSR
+ Manda o y
Assu ance
Op ion 3:
Comp ehensi e
ESG F amewo k
(CSRD-S yle)
C edibili y
Poo - weak
assu ance,
g eenwashing
pe sis s
Reasonable
assu ance o
BRSR Co e
s eng hens us
Excellen -
manda o y
assu ance and
penal ies
Feasibili y
Excellen - low
cos , poli ically
easy
Reasonable -
mode a e cos s,
equi es
capaci y-building
Fai - high cos s,
ins i u ional
o e haul needed
Alignmen
Poo - weak
ISSB/CSRD
compa abili y
Good - pa ial
CSRD/ISSB
con e gence
Excellen - ull
in e ope abili y
wi h global
s anda ds
C. Enhanced BRSR as a T ansi ional B idge
Building on hese insigh s, a h ee-s age e o m sequence is
ecommended o s eng hen India’s ESG amewo k while
main aining adminis a i e ealism [7], [26].
Table II summa izes h ee policy op ions o India’s BRSR,
anging om inc emen al e o m o ull s a u o y
con e gence, and e alua es hem agains he h ee policy-mix
c i e ia.
i. Sho - e m: Ins i u ional Cohe ence and Expanded
Co e age Cla i y manda es ac oss SEBI, MCA, and
MoF o educe duplica ion and enhance coo dina ion.
Expand he BRSR’s scope o include ca bon-in ensi e
mid- ie indus ies h ough a ie ed epo ing s uc u e
[16].
ii. Medium- e m: Assu ance and Ve i ie Capaci y.
In oduce phased hi d-pa y assu ance o BRSR Co e
disclosu es and es ablish acc edi a ion o ESG
e i ie s. Pa ne ships wi h bodies such as ISSB, GRI,
and ele an p o essional associa ions could suppo
aining and s anda diza ion [8], [9].
iii. Long- e m: Legisla i e In eg a ion and Global
Alignmen G adually e ol e he BRSR in o a s a u o y
ESG disclosu e law, ha monized wi h in e na ional
amewo ks such as he CSRD and ISSB. In eg a e ESG
me ics mo e di ec ly wi h India’s sus ainable inance
axonomy and eme ging ca bon ma ke ules o ensu e
ha he sys em de elops mo e cohe en ly and
consis en ly o e he long e m [21], [12].
D. B oade Implica ions
Imp o ing India’s ESG epo ing amewo k will acili a e
access o sus ainable inance, boos in es o con idence, and
es ablish India as a c edible leade in clima e ac ion [18]. A
phased, c edible disclosu e sys em can also se e as a model
o o he eme ging economies acing simila ins i u ional and
esou ce challenges [27]. By sequencing e o ms, India can
e ec i ely b idge he gap be ween c edibili y and easibili y,
while simul aneously ad ancing economic and
en i onmen al objec i es wi hin a b oade jus ansi ion
amewo k [28].
E. Summa y
Inc emen al ins i u ional imp o emen s mus be combined
wi h g adual alignmen o global s anda ds o an e ec i e
ESG e o m s a egy in India.
The Enhanced BRSR app oach p omises be e assu ance
and cohe ence wi hou o e whelming i ms o egula o s. As
a esul , i ep esen s he mos p ac ical and poli ically iable
op ion, unc ioning as a aluable ansi ional b idge ha
o e s a easible s a egy o aligning India’s sus ainabili y
go e nance wi h in e na ional c edibili y benchma ks.
VI. CONCLUSION
This pape uses compa a i e analysis and ansi ion heo y
o e alua e he ex en o which he BRSR enhances he
c edibili y o ESG epo ing in India. The indings indica e
ha while he BRSR signi ies a no ewo hy ad ancemen
owa d mo e o ganized sus ainabili y disclosu es, i s limi ed
scope, inadequa e assu ance p ocesses, and agmen ed
o e sigh con inue o unde mine in es o con idence and
impede meaning ul compa abili y.
The lessons lea ned om he EU’s CSRD and Sou h
A ica’s JSE amewo k highligh he
i al impo ance o c edibili y and
en o cemen in any e ec i e ESG
egime. The CSRD illus a es ha
Indian Jou nal o Ene gy and Ene gy Resou ces (IJEER)
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manda o y assu ance and cohesi e legisla ion can
signi ican ly p omo e anspa ency bu equi e subs an ial
ins i u ional capaci y. In con as , he JSE shows ha while
olun a y alignmen wi h global s anda ds enhances
consis ency, i o en alls sho in ealizing ull
accoun abili y. Fo India, he p ima y challenge is achie ing
a p ac ical balance be ween c edibili y and easibili y, which
is c ucial o bo h egula o y in eg i y and economic
compe i i eness.
The Enhanced BRSR o e s a ealis ic ansi ional pa hway.
By g adually expanding co e age, s eng hening assu ance
capaci y, and aligning wi h s anda ds such as ISSB and he
CSRD, India can imp o e he eliabili y o ESG epo ing
wi hou o e ex ending i s ins i u ions. A sequenced app oach
p o ides a p ac ical way o enhance c edibili y while
allowing s eady con e gence wi h in e na ional bes p ac ice.
Ul ima ely, c edible ESG disclosu e is mo e han a
epo ing exe cise; i is a s a egic componen o India’s
b oade sus ainable de elopmen ambi ions. A s eng hened
BRSR can os e in es o us , a ac sus ainable inance,
and ein o ce India’s s anding in global clima e go e nance.
Thus, he Enhanced BRSR no only ep esen s a easible
na ional e o m bu also o e s a model ha o he eme ging
economies can adop as hey s i e o c edible and equi able
sus ainabili y ansi ions.
ACKNOWLEDGMENT
K. Nai hanks he Uni e si y o Sussex o i s suppo in
he comple ion o his a icle.
DECLARATION STATEMENT
The e e ence [15] p eda es he jou nal’s 10-yea guideline.
I is e ained because Geels’ wo k p o ides a ounda ional
heo e ical amewo k, he Mul i-Le el Pe spec i e, ha
emains essen ial o analyzing sus ainabili y ansi ions and
is di ec ly ele an o he aims o his s udy.
I mus e i y he accu acy o he ollowing in o ma ion as
he a icle's au ho .
▪ Con lic s o In e es / Compe ing In e es s: Based on
my unde s anding, his a icle has no con lic s o
in e es .
▪ Funding Suppo : This a icle has no been unded by
any o ganiza ions o agencies. This independence
ensu es ha he esea ch is conduc ed wi h objec i i y
and wi hou any ex e nal in luence.
▪ E hical App o al and Consen o Pa icipa e: The
con en o his a icle does no necessi a e e hical
app o al o consen o pa icipa e wi h suppo ing
documen a ion.
▪ Da a Access S a emen and Ma e ial
A ailabili y: The adequa e esou ces o his a icle a e
publicly accessible.
▪ Au ho ’s Con ibu ions: The au ho ship o his a icle
is con ibu ed solely.
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AUTHOR’S PROFILE
Ka ine Nai has se e al yea s o expe ience in he
sus ainabili y sec o , leading ca bon accoun ing p ojec s
and suppo ing clien s in achie ing ISO 14064 audi s.
He wo k spans he UK, EU, and US, and she is cu en ly
deli e ing ESG consul ancy se ices in India. Ka ine’s
expe ience includes suppo ing co po a e acc edi a ions
such as SBTi, CDP, UN Global Compac , and EcoVadis, as well as
designing and deli e ing employee ESG aining p og ammes. She holds a
BSc in Wildli e Conse a ion and an MSc in Ene gy Policy om he
Uni e si y o Sussex, e lec ing an in e disciplina y app oach ha b idges
en i onmen al science and sus ainable business consul ing. He p e iously
published esea ch on he Smoo h-Coa ed O e (Lu ogale pe spicilla a)
highligh s he b ead h and di e si y o he p o essional in e es s.
Disclaime /Publishe ’s No e: The s a emen s, opinions and
da a con ained in all publica ions a e solely hose o he
indi idual au ho (s) and con ibu o (s) and no o he La ice
Science Publica ion (LSP)/ jou nal and/ o he edi o (s). The
La ice Science Publica ion (LSP)/ jou nal and/o he
edi o (s) disclaim esponsibili y o any inju y o people o
p ope y esul ing om any ideas, me hods, ins uc ions, o
p oduc s e e ed o in he con en .
APPENDIX
Table S1: E idence Base o ESG Disclosu e F amewo k Sco es
C i e ia
India – BRSR
EU –
CSRD/ESRS
Sou h A ica –
JSE Guidance
C edibili y
Sco e: 2 (Poo ). Only
he op 150 i ms
equi e hi d-pa y
assu ance; he
majo i y ely on
sel - epo ed da a.
E idence o ick-box
compliance and
g eenwashing
unde mines in es o
con idence (Gup a &
Mo wani, 2022; Bi la
& Mo wani, 2025).
Sco e: 5
(Excellen ).
Manda o y
hi d-pa y
assu ance wi h
penal ies o
non-compliance;
limi ed assu ance
e ol ing owa d
easonable
assu ance.
S anda dised
digi al agging
(XBRL)
s eng hens
compa abili y and
c edibili y
(Eu opean
Commission,
2023).
Sco e: 3 (Fai ).
Volun a y
alignmen wi h
ISSB/GRI
enhances
c edibili y
somewha , bu
he absence o
s a u o y
assu ance and
weak
en o cemen
educes
us wo hiness
(Singhania &
Saina, 2021;
JSE, 2022).
Feasibili y
Sco e: 4 (Good).
Phased ollou (BRSR
Li e 2022, BRSR Co e
2023) keeps
compliance
manageable.
Poli ically easible due
o he limi ed scope
and exclusion o
SMEs. Howe e ,
audi o sho ages and
indus y pushback on
poli ical economy
cons ain expansion
(Chou asia & Pandey,
2025; Kha ola, Goyal
& Saxena, 2025).
Sco e: 3 (Fai ).
High compliance
cos s, e i ie
sho ages, and
SME bu den
educe easibili y.
EU Pa liamen
(2025) delayed
implemen a ion by
2 yea s o la ge
i ms and SMEs
(s op- he-clock
p oposal) due o
capaci y conce ns
(Eu opean
Commission,
2023; No ma i e,
2025).
Sco e: 4
(Good).
Mode a e cos s
and easible o
lis ed
companies.
Suppo ed by
JSE aining,
disclosu e
guidance, and
ca bon ma ke
se ices,
ex ension o
SMEs would
equi e
signi ican
ins i u ional
s eng hening
(UN SSE, 2024;
JSE, 2022).
Alignmen
(Global)
Sco e: 2 (Poo ). Weak
con e gence wi h
ISSB and CSRD;
di e gence in me ics
educes compa abili y
and in es o
con idence—limi ed
in e ope abili y wi h
global s anda ds
(Ma inče ić,
P imo ac & Do ić,
2024).
Sco e: 5
(Excellen ). Full
in e ope abili y
wi h ISSB and
GRI; EU seen as
se ing he global
benchma k o
ESG disclosu e
s anda ds
(Eu opean
Commission,
2023).
Sco e: 4
(Good).
Volun a y
alignmen wi h
ISSB, TCFD,
and GRI
p o ides
compa abili y
o in es o s
ac oss ma ke s,
hough he
absence o
s a u o y o ce
limi s in luence
(JSE, 2022).
