FigBytes Enters India with Solutions to Simplify Sustainability Reporting
FigBytes, which makes the leading environmental, social, and governance (ESG) Insight Platform for strategy, data, reporting, and stakeholder engagement, has announced that it will expand into India. This will strengthen its market-leading position in ESG and sustainability solutions.
With this expansion, FigBytes will be able to help publicly traded companies in India comply with SEBI rules like the mandatory BRSR and many other requirements for sustainability reporting.
India is an important market for FigBytes, with enormous growth potential. Thousands of publicly traded firms in India are currently or will soon be expected to comply with several ESG reporting standards, including the Securities and Exchange Board of India's (SEBI) compulsory Business Responsibility and Sustainability report (BRSR).
FigBytes is ideally positioned to capture this growth through a combination of platform upgrades, direct investments, and partnerships by extending its award-winning sustainability platform and local expertise to ensure these publicly traded companies can meet these new BRSR reporting obligations while significantly improving their overall sustainability programmes.
SEBI has made BRSR a requirement for the top 1000 listed companies by market capitalisation starting this year. BRSR is an updated version of the Business Responsibility Report that India's largest publicly traded companies have always been required to send to stock exchanges as part of their annual report. In the new mandatory Business Responsibility and Sustainability report, there is a wider range of information about ESG and sustainability performance that some listed companies are required to include.
“Many companies today still rely on manual, time-consuming processes to identify, manage, and report on the full range of ESG and sustainability factors,” explains Ted Dhillon, co-founder and CEO, FigBytes. "Our ESG solutions help India's publicly traded companies meet their BRSR reporting requirements by automating the whole process. This takes away the heavy burden of gathering and reporting ESG data by hand."
Through the FigBytes ESG Insight Platform, organisations can get insights from their most important factors, such as carbon and water, diversity, equity, and inclusion (DEI), and governance, all while reducing their reporting burden and regulatory risk and meeting new disclosure requirements.
“The regulatory environment is rapidly changing, and FigBytes not only simplifies reporting requirements but also greatly improves overall ESG and sustainability programmes for companies in India, while also helping to ensure they can meet future reporting obligations as well,” continued Dhillon.
Learn more about FigBytes' endeavours here