A landmark report reveals that 998 of India’s top 1,000 companies filed sustainability disclosures in FY24 and most now report Scope 1 and 2 emissions, but value chain (Scope 3) reporting remains limited—highlighting the need for stronger assurance, digital monitoring, and capacity-building to drive credible climate action.
A new report by Eversource Capital, released in partnership with the Council on Energy, Environment and Water (CEEW) and the Indian Institute of Corporate Affairs (IICA), reveals a sharp rise in corporate climate accountability across India.
According to the study, 998 of the country’s top 1,000 companies filed sustainability reports in FY24, signalling deepening commitment to transparent climate action.
A significant majority—781 firms—are now reporting Scope 1 and Scope 2 emissions. However, value chain emissions (Scope 3), which often make up the bulk of a company’s climate footprint, continue to see weak disclosure, with only 268 companies reporting these figures.
Titled “Advancing Corporate Climate Action through Emissions Disclosures in India,” the report is the first comprehensive assessment benchmarking India’s disclosure ecosystem against global leaders including the EU, UK, South Korea and California. It highlights that India’s top 1,000 listed entities account for roughly 43% of the nation’s total greenhouse gas emissions, amounting to nearly 1.3 billion tonnes. Encouragingly, most of these companies now submit emissions-related data.
Four Key Levers to Strengthen India’s Disclosure Framework
The study outlines four critical interventions to improve the integrity and usefulness of emissions disclosures:
- Evidence-led expansion of reporting coverage: While top listed firms cover 43% of India’s emissions, expanding mandates to smaller listed companies would add only limited value. Bringing large unlisted corporates and financial institutions under mandatory reporting would significantly strengthen national coverage.
- Mandatory assurance for higher data quality: Variability in reporting standards persists. The report suggests replacing multiple templates with a single assurance-backed format—an enhanced BRSR Core—to improve consistency and reliability.
- Digital, real-time emissions monitoring: With India preparing for its Carbon Credit Trading Scheme (CCTS), the report calls for an integrated digital platform that links carbon market mechanisms with ESG reporting for greater transparency.
- Capacity-building for mid-sized enterprises: As global supply chains increasingly demand emissions data, India’s MSMEs must be future-ready. The report proposes a nationwide capacity-building programme, inspired by the EU’s EFRAG model, to support companies transitioning to BRSR Lite.
Industry Leaders Highlight Need for Credible Data
Dhanpal Jhaveri, CEO of Eversource Capital, said that credible emissions reporting is essential for building investor trust and unlocking green capital flows. He noted that reliable data serves as the backbone of corporate climate action.
Dr. Arunabha Ghosh, Founder and CEO of CEEW and UN Special Envoy for COP30 from South Asia, emphasised that strong disclosure systems are crucial to counter greenwashing and expand access to sustainable finance. He added that while Scope 1 and 2 reporting is improving, greater consistency and accuracy are essential for meaningful transition planning.
Gyaneshwar Kumar Singh, DG-CEO of IICA, stressed that India’s disclosure architecture is shifting from basic compliance toward credibility and impact. He highlighted the need for assured, digital-ready data systems that can inspire investor confidence and support national climate goals.
Moving Toward a High-Integrity, Digital-First Disclosure Ecosystem
With its recommendations aligned to global best practices, the report envisions a unified, robust emissions disclosure framework that enhances accountability, strengthens corporate climate leadership and positions India to attract greater sustainable investment.
The authors call for close collaboration among regulators, businesses and investors to transform emissions data into a driver of competitiveness and net-zero progress.