Sustainability Report in Order to Improve Energy Efficiency in Indian Industry

Abstract

In this context, the objective of this study is to contribute to the debate on how we can promote the installation of renewable energy systems in companies. To this end, this study focuses on the sustainability reporting of Indian companies, specifically. Their energy disclosure in order to improve energy efficiency and self-auto sufficiency. A content analysis of the sustainability reports and some statistical tests were conducted to better understand what Indian companies disclose about energy and whether there is a relationship between the disclosed information. The findings led to the conclusion that out of the sample analyzed, 10% do not disclose any energy information. The most reported information refers to “Energy Disclosing company's energy policies” and “Conservation of energy in the conduct of business operations”. And that when companies disclose “Energy consumption outside of the organization” they also disclose their “Energy consumption within the organization”. The same with “Reductions in energy requirements of products and services” and “Reduction of energy consumption”. In other words, there is a correlation between the disclosure of these topics. Most reports let companies prefer to use solar energy (70%). The electricity price can also be an important variable in this role. This shows that most Indian companies are concerned about reporting information on their energy management, but there is still a lack of information and a long way to go to achieve excellence in energy efficiency. The importance of government policymaker’s promoting clean energy and fulfilling the demands of electricity in all sectors will fuel long-term economic growth. It is important that legislative changes remove obstacles and boost the adoption of renewable energy in the future. So, this study can therefore be a practical contribution to this debate.