Sustainability Reporting Under GRI Standards: An Empirical Study of Indian Companies

Abstract

The accumulation of industrial waste at the global level is distressing, as the World Bank estimated in 2016 that the growth of solid waste will hit 3.4 billion tonnes by 2050. India faces similar issues related to inefficient waste management and enfeebled waste reporting practices as the Energy and Resources Institute (TERI) estimated that more than 62 million tons of industrial waste are generated annually, of which around 12 million tons are treated before disposal, 31 million tons are diverted towards landfills, and the majority is unprocessed and unaccounted for. In this response, this study analyses the waste reporting practices adopted by the top corporate social responsibilities ranked Indian companies with a motivation to align the Indian reporting pattern with the Global Reporting Initiative (GRI). The study finds inconsistent, unstandardized, and unstructured waste reporting practices when analysed under the GRI across the selected Indian companies concerning massive waste generation per turnover and earnings per share. The findings suggest the need for integrated compliance towards reporting standards to control any negative impact on the environment, as shown through waste intensity ratios. The findings have largely contributed towards understanding the anomalies between the Indian corporate reporting practices and the global reporting under GRI.