28/02/2019
With the enactment of the Companies Act 2013, Section 135, India became one of the first countries in the world to make Social Development and Sustainability a nation-wide agenda. The resolve of the nation to move to a Sustainable economy was further emphasised when, on 25th August 2015, India signed up for Agenda 2030, committing to implement the 17 SDGs as defined by the United Nations.
However, as Peter Drucker famously said, โIf you canโt measure it, you canโt improve itโ. As we move on this journey to become a Sustainable economy, we need the right framework to be able to measure our progress and clearly define the future path we need to take to achieve our goal. The Sustainability and Social Responsibility Maturity (SSRM) model, launched by BSE Sammaan and IICSR, creates such a framework. The framework will enable Corporates and Governments to be able to measure and get rated on the 17 SDGs. It will help in identifying areas of improvement and defining action plans to remediate the same.
Not only will this be a big step in our journey to become a Sustainable economy, it will serve as a framework for Global investors to measure Corporates on Sustainability and help in improving the transparency in the investment decision making process.