ESG Services in Mumbai | BRSR Advisory | N D Savla & Associates

ESG Advisory

ESG Services
Comprehensive Environmental, Social & Governance Advisory for Indian Businesses

ESG materiality assessment, gap analysis against BRSR, GRI and ISSB, ESG data system design, accounting, report preparation, and assurance coordination — the full ESG lifecycle handled with the rigour of a chartered accountancy firm.

Part of our ESG practice: ESG Accounting ESG Audit ESG Reporting Frameworks ESG Assurance & Certification

Overview

What Are ESG Services and Why Do Indian Companies Need Them Now?

Environmental, Social, and Governance considerations have moved from the margins of corporate reporting to the centre of business strategy in India. What was once a voluntary initiative adopted by a handful of progressive companies has become a regulatory mandate for the country's largest listed entities and a competitive necessity for any business that seeks to attract institutional capital, retain talent, or maintain its social licence to operate. ESG is no longer a branding exercise — it is a compliance obligation, an investor expectation, and a risk management imperative.

N D Savla & Associates provides a comprehensive suite of ESG services designed to help Indian businesses navigate this rapidly evolving landscape. Our practice covers the full ESG lifecycle — from initial gap analysis and materiality assessment, through ESG accounting system setup and data collection, to ESG audit and assurance, and finally to structured reporting under ESG reporting frameworks such as BRSR, GRI, and ISSB Standards. We bring the financial rigour and audit discipline of a chartered accountancy firm to a domain that has historically been dominated by management consultants and sustainability boutiques.

Our approach is practical and compliance-first. We do not produce glossy sustainability brochures that look impressive but fail to meet regulatory requirements. Every ESG engagement we undertake is grounded in the specific disclosure requirements applicable to the client — whether that is SEBI's BRSR mandate for listed companies, lender ESG covenants for privately held businesses, or global reporting standards for companies with international investor bases.

ESG services encompass the professional advisory, accounting, audit, and reporting support that companies need to measure, manage, and communicate their environmental, social, and governance performance. In the Indian context, the demand for ESG services has accelerated dramatically over the past three years, driven by three converging forces — regulatory mandates, investor pressure, and supply chain requirements.

First — Regulatory Mandates

SEBI introduced the Business Responsibility and Sustainability Report format in 2021 and made it mandatory for the top 1000 listed companies by market capitalisation from FY 2022-23 onwards. The BRSR requires detailed disclosures across nine principles — from environmental sustainability and product lifecycle responsibility to stakeholder engagement and corporate governance. Starting from FY 2023-24, the top 150 listed companies are also required to obtain reasonable assurance on select BRSR Core parameters, bringing ESG disclosures under the same level of scrutiny as financial reporting.

Second — Investor Pressure

Global institutional investors — pension funds, sovereign wealth funds, and ESG-focused asset managers — now routinely screen investments based on ESG scores. Indian companies seeking foreign portfolio investment, private equity funding, or access to green bonds must demonstrate credible ESG performance. The Securities and Exchange Board of India has been progressively aligning India's sustainability disclosure framework with global standards to facilitate cross-border capital flows.

Third — Supply Chain Requirements

Multinational companies are increasingly extending ESG compliance requirements to their supply chains, including Indian suppliers and vendors. European Union regulations such as the Corporate Sustainability Due Diligence Directive require companies to assess and address ESG risks across their entire value chain. Indian businesses that supply goods or services to European or American companies are finding that ESG compliance is becoming a prerequisite for maintaining commercial relationships.

Who It Applies To

Who Needs ESG Services in India?

ESG compliance and reporting touch companies across the entire spectrum — from the largest listed conglomerates to mid-sized manufacturers embedded in global supply chains.

Listed Companies Subject to SEBI BRSR Mandate

The top 1000 listed companies by market capitalisation are required to file the BRSR as part of their annual reports. These companies need comprehensive ESG services — from data collection systems that capture environmental metrics (energy consumption, water usage, waste generation, greenhouse gas emissions) and social indicators (workforce diversity, safety incidents, community engagement) to governance disclosures (board composition, ethics policies, anti-corruption measures). Our firm assists listed companies with end-to-end BRSR preparation and provides ESG assurance and certification services for companies subject to the reasonable assurance requirement.

Companies with International Investors or Lenders

Privately held companies that have received investment from global private equity funds, development finance institutions, or international banks often face ESG reporting requirements as part of their investment agreements or loan covenants. These requirements may reference GRI Standards, ISSB Standards, or bespoke ESG frameworks specified by the investor. Our firm helps companies understand and comply with investor-specific ESG requirements while building internal capabilities for ongoing reporting.

Export-Oriented Manufacturers and Service Providers

Indian companies that export goods or services to the European Union, United States, or other regulated markets face increasing ESG due diligence requirements from their customers. The EU's Corporate Sustainability Reporting Directive and the Carbon Border Adjustment Mechanism are creating new compliance obligations for Indian exporters. Companies that cannot demonstrate adequate ESG performance risk losing market access. Our firm assists exporters in building ESG compliance frameworks that satisfy customer requirements and regulatory expectations.

Companies Seeking ESG Ratings and Green Finance

Companies pursuing green bonds, sustainability-linked loans, or improved ESG ratings from agencies such as MSCI, Sustainalytics, or CRISIL need accurate and comprehensive ESG data. Our team helps companies prepare for ESG rating assessments, identify areas for improvement, and implement changes that meaningfully improve their scores. We also advise on the regulatory landscape governing sustainable finance in India.

Regulatory Evolution

How Has ESG Regulation Evolved in India?

Early CSR Mandates (2013–2020)

India was one of the first countries in the world to mandate corporate social responsibility spending through Section 135 of the Companies Act, 2013. Companies meeting certain turnover, net worth, or profit thresholds were required to spend at least two per cent of their average net profits on CSR activities. However, CSR under the Companies Act was primarily about spending — it did not require systematic measurement and reporting of environmental and social performance across the company's operations. The National Voluntary Guidelines on Social, Environmental, and Economic Responsibilities of Business, issued by the Ministry of Corporate Affairs in 2011, provided a framework for broader responsibility reporting, but compliance was voluntary and inconsistent.

The SEBI BRR to BRSR Transition (2020–2022)

In 2012, SEBI introduced the Business Responsibility Report for the top 100 listed companies, later extended to the top 500. The BRR was a relatively simple questionnaire-based format that required limited quantitative disclosures. Recognising the need for a more rigorous framework, SEBI introduced the Business Responsibility and Sustainability Report in May 2021 through SEBI circular SEBI/HO/CFD/CMD-2/P/CIR/2021/562. The BRSR represented a quantum leap in disclosure requirements — moving from qualitative descriptions to quantitative, comparable, and auditable data across environmental, social, and governance parameters.

The Assurance Mandate (2023 Onwards)

From FY 2023-24, SEBI mandated that the top 150 listed companies obtain reasonable assurance from independent practitioners on select BRSR Core parameters. This requirement is being phased in — expanding to the top 250 companies and eventually to all companies subject to the BRSR mandate. The assurance requirement transforms ESG reporting from a disclosure exercise into an audited compliance obligation, bringing it closer to the rigour of financial reporting. Our firm's audit and assurance practice provides the foundation for our ESG assurance capabilities.

Global Convergence and Future Trajectory

India's ESG framework is progressively aligning with global standards. The ISSB Standards — issued by the International Sustainability Standards Board under the IFRS Foundation — provide a global baseline for sustainability disclosures. SEBI has indicated its intention to incorporate ISSB concepts into the Indian framework. The Reserve Bank of India has also issued guidance on climate risk management for banks and financial institutions. The trajectory is clear: ESG compliance in India will become more comprehensive, more quantitative, and more rigorously audited over the coming years.

Our Process

What Is the Step-by-Step Process for Implementing ESG Services?

Implementing an effective ESG programme requires a structured approach that builds internal capabilities for sustained compliance, not just one-time reporting.

ESG Materiality Assessment

The process begins with identifying which ESG topics are most material to the company — that is, which topics have the greatest impact on the company's business and are most important to its stakeholders. This assessment considers industry-specific risks, regulatory requirements, investor expectations, and the company's own strategic priorities. The materiality assessment determines the scope and focus of subsequent ESG activities.

Gap Analysis Against Applicable Frameworks

Our team conducts a detailed gap analysis comparing the company's current ESG practices and disclosures against the applicable framework — BRSR, GRI, ISSB, or investor-specific requirements. The gap analysis identifies areas where data is missing, processes are inadequate, or disclosures do not meet the required standard.
BRSR · GRI · ISSB

ESG Data Collection System Design

Based on the gap analysis, we help the company design and implement data collection systems that capture the required environmental, social, and governance metrics. This may involve integrating ESG data points into existing ERP systems, establishing new measurement protocols for emissions and waste, designing employee surveys for social metrics, and creating governance tracking mechanisms.

Data Collection and Validation

The company collects ESG data across all identified parameters for the reporting period. Our team validates the data for accuracy, completeness, and consistency — checking for measurement errors, data gaps, and inconsistencies across business units or time periods.

ESG Accounting and Record-Keeping

The validated data is recorded in the company's ESG accounting system using consistent methodologies and assumptions. Environmental metrics are calculated using recognised standards — such as the GHG Protocol for greenhouse gas emissions — and documented with clear audit trails. Our ESG accounting service covers this stage end to end.
GHG Protocol

Report Preparation and Review

Our team prepares the ESG report in the required format — BRSR for listed companies, GRI Standards report for companies with international stakeholders, or a custom format as specified by investors. The report undergoes internal review for accuracy, completeness, and compliance with the applicable framework.

Assurance and Certification

For companies subject to the SEBI assurance mandate or those seeking voluntary assurance, we coordinate the ESG audit and assurance process. The assurance provider conducts an independent examination of the ESG data, processes, and disclosures to provide a reasonable or limited assurance opinion.

Board Presentation and Filing

The final ESG report is presented to the board of directors for approval and included in the annual report. For listed companies, the BRSR is filed with the stock exchanges as part of the annual report submission. The report is also made available to investors, rating agencies, and other stakeholders.

ImportantSEBI's BRSR assurance mandate is being expanded progressively. Companies in the top 250 by market capitalisation should begin preparing for reasonable assurance requirements now, even if they are not yet subject to the mandate. Building robust ESG data systems takes time, and early preparation avoids last-minute compliance pressure.

Sector Application

How Do ESG Services Apply Across Different Industries?

Manufacturing and Heavy Industry

Manufacturing companies face significant ESG challenges across all three pillars. Environmental concerns include energy consumption, greenhouse gas emissions, water usage, waste generation, and pollution. Social issues include worker health and safety, labour practices, and community impact. Governance considerations include supply chain ethics, anti-corruption measures, and board oversight. Our firm provides tailored ESG advisory for manufacturers, integrating ESG data collection with existing operational reporting systems and coordinating with our internal audit practice to embed ESG controls into the company's internal audit framework.

Information Technology and Services

IT companies have relatively lower environmental impact compared to manufacturing but face significant social and governance ESG factors — workforce diversity and inclusion, data privacy and security, ethical AI practices, and supply chain responsibility for hardware procurement. ESG reporting for IT companies requires capturing metrics such as Scope 2 emissions from data centres, diversity statistics across employment levels, training and development hours, and governance structures for data ethics.

Banking, Financial Services, and Insurance

Financial institutions face unique ESG challenges related to their lending and investment portfolios. The concept of financed emissions — greenhouse gas emissions attributable to the loans and investments a bank holds — is becoming a key ESG metric. The RBI has issued guidance on climate risk assessment for banks. Insurance companies face both transition risks (shifting market conditions) and physical risks (climate-related claims). Our firm assists financial institutions with ESG accounting for their portfolios and compliance with RBI and SEBI sustainability requirements.

Real Estate and Infrastructure

Real estate companies face ESG scrutiny on green building practices, energy efficiency, water conservation, waste management, and community impact of their developments. RERA compliance intersects with ESG in areas such as project transparency and consumer protection. Infrastructure companies face additional environmental compliance requirements related to environmental impact assessments and clearances. Our firm coordinates ESG advisory with our broader corporate governance and regulatory compliance capabilities to provide integrated support.

Why Our Firm

Why Should You Choose N D Savla & Associates for ESG Services?

Financial Rigour Applied to ESG Data

Unlike management consultancies that approach ESG from a strategy perspective, we approach it from a financial reporting and audit perspective. Every ESG data point we handle is treated with the same rigour as a financial statement line item — documented, validated, and audit-ready. This matters because ESG data is increasingly subject to the same level of assurance scrutiny as financial data.

Regulatory Expertise Across SEBI, MCA, and RBI

ESG compliance in India sits at the intersection of multiple regulatory frameworks — SEBI's BRSR mandate, the Companies Act CSR requirements, RBI climate risk guidelines, and sector-specific environmental regulations. Our firm understands all of these frameworks and their interconnections. We also monitor the evolving regulatory landscape to ensure that our clients are prepared for upcoming requirements before they take effect.

End-to-End Service from Accounting to Assurance

We cover the entire ESG lifecycle within a single firm — gap analysis, data system design, accounting, report preparation, and assurance. This integrated approach eliminates the coordination risks that arise when different firms handle different parts of the ESG process. Our role of professionals in ESG practice defines how chartered accountants contribute at each stage of the ESG compliance process.

Scalable Approach for Companies of All Sizes

Whether you are a top 100 listed company with complex, multi-site ESG reporting requirements or a mid-sized manufacturer preparing your first sustainability disclosure for an export customer, our ESG services are scaled to match your needs and budget. We do not apply one-size-fits-all solutions — we design engagement scopes that address your specific regulatory obligations and stakeholder expectations.

Broader Practice

Our Broader ESG and Assurance Services

ESG services sit inside a wider compliance and assurance map. Our complete practice covers:

ESG AccountingSustainability data systems, GHG accounting, and internal controls over ESG data.

ESG AuditBRSR Core reasonable assurance under ISAE 3000 (Revised) and ISAE 3410.

ESG Reporting FrameworksBRSR, GRI, ISSB, TCFD and SASB implementation and multi-framework reporting.

ESG Assurance & CertificationIndependent verification and certification of sustainability disclosures.

Regulatory LandscapeSEBI, MCA and RBI sustainability developments tracked ahead of deadlines.

Corporate GovernanceBoard composition, ethics frameworks and governance disclosure advisory.

Internal AuditEmbedding ESG controls into the internal audit framework.

Role of Professionals in ESGHow chartered accountants contribute at each stage of the ESG cycle.

Frequently Asked Questions

Frequently Asked Questions About ESG Services

What are ESG services and why are they important for Indian businesses?

ESG services encompass advisory, accounting, audit, and reporting support related to a company's Environmental, Social, and Governance performance. In India, ESG has moved from a voluntary corporate responsibility initiative to a regulatory requirement — SEBI mandates Business Responsibility and Sustainability Reporting for the top 1000 listed companies by market capitalisation. ESG services help companies measure, report, and improve their sustainability performance to meet regulatory obligations, attract responsible investors, and manage reputational risk.

Which companies in India are required to file ESG or sustainability reports?

SEBI's BRSR mandate currently applies to the top 1000 listed companies by market capitalisation. These companies must file the BRSR as part of their annual reports. Additionally, from 2023-24, the top 150 listed companies are required to obtain reasonable assurance on select BRSR Core disclosures. SEBI has indicated a phased expansion of both the reporting and assurance requirements to a broader set of listed companies and eventually to their value chains. Our ESG Audit page covers the assurance requirement in detail.

What is the difference between ESG accounting, ESG audit, and ESG reporting?

ESG accounting involves identifying, measuring, and recording environmental, social, and governance data in a company's information systems. ESG audit is the independent examination and verification of ESG data, disclosures, and processes to provide assurance on their accuracy and completeness. ESG reporting is the structured presentation of ESG information to stakeholders through formats such as BRSR, GRI Standards, or integrated reports. All three are interconnected — reliable reporting depends on accurate accounting, and both are validated through audit. See our ESG Accounting page for the measurement stage.

What ESG reporting frameworks are applicable in India?

Indian companies primarily use the Business Responsibility and Sustainability Report format mandated by SEBI for listed entities. Globally recognised frameworks include the Global Reporting Initiative Standards, the Task Force on Climate-related Financial Disclosures recommendations, the International Sustainability Standards Board standards, the Sustainability Accounting Standards Board standards, and the UN Sustainable Development Goals framework. Many Indian companies adopt a combination of BRSR for regulatory compliance and GRI or ISSB for global investor communication. Our ESG Reporting Frameworks page compares each framework.

How can N D Savla and Associates help with ESG compliance?

N D Savla and Associates provides end-to-end ESG services including ESG accounting system setup, data collection and measurement, BRSR preparation, ESG audit and assurance, reporting framework implementation, gap analysis against global standards, and advisory on improving ESG scores. Our chartered accountants bring financial rigor to ESG data, ensuring that disclosures are accurate, complete, and aligned with both Indian regulatory requirements and global best practices.

Practitioner tipThe most common mistake companies make with ESG is treating it as a one-time annual exercise rather than an ongoing operational process. Building ESG data collection into your regular management information systems from the outset makes annual reporting far more efficient and accurate than scrambling to collect data at year-end. Start with your most material ESG topics and expand coverage progressively.

Need expert ESG services support?

Talk to our ESG team — materiality assessment, BRSR preparation, data system design, accounting, audit and assurance under one roof.

Book a Consultation

Phone: +91 9821 83 26 83 | WhatsApp: +91 9819 000 511
Email: nainitsavla@savlagroup.in | N D Savla & Associates, Chartered Accountants, Mumbai

ESG ServicesComprehensive Environmental, Social & Governance Advisory for Indian Businesses