ONGC is eyeing to become one of the first PSUs to have the stringent reporting standard to strengthen transparencies
GN Bureau | May 30, 2018
Oil and Natural Gas Corporation (ONGC) is contemplating to adopt a new reporting standard with respect to environment, social and corporate governance (ESG), which is being benchmarked on the international sustainability reporting guidelines.
With this initiative, ONGC is eyeing to become one of the first public sector enterprises to have this stringent reporting standard to strengthen transparencies in its statutory reporting norms.
The new ESG reporting is going to enhance the corporation’s credit rating to a large extent, both in the country and abroad. This rigorous reporting format also immensely increases a corporate’s capacity to raise funds from both debt and equity markets worldwide.
In this new reporting format, the three parameters of environment, social and corporate governance are extensively studied. In the environment head, factors such as energy and emissions, preservation of the ecosystem, water utilisation and waste management are covered.
ONGC plans to hire a consultant shortly to revamp its integrated reporting system to strengthen its corporate governance policy and ensure greater transparency in its business.
Director (exploration) and director incharge, HSE, ONGC, A K Dwivedi said, “Globally, the ESG Reporting system is emerging as the latest trend in integrated reporting. The system embraces sustainability factors to help identify companies with superior business model and is said to offer investors long-term performance advantages”.
Hindustan Petroleum Corporation, HDFC, Tata Steel and Tech Mahindra are among the winners and the recipients of honourable mentions in the National CSR Awards 2020 announced by the ministry of corporate affairs (MCA) on Thursday. The MCA instituted the annual National Corporate Social Respon
A good monsoon has left the trees all washed and spruced up. It’s right time to take a good look at them, and also to tell the young generation about their diversity. So, tree lovers across the country have joined hands to celebrate a festival of trees this month. The August Tree Fest
Unbounded: My Experiments with Law, Physics, Policing and Super 30 By Abhayanand Rupa Publications, 344 pages, Rs 595 Abhayanand has
India after 1947: Reflections & Recollections By Rajmohan Gandhi Aleph, 118 pages, Rs 399 Rajmohan Gandhi was about 11 when India won independence. As the nation celebrates 75 years of freedom, how would he – and others like him – feel?
The BrihanMumbai municipal corporation (BMC) has rebutted a Shiv Sena leader’s allegation of breach of protocol in the implementation of the ‘Har Ghar Tiranga’ campaign. On Friday Rahul Shewale, group leader of Shiv Sena in Lok Sabha, had accused BMC commissioner IS Chahal
Land in Mumbai city, which is surrounded by water on three sides, is scarce and has a premium. Property prices in certain areas of financial capital of the country are as much as Rs 1 lakh per sq ft. Yet, 5,800 buildings have been lying in a stalled condition for the last 18 years. Meanwhile