The Institute of Company Secretaries of India (ICSI) is proactively involved in shaping international sustainability standards, as announced by its president, Manish Gupta. This strategic move was revealed during the inauguration of ICSI’s third centre for corporate governance, research, and training in Kolkata. This new centre, built at a cost of Rs 35 crore, is located in New Town and aims to become a focal point for education, research, and training for company secretaries and professionals in the region.
Gupta emphasised that the decision to develop international sustainability standards is in harmony with the global trend of prioritising environmental, social, and governance (ESG) reporting. The comprehensive standards currently in development will cover reporting and audit aspects. The institute plans to complete this process within approximately six months, with discussions scheduled with regulators and government bodies regarding ESG reporting.
The president drew attention to the recent mandate from the Securities and Exchange Board of India (SEBI), requiring filings under the Business Reporting and Sustainability Reporting (BRSR) framework, applicable to the top 1,000 listed companies by market capitalization from the financial year 2022-23.
Furthermore, ICSI has entered into a Memorandum of Understanding (MoU) with the West Bengal government to establish a dedicated desk supporting Micro, Small, and Medium Enterprises (MSMEs) in the state, facilitating their registration, compliance, and fundraising activities.
In another notable initiative, ICSI has decided to implement a 100% fee waiver scheme for defence personnel, Agniveers, and the families of martyrs. Gupta mentioned that an MoU with the government for this initiative will be signed soon. As self-proclaimed as the largest professional body of company secretaries globally, ICSI boasts a membership of over 1.05 lakh professionals. The institute’s efforts reflect a commitment to aligning with global standards, fostering regional development, and recognizing and supporting individuals and entities with strategic initiatives and partnerships.
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