Prashanth Joseph, Head of ESG Impact Grows
15th December 2023
Manappuram Finance Limited, a prominent Non-Banking Financial Company (NBFC) listed among India's top 500 companies, had to submit a comprehensive Business Responsibility and Sustainability Reporting (BRSR) for the fiscal year 2022-2023, in accordance with SEBI's regulations for listed companies. As an institution that has been actively engaged in Business Responsibility Reporting (BRR) in prior years, the transition to BRSR represented a significant step towards embracing a more intricate and data-intensive reporting process. Manappuram Finance was keen to demonstrate a strong commitment to Environmental, Social, and Governance (ESG) considerations, which fueled its determination to publish an extensive BRSR report, even though it was the first time the firm was going to do it.
To navigate the challenges of BRSR reporting and ensure a seamless transition, Manappuram Finance partnered with BillionLives, a firm specialising in ESG consulting and technology solutions. Billionlives provided consulting expertise, enabled by its in-house ESG software platform, Impact Grows. The platform helps companies streamline their ESG management needs and generate sustainability reports on various global frameworks, including BRSR.
The Impact Grows platform empowers companies to bolster their sustainability performance by offering a range of functionalities, including:
Recognizing the complexities associated with BRSR reporting, BillionLives took a hands-on approach to guide Manappuram Finance through the process. The collaboration followed a comprehensive methodology, detailed below:
Manappuram Finance's journey towards BRSR reporting was characterised by significant challenges in terms of adapting to new data requirements and setting up effective data collection processes. However, with strong collaboration from stakeholders within the organisation and the expertise of the BillionLives team, these challenges were successfully navigated. The implementation of the Impact Grows software platform not only eased the report generation process, but also ensured data accuracy and alignment with BRSR disclosure requirements. This collaborative effort resulted in the creation of a detailed and comprehensive BRSR report, marking a significant achievement for Manappuram Finance Limited in its commitment to ESG considerations and responsible business practices.