In a circular dated July 12 2023, the Securities and Exchange Board of India (SEBI) had, in clear terms, laid out its expectation for listed companies: The inclusion of their value chain partners’ Environmental, Social, and Governance (ESG) data in their Business Responsibility and Sustainability Reporting (BRSR). 

But, what does this mean for listed companies? In essence, they will need to: 

• Start capturing ESG data from their suppliers.
• Convert it into a specific format specified by the BRSR framework.
• Provide clear disclosures on any estimations or approximations used.
• Get reasonable assurance on the reported data.

The phased timeline for implementation of the proposed steps is as follows.

Simplify Sustainable Supply Chain Management with Sprih

In today’s world of globalisation, businesses are waking up to the critical role sustainability plays in protecting our environment, society, and their very own success. As a trusted partner, Sprih specialises in helping organisations navigate the complexities of supply chain sustainability.

Our innovative approach combines expert knowledge, cutting-edge technology, collaborative engagement, and proactive solutions to enable businesses to manage and reduce their supply chain emissions and make a positive impact.

In this blog, we will be diving into the key elements of our offerings and explore how they can help you build a greener, more sustainable future for your business and the world at large.

The Four Pillars for Supply Chain Sustainability:

1. Sustainability Expertise: Paving the Path to Supply Chain Success

At Sprih, our team of seasoned sustainability experts understands the complex interplay between supply chain dynamics and environmental impact. We collaborate with businesses to craft bespoke sustainability strategies that address their unique challenges and goals.

By identifying the right opportunities, we enable organisations to revolutionise their supply chains, minimising emissions while maximising sustainability performance. Our guidance enables businesses to navigate the intricacies of supply chain sustainability, paving the way for a more resilient and environmentally conscious future.

2. Technology: Streamlining Data Collection and Analysis

In today’s data-driven world, accuracy and insights are key to effective supply chain emission management. Our cutting-edge technology streamlines data collection, analysis, and management, providing a robust platform for organisations to track their sustainability performance in real-time.

With our tools, businesses can:

– Identify inefficiencies and mitigate risks

– Make data-driven decisions that promote ethical sourcing and reduced emissions

– Automate repetitive tasks, freeing up valuable time and resources

By harnessing the power of data, organisations can optimise their supply chains, improve efficiency, and drive sustainable growth. 

3. Engagement: Fostering Collaborations and Promoting Transparency

We understand that sustainability is a team effort. That’s why we’re dedicated to fostering collaboration and partnership across the supply chain. By working hand-in-hand with our clients, we create a shared vision for sustainability that resonates with every stakeholder.

Through open communication, transparency, and accountability, we build trust and empower collective action. Together, we identify and mitigate risks related to environmental, social, and ethical issues, creating a more resilient and sustainable supply chain ecosystem.

4. Action: Connecting with Ecosystem Partners and Building Trust

Taking action is crucial to effective supply chain emission management. We help our clients to connect with ecosystem partners – suppliers, customers, regulators, and more – to align sustainability efforts and drive positive change.

By proactively addressing risks associated with non-compliance and reputational damage, we safeguard our clients’ interests while contributing to a more sustainable tomorrow. Our action-oriented approach fosters trust, confidence, and credibility among stakeholders, including customers, investors, and regulators, ensuring a resilient and thriving business ecosystem.

Sprih’s Approach

Estimate & Identify

1. Automated Onboarding: Efficiently onboard vendors with minimal effort.

2. Emissions Estimation: Estimate emissions from the top 75% vendors using a spend-based model.

3. High-Emitter Identification: Pinpoint suppliers with the highest emissions in each sector.

4. Targeted Data Collection: Send a one-click survey form with a custom questionnaire to high-emitting suppliers for accurate emissions data.

Connect and Collect

1. Send targeted surveys to selected suppliers through our intuitive platform.

2. Empower suppliers to calculate their actual emissions without requiring in-house sustainability expertise.

3. Provide assistive modules for suppliers to:

• › Gain clarity on requirements
• › Track progress
• › Share data directly from the module

4. Monitor data collection progress in real-time, ensuring transparency and efficiency.

Analyze and Act

1. Uncover hidden emissions hotspots: Analyze shared data to identify high-emission areas.

2. Assess risk, ensure resilience: Conduct comprehensive risk assessments for all vendors.

3. Forge a path to net-zero: Develop a carbon reduction plan spanning all sectors.

4. Collaborate for positive change: Work closely with vendors to drive sustainable actions.

5. Track progress with ease: Monitor supply chain emissions from a single, intuitive platform.

With Sprih, transform your supply chain into a sustainable, resilient, and environmentally conscious powerhouse. Book a demo now.