ICAI receives UN Award for its contribution to Sustainability Reporting [Read Order]

ICAI - UN Award - contribution - Sustainability Reporting-TAXSCAN

The Institute of Chartered Accountants of India (ICAI) received the prestigious United Nations (UN) award for its top-ranked sustainability initiatives, including the Sustainability Reporting Standards Board. The United Nations Conference on Trade and Development (UNCTAD) honoured ICAI during the 8th World Investment Forum for its contributions to sustainability reporting. ICAI’s efforts aim to promote sustainable practices in India and align with international standards.

The Institute of Chartered Accountants of India (ICAI) for its initiative Sustainability Reporting Standards Board (SRSB) has been awarded the ISAR Honours 2023 by the UNCTAD (United Nations Conference on Trade and Development) working group on International Standards for Accounting and Reporting (ISAR). ICAI’s initiative SRSB received the highest score in this year’s ISAR HONORS session among 70 initiatives from around the world.

ICAI has also received UNCTAD ISAR Chair for the 40th session, second consecutive session and CA. (Dr.) Sanjeev Kumar Singhal, Central Council Member from ICAI chaired the UNCTAD ISAR session during the World Investment Forum being held from 16-20 October 2023 in Abu Dhabi.

ICAI’s sustainability initiatives received the highest score among 70 initiatives worldwide. They were recognized for their work through the Sustainability Reporting Standards Board (SRSB). The United Nations Conference on Trade and Development (UNCTAD) presented ICAI with the ISAR Honours 2023 for their outstanding contributions.

“We are thrilled to receive this ISAR Honours. This is a historic moment for ICAI and the entire country. Such awards will support our ambition to build a more sustainable economy for the future. ICAI is working in tandem with the regulators and institutions proactively taking all necessary steps to develop and strengthen the Sustainability Reporting framework in India,” said CA. Ranjeet Kumar Agarwal, Vice-President, ICAI.

According to the press release, ICAI has been active in enforcing sustainability guidelines with the SDGs Agenda at its core. In 2022, ICAI formed a Section 8 Company – ‘The Institute of Social Auditors of India (ISAI)’ and also issued 16 audit standards on social audits across 16 thematic focus areas, making India the first country in the world to have social impact assessment standards. ICAI is also engaging with key stakeholders and encouraging organisations to adopt a responsible, growth-oriented framework for sustainable reporting.

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