Sustainable Finance, Green Accounting, and ESG Reporting, Integrated Reporting and Corporate Governance in Emerging India

Abstract

This paper explores the development of sustainable finance in India, with a focus on green accounting, ESG reporting, and integrated reporting within the broader framework of corporate governance. To explore these themes, we used secondary sources such as regulatory policies, reporting frameworks, and academic literature. Particular attention is given to the Business Responsibility and Sustainability Reporting (BRSR) framework introduced by SEBI  and its role in formalizing ESG disclosures among listed companies. (Singh & Sharma, 2024, p. 7) What we found is that regulatory pressure and rising investor awareness have pushed Indian firms toward greater ESG adoption — a shift that appears real and not just on paper. However, challenges remain in effectively integrating green accounting into traditional financial systems, establishing consistent methods for measuring environmental costs, and ensuring active involvement of corporate boards in sustainability matters (Sharma & Kumar, 2023). This study is limited to policy analysis and does not use firm-level data. Even so, it shows how the regulatory environment is changing in emerging economies like India. More than anything, it shows that better institutional structures and standardized sustainability accounting are needed to improve governance outcomes.