Persistent Systems’ BRSR Report Highlights CSR, R&D for Sustainability, and ESG Leadership
Persistent Systems’ BRSR Report Highlights CSR, R&D for Sustainability, and ESG Leadership
The BRSR issued by Persistent Systems under Section 135 of the Companies Act, 2013 would give an all-round idea of where the company is headed on its CSR, transparency in disclosures, and investments toward R&D for green spaces. It would be mainly to address CSR applicability, statutory compliance, and an ongoing commitment towards transparency.
In Section A of the report, Persistent Systems commits to Section 135 of the Companies Act, 2013, stating that the company is indeed subject to CSR. With a turnover of ?65,142.17 million and a net worth of ?47,786.51 million, this company qualified for the required criteria of CSR. The company reported that it spent 100 percent of its CSR money on education quality improvement and infrastructure development of disadvantaged sections. This empowered 25,169 individuals.
Regarding transparency and disclosure compliance, persistent systems ensure timely and honest communication with all the stakeholders. In Section VII of the BRSR, the company elaborates on different grievance redressal mechanisms against various stakeholder groups, including employees, shareholders, and communities. Apart from those details, the company shares its whistleblowing policy with anyone who would want to report suspected unethical activities. From the report, no complaint against any of these categories was pending as of fiscal year-end, suggesting that complaint resolution processes are efficient.
R&D and Environmental Sustainability: Section C of the report under Principle 2 speaks about investment in R&D and capital expenditure towards improving environmental sustainability. According to it, Persistent has allotted 1.64% of its R&D budget for FY 2023-24 to eco-friendly technologies, energy-efficient systems, and electric vehicles. The company continuously invests in new technologies, which are proven to be more environmentally friendly—for example, energy-efficient infrastructure, renewable sources of energy, etc. The company is committed to achieving 100% renewable energy by 2025.
Conclusion: The company has set the bar high in terms of corporate governance, social responsibility, and environmental sustainability. The assurance from the company to its various stakeholders regarding transparency in its operations and continued investment in technologies that benefit the environment is once again underlined in this report. Thus, the report signifies that the company is solely committed to integrating responsible business conduct with technological innovation.
Source: BRSR
Credit: Persistent Systems Limited