StepChange is proud to announce its accreditation by the Global Reporting Initiative (GRI) and the IFRS Foundation, making it the first company in the country to attain both these accreditations, further solidifying its position as a leader among sustainability reporting software solutions in India.
"Earning the GRI and IFRS certifications is a testament to our team's hard work and dedication to providing best-in-class ESG solutions. These certifications not only validate our platform's capabilities but also position us as a trusted partner for organisations looking to navigate the complex landscape of sustainability reporting,” said Ankit Jain, Co-Founder & CEO, StepChange.
GRI and IFRS accreditations signify that StepChange adheres to the highest international standards for sustainability reporting. This achievement is a testament to StepChange's commitment to providing clients with the most robust, transparent, and credible sustainability reporting services. By aligning with these global frameworks, StepChange empowers organizations to effectively measure, manage, and communicate their sustainability performance, fostering stakeholder trust and confidence.
"Sustainability software can enable far-reaching societal impact, and we are dedicated to ensuring that the tools and solutions we develop are consistent with global best practices while remaining accessible to the relevant decision-makers across India. Adopting the GRI and IFRS frameworks is a step in this direction as it helps establish a baseline of credibility and transparency in sustainability reporting,” said Dr Sidhant Pai, Co-Founder & Chief Science Officer, StepChange.
Moreover, the rigorous assessment process required for GRI and IFRS certifications significantly enhances StepChange's credibility as a solution provider. This positions StepChange as a reliable partner for enterprises aiming to navigate the evolving ESG and climate regulations landscape and pursue net-zero goals. By adhering to internationally recognized standards, StepChange demonstrates its commitment to best practices in sustainability reporting, building trust with stakeholders, including investors and regulatory bodies, and ensuring that sustainability claims are backed by verifiable data.
"Through the GRI Licensing Software and Tool Program, GRI ensures that software and tools accurately incorporate the GRI Standards, adhering to the best practice principles at the heart of the Standards themselves," said Dr Aditi Haldar, Director, GRI South Asia Network. "We are pleased that StepChange has successfully passed our licensing process and is now part of our licensing program," she added.
By adhering to the rigorous standards set by GRI and IFRS, StepChange's platform helps prevent greenwashing, which often stems from a lack of understanding or access to accurate data. By adhering to these rigorous standards, StepChange's platform mitigates the risk of misrepresentation and misinterpretation of data at a systemic level. The platform's robust data management and computational processes ensure that the data used for sustainability reporting is accurate, reliable, and comparable. This gives their clients the confidence to make informed decisions based on the reports and insights generated on the StepChange platform, driving meaningful and impactful sustainability-aligned change.
As governments and regulators increasingly emphasize sustainability, such as the SEBI's mandate for Business Responsibility and Sustainability Reporting, and the Reserve Bank of India’s (RBI) proposed guidelines for climate-related financial disclosures, organisations using the StepChange platform can easily comply with these evolving regulations.
"Adoption of the IFRS Sustainability Disclosure Standards within India's evolving sustainability ecosystem can lead to significant tangible benefits. The Standards are designed to help companies provide investors with transparent, comparable, and decision-useful information about their sustainability risks and opportunities," says Ms Caterina Rossi, Sustainability Standards Integration Manager, IFRS Foundation.
The founders at StepChange believe that sustainability is not just a reporting exercise; it's a strategic imperative. By achieving GRI and IFRS accreditations, they equip their clients to not only communicate their sustainability efforts effectively but also use them as a springboard for continuous improvement. This, in turn, fosters a more sustainable future for businesses and the planet.
StepChange is committed to being a trusted partner in our clients' sustainability journeys. These accreditations are a testament to that commitment, and they look forward to leveraging our expertise to empower businesses to create a positive impact on the world.
About StepChange:
StepChange, co-founded by MIT graduates Ankit Jain and Dr. Sidhant Pai, develops state-of-the-science enterprise sustainability tools for some of the largest enterprises in India. The StepChange platform helps enterprise clients measure, report, and improve their sustainability performance across a variety of metrics, with a particularly deep emphasis on climate metrics. With Dr. Sidhant Pai's expertise in developing climate decision-making tools and Ankit Jain's proven track record in the tech and mobility
sectors, the company is uniquely positioned to provide science-based, innovative, and scalable solutions.