AN EMPIRICAL STUDY OF ESG REPORTING PRACTICES AND CHALLENGES: EVIDENCE FROM CHARTERED ACCOUNTANTS IN GUJARAT

Abstract

Corporate accountability extends far beyond financial metrics today. Environmental, Social, and Governance (ESG) reporting has emerged as a critical requirement for businesses globally. This study investigates the current landscape of ESG reporting practices and the associated challenges within the industrial state of Gujarat. The research focuses specifically on Chartered Accountants (CAs), who serve as the primary assurance providers and advisors for corporate disclosures. The primary objectives are to evaluate the awareness and adoption levels of ESG frameworks among these professionals and to identify the practical hurdles they face during implementation and auditing. Utilizing a quantitative research methodology, primary data was collected from a random sample of 150 Chartered Accountants practicing across various cities in Gujarat. The data analysis employs descriptive statistics and chi-square tests to draw meaningful inferences. Findings indicate a high general awareness of mandates like the Business Responsibility and Sustainability Reporting (BRSR) framework. However, practical application remains constrained. CAs struggle significantly with the lack of standardized measurement tools for social metrics, pervasive risks of greenwashing, and inadequate client data systems. The study highlights an urgent need for targeted capacity building and clearer regulatory guidelines to bridge the gap between theoretical ESG mandates and ground-level reporting realities.