"Though domestic companies are adopting the practice of sustainability reporting, there is a strong emphasis on community development programmes, while the environmental and governance initiatives are taking a backseat," TCS said in a statement.

The Tata Group's cash cow TCS which tied-up with Global Reporting Initiative (GRI) to conduct the study titled 'Moving beyond disclosure: Leveraging sustainability reporting to drive change' has pointed towards this deficiency.

The study says there is an increasing level of maturity across reports and leading companies are "being spurred on by peers to cultivate a culture of transparency".

GRI's India Focal Point director Aditi Haldar said sustainability reporting presents opportunities for businesses to grow in a manner that also benefits their stakeholders.

"Sustainability reporting has been evolving as a way to communicate the value--economic, ecological and social that the company is delivering to shareholders and society," TCS Asia-Pacific president Girish Ramachandran said.

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