ESG Credibility Under Review: XYZ FY 2024–25

This report evaluates the ESG disclosures of ITC Limited under its FY 2024–25 BRSR framework. While the company demonstrates strong environmental reporting with assured GHG data, renewable energy integration, and multi-year trend disclosures, significant materiality concerns remain. The tobacco segment — the highest-impact business vertical — is structurally excluded from ESG materiality tables, raising credibility questions for institutional investors. The analysis highlights supply chain transparency gaps, Scope 3 opacity, and boundary inconsistencies, while outlining a clear pathway toward ESG leadership. Overall ESG Credibility Rating: Moderate