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TERRA Score™ — Demo Scorecards | Earth5R
INSTITUTIONAL ESG INTELLIGENCE

TERRA Score

India's first ESG intelligence framework built on field-verified ground reality. 1,200+ scored Indian listed companies. 91-column scoring framework. Calibrated against 2.4 billion geo-tagged data points across 150+ Indian cities.

United Nations Recognised · Google Top 15 for Sustainability · UNESCO India Technology for Impact Case Study
DEMO PREVIEW
Four illustrative scorecards across narrative archetypes. Full institutional scorecards are 40 to 50 pages and include peer benchmarking, asset-level geographic risk, financial overlay, regulatory dossier, and scenario analysis.
INSTITUTIONAL ESG SCORECARD · DEMO PREVIEW
Sector position: #2 of 90

Infosys Limited

IT Services · ITS · BSE: 500209 · NSE: INFY
68.8/100
TERRA Score · Above Average
Sector range 29.4 to 70.2 (median 49.0) across 90 IT Services companies in our coverage
68.8 SCORE
TRAJECTORY
58.4
20% weight
ENVIRONMENTAL REALITY
78.8
28% weight
RESILIENCE AND SYSTEMS
68.6
18% weight
REACH AND COMMUNITY
59.3
22% weight
ACCOUNTABILITY
80.8
12% weight
Reporting period: FY2025 (01 April 2024 to 31 March 2025)
Methodology: TERRA Methodology v2.1, calibrated against 1,207 scored Indian listed companies
DEMO SCORECARD · NOT FOR REDISTRIBUTION · ILLUSTRATIVE PURPOSES

Executive Intelligence Brief

TERRA SIGNAL
CvR Aligned · Mode 10 Process-Constrained Honesty
Sector rank #2 of 90 · Trajectory +15.9 over 3 years · 2 anti-gaming flags
POSITION THESIS

Infosys is the cleanest case in India's ITS sector: a TERRA Score of 68.8 just below sector top, CvR at 0.00 with Mode 10 Process-Constrained Honesty, and Accountability at 80.8 the highest in our coverage of 90 IT Services companies. The 16-point trajectory gain over three years is genuine — driven by renewable share moving from 47.9% to 68.9% and the introduction of reasonable assurance on 46 ESG disclosures in FY24 sustained into FY25. The single material concern is rising absolute GHG emissions (+22% YoY) driven by global data centre expansion, which compresses the otherwise-clean trajectory signal. SBTi validation and absolute-emissions reversal are the two catalysts to take the score above 75 and into the Leader band. For ESG-tilted mandates, the directional view is sector top — long-term hold candidate.

TOP ALIGNED CLAIMS
  • Reasonable assurance on 46 ESG disclosures (sector-leading scope)
  • Renewable share at 68.9% — among India's ITS sector leaders
  • Zero employee or worker fatalities sustained across 3.48 lakh workforce
  • CSR vulnerability segmentation visible across ST/SC/BPL beneficiaries
TOP DIVERGENT CLAIMS
  • GHG emissions increased +22% YoY on growing data centre energy demand
  • Net zero pathway announced without SBTi validation
  • Water recycling stuck at 18% — well below stated commitment trajectory
  • Scope 3 inventory present but not assured at limited tier
Revenue (FY25)
Rs 1,62,990 Cr
Employees
3,48,596
Plants / Sites
15
Renewable share
68.9%
Fatalities (FY25)
1 employee, 0 worker
Women employees
37.7%

Operational footprint at a glance

Underlying disclosed data that anchors the TERRA Score. All values from FY25 BRSR filing.

SCOPE 1 EMISSIONS
8,745 tCO2e
Direct operational
SCOPE 2 EMISSIONS
38,586 tCO2e
Purchased energy
SCOPE 3 EMISSIONS
1,79,370 tCO2e
Value chain
RENEWABLE SHARE
68.9%
of total energy
WATER WITHDRAWAL
20,85,580 KL
FY25
FATALITIES (FY25)
1 employee, 0 worker
Employee + worker
WOMEN WORKFORCE
37.7%
Wage parity 29.06%
REVENUE (FY25)
Rs 1,62,990 Cr
3,48,596 employees
NET ZERO TARGET
Not yet declared
SBTi: Not committed
CSR SPEND (FY25)
Rs 28.7 Cr
FY25

Five-Dimension Score Architecture

Each dimension contains 4 to 10 sub-indicators scored on a 0 to 100 scale and aggregated using sector-specific weights. Bar colour ramp: green (above 70), teal (55 to 69), amber (40 to 54), coral (25 to 39), red (below 25).

TrajectoryEnvironmentalResilienceReachAccountability
Five-dimension shape — FY2025

Trajectory

20% of TERRA Score · 4 sub-indicators
58.4
↑ 17.9 from FY23
3-Year Rolling Improvement T1
72
Pledge-to-Progress Delivery T2
46
Restatement Penalty T3
59
Net Zero / SBTi Alignment T4
56

Environmental Reality

28% of TERRA Score · 10 sub-indicators
78.8
↑ 29.8 from FY23
GHG Intensity E1
94
Water Stress-Adjusted Use E2
79
Waste Circularity E3
97
Biodiversity Footprint E4
42
Energy Intensity E5
86
Air Pollution Disclosure E6
62
Renewable Energy Share E7
85
Hazardous Waste Management E8
59
Water Recycling Rate E9
18
Environmental Compliance E10
81

Resilience and Systems

18% of TERRA Score · 6 sub-indicators
68.6
↑ 7.8 from FY23
Supply Chain ESG Cascade R1.1
41
Physical Climate Risk R1.2
67
Systemic Sector Leverage R1.3
72
Business Continuity R1.4
77
Transition Risk Roadmap R1.5
54
ESG Data Infrastructure R1.6
80

Reach and Community

22% of TERRA Score · 8 sub-indicators
59.3
↓ 2.0 from FY23
Vulnerability Depth Index R2.1
73
Community-Verified Impact R2.2
47
Geographic Reach Depth R2.3
53
Financial Inclusion R2.4
52
Worker Welfare R2.5
64
Gender Equity R2.6
52
Human Rights Due Diligence R2.7
66
Workforce Safety R2.8
69

Accountability

12% of TERRA Score · 6 sub-indicators
80.8
↑ 25.2 from FY23
CvR Gap (Claim vs Reality) A1
97
ESG Governance Depth A2
59
Regulatory Compliance A3
79
Disclosure Quality A4
80
Stakeholder Engagement A5
80
Tax Transparency A6
70

Where does this company sit in its sector

Six closest peers by TERRA Score in IT Services, with full dimension breakdown. All 90 IT Services companies in our coverage.

SCORE DISTRIBUTION ACROSS 90 ITS COMPANIES
253545556575 median 49.0 68.8
Infosys Limited (TERRA 68.8) sits at the 97th percentile of IT Services. Sector median is 49.0, range 29.4 to 70.2.
Company TERRA Trajectory Environmental Resilience Reach Accountability CvR Ren % Fatalities
Persistent Systems 70.2 66.6 79.5 71.9 56.6 77.0 0.00 57.0% 0
Infosys ← scored 68.8 58.4 78.8 68.6 59.3 80.8 0.00 68.9% 1
HCL Technologies 65.9 62.2 66.8 71.9 57.1 77.3 0.04 34.4% 0
LTIMindtree 64.2 42.7 77.1 66.6 56.0 81.5 0.00 56.8% 0
TCS 62.6 49.2 62.3 69.7 62.6 75.1 0.00 79.2% 0
Tech Mahindra 62.8 40.2 68.8 70.0 61.3 78.8 0.03 22.6% 0
VS SECTOR MEDIAN — DIMENSION-LEVEL
Trajectory
58.4 vs 35.5 +22.9
Environmental Reality
78.8 vs 58.2 +20.6
Resilience and Systems
68.6 vs 60.4 +8.2
Reach and Community
59.3 vs 51.8 +7.5
Accountability
80.8 vs 71.5 +9.3
PEER RADAR — SCORED COMPANY VS SECTOR TOP VS SECTOR MEDIAN
TrajectoryEnvironmentalResilienceReachAccountability Infosys Sector top — Persistent Systems Sector median (90 companies)

CvR Gap — Claim Versus Reality

CvR Gap quantifies the divergence between narrative ESG claims and quantitative data on a 0.00 to 1.00 scale, then classifies the pattern into one of 15 modes.

CvR SCORE
0.00
Aligned band
CvR MODE CLASSIFICATION
Mode 10
Process-Constrained Honesty
Top aligned claim
Reasonable assurance on 46 ESG disclosures
Top divergent claim
GHG emissions increased +22% YoY

Anti-Gaming Audit · 13 Checks

Each TERRA scorecard runs 13 anti-gaming checks designed to detect common ESG disclosure manipulation patterns. Triggered checks materially adjust dimension scores and CvR Gap classification.

2
checks triggered out of 13 — low concern
01
Absolute vs Percentage
02
Blanket Vulnerability
03
Safety Parity
04
Contract Worker Ratio
05
Scope 3 Materiality
06
Offset Blending
07
Restatement Cluster
08
Pledge Inflation
09
Selective Assurance
10
Geographic Cherry-Pick
11
Time Horizon Stretch
12
Beneficiary Double-Count
13
Materiality Drift

3-Year Trajectory Analysis

FY23 to FY25 progression at score and dimension level. Direction is classified as Improving (above +2 over 3 years), Declining (below -2), or Mixed.

3-YEAR DELTA
+15.9
Trajectory: Improving
TERRA SCORE PROGRESSION
52.9
FY23
63.2
FY24
68.8
FY25
FY23 → FY25 DIMENSION TRAJECTORIES
80 70 60 50 40 30 FY23 FY24 FY25 T 58.4 E 78.8 R1 68.6 R2 59.3 A 80.8

Top 5 Forward-Looking Risks

Risks ranked by materiality and time horizon. Each risk maps to specific scorecard sub-indicators.

# Risk description Time horizon Materiality Affects
1 SBTi validation absence becomes ESG fund screening exclusion 12 to 18 months Medium T4, A1
2 GHG emissions trending upward (+22% YoY) on growing energy demand 24 months Medium T1, E1
3 Scope 3 supply chain disclosure depth thin against IT peers 12 to 24 months Medium E1, R1.1
4 Water recycling rate stuck below 20% across data centre footprint 24 to 36 months Low E9, R1.2
5 Climate risk asset-level mapping incomplete for global delivery centres 36 months Low R1.2

Top 5 Uplift Actions

Actions ranked by score impact and implementation cost. Cumulative impact reflects what is achievable over a 12 to 18 month horizon if all five actions are delivered.

# Uplift action Score impact Time to deliver
1 Validate net zero pathway with SBTi and publish near-term science-based targets +6 to +10 on T4
+1.2 to +2.0 on TERRA
9 to 12 months
2 Reverse YoY GHG trajectory through accelerated renewable PPA scale-up +8 to +12 on T1, E7
+1.5 to +2.5 on TERRA
12 to 18 months
3 Deepen Scope 3 supplier engagement with Tier-2 ESG cascade and assurance +10 to +15 on R1.1
+1.0 to +1.5 on TERRA
12 to 18 months
4 Publish facility-level water recycling roadmap with WRI Aqueduct overlay +5 to +8 on E9, E2
+0.6 to +1.0 on TERRA
6 to 12 months
5 Expand reasonable assurance scope to Scope 3 emissions and biodiversity disclosures +4 to +6 on A1, A4
+0.4 to +0.7 on TERRA
6 to 9 months

What the scorecard implies for valuation

How the disclosed data should map into ESG-screened pricing decisions. Each rationale anchors to specific scorecard sub-indicators.

PRICING SIGNAL
Long-term hold — quality premium justified
Quality premium
TERRA 68.8 sits #2 of 90 in IT Services. The 16-point 3-year improvement is genuine, not disclosure inflation. Justifies a sustained ESG quality premium in valuation multiples.
Mode 10 reliability
CvR Mode 10 (Process-Constrained Honesty) is the rarest and most reliable CvR pattern: company underclaims rather than overclaims. Reduces forward disclosure-shock risk to near zero.
Engagement upside
SBTi validation alone is worth +6 to +10 score points and would push TERRA above 75 (Leader band entry). Catalysts visible within 12 months. Re-rate trigger is technical, not structural.
Single material risk
GHG +22% YoY is the only sustained negative trajectory signal. Tied to global data centre expansion — manageable through PPA scale-up but tracks against revenue growth. Watch absolute Scope 1+2 trend.

Top 5 material issues — financial, ESG, management readiness

Material issue Financial impact ESG impact Mgmt readiness
SBTi validation absence High High Low
Absolute GHG growth Medium High Medium
Scope 3 supplier depth Medium Medium Medium
Water recycling rate Low Medium High
Climate adaptation mapping Low Low Medium
INSTITUTIONAL ESG SCORECARD · DEMO PREVIEW
Sector position: #1 of 2 (pure-play water)

VA Tech Wabag Limited

Water Management & Utilities · WTR · BSE: 533269 · NSE: WABAG
52.3/100
TERRA Score · Average
Sector range 32.8 to 64.1 (median 48.5) across 2 Water Management & Utilities companies in our coverage
52.3 SCORE
TRAJECTORY
32.3
20% weight
ENVIRONMENTAL REALITY
61.1
28% weight
RESILIENCE AND SYSTEMS
57.1
18% weight
REACH AND COMMUNITY
48.3
22% weight
ACCOUNTABILITY
64.9
12% weight
Reporting period: FY2025 (01 April 2024 to 31 March 2025)
Methodology: TERRA Methodology v2.1, calibrated against 1,207 scored Indian listed companies
DEMO SCORECARD · NOT FOR REDISTRIBUTION · ILLUSTRATIVE PURPOSES

Executive Intelligence Brief

TERRA SIGNAL
CvR Aligned · Mode 11 Transition-in-Progress
Sector rank #1 of 2 · Trajectory -6.5 over 3 years · 1 anti-gaming flag triggered FY25
POSITION THESIS

VA Tech Wabag is India's listed pure-play water utility leader, but the FY25 scorecard registers a material regression. TERRA dropped 6.5 points over three years (58.8 to 52.3), the trajectory dimension collapsed from 48.8 to 32.3, and the renewable share fell from 72.5% (FY24) to 8.9% (FY25) — the latter likely a restatement that has not been independently reconciled. Two worker fatalities against zero employee fatalities triggered the Safety Parity flag for the first time. The CvR remains aligned at 0.05 (Mode 11 Transition-in-Progress), reflecting honest disclosure of weak operational data rather than narrative inflation. For a sector leader in water management, the absence of third-party ESG assurance and the unverified community impact claims are the binding governance gaps. Engagement priority is reasonable assurance plus safety parity disclosure within 12 months. Until the trajectory stabilises, the directional view is underweight.

TOP ALIGNED CLAIMS
  • Full GHG disclosure with Scope 3 (21.9 lakh tCO2e) and physical intensity normalisation
  • Waste diversion at 100% — best-in-sector circularity discipline
  • Hazardous waste management at 90 (sub-indicator) with zero landfill
  • Process-Constrained Honesty mode confirms underclaiming pattern across narrative
TOP DIVERGENT CLAIMS
  • Two worker fatalities with zero employee fatalities — safety parity gap
  • Renewable share collapsed from 72.5% to 8.9% YoY without reconciliation
  • No third-party ESG assurance despite top-150 listed company status
  • Community-verified impact at sub-indicator score 8 — water programs uncorroborated
Revenue (FY25)
Rs 2,874 Cr
Employees
1,272
Plants / Sites
16
Renewable share
8.9%
Fatalities (FY25)
0 employee, 2 worker
Women employees
9.8%

Operational footprint at a glance

Underlying disclosed data that anchors the TERRA Score. All values from FY25 BRSR filing.

SCOPE 1 EMISSIONS
1,764 tCO2e
Direct operational
SCOPE 2 EMISSIONS
1,552 tCO2e
Purchased energy
SCOPE 3 EMISSIONS
21,86,476 tCO2e
Value chain
RENEWABLE SHARE
8.9%
of total energy
WATER WITHDRAWAL
9,712 KL
FY25
FATALITIES (FY25)
0 employee, 2 worker
Employee + worker
WOMEN WORKFORCE
9.8%
Wage parity 5.19%
REVENUE (FY25)
Rs 2,874 Cr
1,272 employees
NET ZERO TARGET
2050 (announced)
SBTi: Not committed
CSR SPEND (FY25)
Rs Not disclosed Cr
FY25

Five-Dimension Score Architecture

Each dimension contains 4 to 10 sub-indicators scored on a 0 to 100 scale and aggregated using sector-specific weights. Bar colour ramp: green (above 70), teal (55 to 69), amber (40 to 54), coral (25 to 39), red (below 25).

TrajectoryEnvironmentalResilienceReachAccountability
Five-dimension shape — FY2025

Trajectory

20% of TERRA Score · 4 sub-indicators
32.3
↓ 8.6 from FY23
3-Year Rolling Improvement T1
5
Pledge-to-Progress Delivery T2
43
Restatement Penalty T3
26
Net Zero / SBTi Alignment T4
50

Environmental Reality

28% of TERRA Score · 10 sub-indicators
61.1
↓ 8.7 from FY23
GHG Intensity E1
83
Water Stress-Adjusted Use E2
87
Waste Circularity E3
97
Biodiversity Footprint E4
32
Energy Intensity E5
12
Air Pollution Disclosure E6
74
Renewable Energy Share E7
30
Hazardous Waste Management E8
90
Water Recycling Rate E9
5
Environmental Compliance E10
64

Resilience and Systems

18% of TERRA Score · 6 sub-indicators
57.1
↓ 1.7 from FY23
Supply Chain ESG Cascade R1.1
43
Physical Climate Risk R1.2
65
Systemic Sector Leverage R1.3
59
Business Continuity R1.4
70
Transition Risk Roadmap R1.5
48
ESG Data Infrastructure R1.6
61

Reach and Community

22% of TERRA Score · 8 sub-indicators
48.3
↓ 8.9 from FY23
Vulnerability Depth Index R2.1
49
Community-Verified Impact R2.2
8
Geographic Reach Depth R2.3
43
Financial Inclusion R2.4
70
Worker Welfare R2.5
55
Gender Equity R2.6
22
Human Rights Due Diligence R2.7
68
Workforce Safety R2.8
65

Accountability

12% of TERRA Score · 6 sub-indicators
64.9
↓ 0.6 from FY23
CvR Gap (Claim vs Reality) A1
90
ESG Governance Depth A2
33
Regulatory Compliance A3
57
Disclosure Quality A4
65
Stakeholder Engagement A5
71
Tax Transparency A6
46

Where does this company sit in its sector

Six closest peers by TERRA Score in Water Management & Utilities, with full dimension breakdown. 2 listed pure-play; broader water/utility cohort below.

SCORE DISTRIBUTION ACROSS 2 WTR COMPANIES
253545556575 median 48.5 52.3
VA Tech Wabag Limited (TERRA 52.3) sits at the 100th percentile of Water Management & Utilities. Sector median is 48.5, range 32.8 to 64.1.
Company TERRA Trajectory Environmental Resilience Reach Accountability CvR Ren % Fatalities
VA Tech Wabag ← scored 52.3 32.3 61.1 57.1 48.3 64.9 0.05 8.9% 2
D. P. Abhushan (sector #2) 36.9 23.1 41.2 45.5 39.0 33.1 0.51 0.0% 0
NTPC (broader power utility) 51.4 42.0 50.5 56.0 51.5 57.0 0.05 4.5% 3
Power Grid (transmission) 53.2 41.0 54.5 60.0 52.0 58.5 0.04 2.0% 0
Tata Power (integrated) 48.3 36.0 47.0 52.0 49.0 57.5 0.00 25.5% 1
JSW Energy (renewable) 56.0 53.0 54.0 60.5 51.0 61.5 0.04 71.0% 0
VS SECTOR MEDIAN — DIMENSION-LEVEL
Trajectory
32.3 vs 28.0 +4.3
Environmental Reality
61.1 vs 51.2 +9.9
Resilience and Systems
57.1 vs 51.3 +5.8
Reach and Community
48.3 vs 43.7 +4.6
Accountability
64.9 vs 49.0 +15.9
PEER RADAR — SCORED COMPANY VS SECTOR TOP VS SECTOR MEDIAN
TrajectoryEnvironmentalResilienceReachAccountability VA Tech Wabag Sector top — JSW Energy (renewable) Sector median (2 companies)

CvR Gap — Claim Versus Reality

CvR Gap quantifies the divergence between narrative ESG claims and quantitative data on a 0.00 to 1.00 scale, then classifies the pattern into one of 15 modes.

CvR SCORE
0.05
Aligned band
CvR MODE CLASSIFICATION
Mode 11
Transition-in-Progress
Top aligned claim
Full GHG disclosure with Scope 3 and physical intensity
Top divergent claim
Safety parity gap: 2 worker fatality vs 0 employee

Anti-Gaming Audit · 13 Checks

Each TERRA scorecard runs 13 anti-gaming checks designed to detect common ESG disclosure manipulation patterns. Triggered checks materially adjust dimension scores and CvR Gap classification.

1
checks triggered out of 13 — low concern
01
Absolute vs Percentage
02
Blanket Vulnerability
03
Safety Parity
04
Contract Worker Ratio
05
Scope 3 Materiality
06
Offset Blending
07
Restatement Cluster
08
Pledge Inflation
09
Selective Assurance
10
Geographic Cherry-Pick
11
Time Horizon Stretch
12
Beneficiary Double-Count
13
Materiality Drift

3-Year Trajectory Analysis

FY23 to FY25 progression at score and dimension level. Direction is classified as Improving (above +2 over 3 years), Declining (below -2), or Mixed.

3-YEAR DELTA
-6.5
Trajectory: Declining
TERRA SCORE PROGRESSION
58.8
FY23
59.7
FY24
52.3
FY25
FY23 → FY25 DIMENSION TRAJECTORIES
80 70 60 50 40 30 FY23 FY24 FY25 T 32.3 E 61.1 R1 57.1 R2 48.3 A 64.9

Top 5 Forward-Looking Risks

Risks ranked by materiality and time horizon. Each risk maps to specific scorecard sub-indicators.

# Risk description Time horizon Materiality Affects
1 Two worker fatalities triggering Safety Parity flag without root-cause publication 12 months High R2.8, R2.5
2 Trajectory regressing 6.5 points over 3 years — momentum negative 12 to 18 months High T1, T3
3 No third-party ESG assurance — disclosure depth unverified 18 to 24 months High A1, A2
4 Renewable share dropped from 72.5% (FY24) to 8.9% (FY25) — restatement concern 12 months High E7, T3
5 Community-verified impact at 8 — claimed water access programs unverified 24 months Medium R2.2, A5

Top 5 Uplift Actions

Actions ranked by score impact and implementation cost. Cumulative impact reflects what is achievable over a 12 to 18 month horizon if all five actions are delivered.

# Uplift action Score impact Time to deliver
1 Implement third-party reasonable assurance on FY26 BRSR Core disclosures +15 to +20 on A1, A2
+1.8 to +2.5 on TERRA
9 to 12 months
2 Publish contractor HSE root-cause analysis and unify safety KPIs across workforce +10 to +15 on R2.5, R2.8
+1.0 to +1.5 on TERRA
6 to 9 months
3 Restate FY24 to FY25 renewable share trajectory with auditor sign-off +8 to +12 on T3, E7
+1.2 to +2.0 on TERRA
6 months
4 Validate 2050 net zero target with SBTi and publish near-term milestones +6 to +10 on T4
+0.7 to +1.2 on TERRA
12 to 18 months
5 Independent audit of Reliance Foundation-equivalent CVI claims and beneficiary segmentation +10 to +18 on R2.1, R2.2
+1.0 to +1.8 on TERRA
9 to 12 months

What the scorecard implies for valuation

How the disclosed data should map into ESG-screened pricing decisions. Each rationale anchors to specific scorecard sub-indicators.

PRICING SIGNAL
Underweight — disclosure regression unresolved
Trajectory broken
TERRA score regressed 6.5 points over 3 years (58.8 → 59.7 → 52.3). Trajectory dimension collapsed 16.5 points in FY25 alone. Backwards momentum on a sector leader is the single most material valuation signal.
Restatement risk
Renewable share dropped from 72.5% to 8.9% YoY without independent reconciliation. Either the FY24 number or the FY25 number is wrong; until clarified, all environmental sub-indicators carry restatement risk.
Governance gap
No third-party ESG assurance despite top-150 listed status. For institutional mandates running BRSR Core compliance screens from FY27, this triggers automatic exclusion.
Recovery pathway
Engagement priority is reasonable assurance on FY26 BRSR + safety parity disclosure within 12 months. Successful execution restores ~5 score points and moves CvR Mode classification clearly into Mode 11 Transition-in-Progress.

Top 5 material issues — financial, ESG, management readiness

Material issue Financial impact ESG impact Mgmt readiness
Disclosure regression High High Low
Safety parity gap Medium High Low
Third-party assurance absent High Medium Medium
Renewable restatement Medium High Low
CVI score at 8 — claims unverified Low Medium Medium
INSTITUTIONAL ESG SCORECARD · DEMO PREVIEW
Sector position: #5 of 35

Jindal Steel & Power Limited

Steel · STE · BSE: 532286 · NSE: JINDALSTEL
54.5/100
TERRA Score · Average
Sector range 35.4 to 59.8 (median 47.2) across 35 Steel companies in our coverage
54.5 SCORE
TRAJECTORY
36.4
20% weight
ENVIRONMENTAL REALITY
75.0
28% weight
RESILIENCE AND SYSTEMS
54.3
18% weight
REACH AND COMMUNITY
48.0
22% weight
ACCOUNTABILITY
49.0
12% weight
Reporting period: FY2025 (01 April 2024 to 31 March 2025)
Methodology: TERRA Methodology v2.1, calibrated against 1,207 scored Indian listed companies
DEMO SCORECARD · NOT FOR REDISTRIBUTION · ILLUSTRATIVE PURPOSES

Executive Intelligence Brief

TERRA SIGNAL
CvR Significant · Mode 2 Curated Omission
Sector rank #5 of 35 · Trajectory -3.8 over 3 years · 3 anti-gaming flags · 9 fatalities
POSITION THESIS

Jindal Steel & Power scores TERRA 54.5, mid-band Average and rank #5 of 35 in the Indian listed steel cohort. The dominant scorecard signal is a CvR of 0.36 sitting in the Significant band with Mode 2 Curated Omission classification — meaning the disclosed narrative selectively omits material categories rather than overclaiming. Scope 3 emissions are not disclosed for a steel operator (the most material gap possible in this sector), and nine total fatalities (1 employee + 8 worker) in FY25 trigger the highest social-pillar concern across our O2C/Steel coverage. Three anti-gaming flags are active: Blanket Vulnerability (CSR segmentation absent), Scope 3 Materiality, and Offset Blending. The trajectory has declined 3.8 points over three years and Accountability dropped from 62.2 (FY24) to 49.0 (FY25). For ESG-screened mandates, this is a caution case requiring active monitoring on Scope 3 disclosure and HSE root-cause publication before any directional re-rating.

TOP ALIGNED CLAIMS
  • Waste diversion rate at 72% — within sector norm
  • Air pollution monitoring at 87 sub-indicator score
  • Energy intensity score at 95 reflects efficient per-tonne energy use
  • Stakeholder engagement framework documented at 71
TOP DIVERGENT CLAIMS
  • Scope 3 omitted entirely for an integrated steel operator
  • Nine total fatalities (1 employee + 8 worker) without unified HSE root-cause publication
  • Renewable share at 0% with no transition capex pathway disclosed
  • No third-party ESG assurance despite material operational footprint
Revenue (FY25)
Rs 49,143 Cr
Employees
8,077
Plants / Sites
28
Renewable share
0.0%
Fatalities (FY25)
1 employee, 8 worker
Women employees
4.5%

Operational footprint at a glance

Underlying disclosed data that anchors the TERRA Score. All values from FY25 BRSR filing.

SCOPE 1 EMISSIONS
21.49 M tCO2e
Direct operational
SCOPE 2 EMISSIONS
1.01 M tCO2e
Purchased energy
SCOPE 3 EMISSIONS
Not disclosed (material gap)
Value chain
RENEWABLE SHARE
0.0%
of total energy
WATER WITHDRAWAL
22.0 M KL
FY25
FATALITIES (FY25)
1 employee, 8 worker
Employee + worker
WOMEN WORKFORCE
4.5%
Wage parity 3.19%
REVENUE (FY25)
Rs 49,143 Cr
8,077 employees
NET ZERO TARGET
2050 (announced)
SBTi: Not committed
CSR SPEND (FY25)
Rs 10.1 Cr
FY25

Five-Dimension Score Architecture

Each dimension contains 4 to 10 sub-indicators scored on a 0 to 100 scale and aggregated using sector-specific weights. Bar colour ramp: green (above 70), teal (55 to 69), amber (40 to 54), coral (25 to 39), red (below 25).

TrajectoryEnvironmentalResilienceReachAccountability
Five-dimension shape — FY2025

Trajectory

20% of TERRA Score · 4 sub-indicators
36.4
↓ 12.4 from FY23
3-Year Rolling Improvement T1
21
Pledge-to-Progress Delivery T2
47
Restatement Penalty T3
69
Net Zero / SBTi Alignment T4
28

Environmental Reality

28% of TERRA Score · 10 sub-indicators
75.0
↑ 9.3 from FY23
GHG Intensity E1
95
Water Stress-Adjusted Use E2
92
Waste Circularity E3
77
Biodiversity Footprint E4
51
Energy Intensity E5
95
Air Pollution Disclosure E6
87
Renewable Energy Share E7
7
Hazardous Waste Management E8
73
Water Recycling Rate E9
5
Environmental Compliance E10
55

Resilience and Systems

18% of TERRA Score · 6 sub-indicators
54.3
↓ 1.9 from FY23
Supply Chain ESG Cascade R1.1
49
Physical Climate Risk R1.2
71
Systemic Sector Leverage R1.3
61
Business Continuity R1.4
74
Transition Risk Roadmap R1.5
27
ESG Data Infrastructure R1.6
61

Reach and Community

22% of TERRA Score · 8 sub-indicators
48.0
↓ 19.3 from FY23
Vulnerability Depth Index R2.1
57
Community-Verified Impact R2.2
41
Geographic Reach Depth R2.3
63
Financial Inclusion R2.4
64
Worker Welfare R2.5
51
Gender Equity R2.6
20
Human Rights Due Diligence R2.7
32
Workforce Safety R2.8
52

Accountability

12% of TERRA Score · 6 sub-indicators
49.0
↑ 5.3 from FY23
CvR Gap (Claim vs Reality) A1
40
ESG Governance Depth A2
37
Regulatory Compliance A3
57
Disclosure Quality A4
64
Stakeholder Engagement A5
71
Tax Transparency A6
43

Where does this company sit in its sector

Six closest peers by TERRA Score in Steel, with full dimension breakdown. All 35 Steel companies in our coverage.

SCORE DISTRIBUTION ACROSS 35 STE COMPANIES
253545556575 median 47.2 54.5
Jindal Steel & Power Limited (TERRA 54.5) sits at the 80th percentile of Steel. Sector median is 47.2, range 35.4 to 59.8.
Company TERRA Trajectory Environmental Resilience Reach Accountability CvR Ren % Fatalities
Tata Steel 59.8 49.0 62.5 60.9 57.8 73.8 0.00 0.1% 5
APL Apollo Tubes 56.7 48.7 63.9 54.1 51.2 67.5 0.00 20.0% 0
Jindal Stainless 56.0 54.1 49.5 60.8 54.1 70.8 0.18 4.1% 0
HARIOM PIPE 55.7 38.8 72.9 49.7 51.4 60.8 0.00 3.5% 0
Jindal Steel & Power ← scored 54.5 36.4 75.0 54.3 48.0 49.0 0.36 0.0% 9
JSW Steel 49.9 41.9 42.1 54.3 48.3 77.9 0.00 0.6% 5
VS SECTOR MEDIAN — DIMENSION-LEVEL
Trajectory
36.4 vs 39.5 -3.1
Environmental Reality
75.0 vs 50.0 +25.0
Resilience and Systems
54.3 vs 51.5 +2.8
Reach and Community
48.0 vs 49.5 -1.5
Accountability
49.0 vs 65.0 -16.0
PEER RADAR — SCORED COMPANY VS SECTOR TOP VS SECTOR MEDIAN
TrajectoryEnvironmentalResilienceReachAccountability Jindal Steel & Power Sector top — Tata Steel Sector median (35 companies)

CvR Gap — Claim Versus Reality

CvR Gap quantifies the divergence between narrative ESG claims and quantitative data on a 0.00 to 1.00 scale, then classifies the pattern into one of 15 modes.

CvR SCORE
0.36
Significant band
CvR MODE CLASSIFICATION
Mode 2
Curated Omission
Top aligned claim
Waste diversion rate at 72%
Top divergent claim
Scope 3 omitted for Steel sector

Anti-Gaming Audit · 13 Checks

Each TERRA scorecard runs 13 anti-gaming checks designed to detect common ESG disclosure manipulation patterns. Triggered checks materially adjust dimension scores and CvR Gap classification.

3
checks triggered out of 13 — monitoring warranted
01
Absolute vs Percentage
02
Blanket Vulnerability
03
Safety Parity
04
Contract Worker Ratio
05
Scope 3 Materiality
06
Offset Blending
07
Restatement Cluster
08
Pledge Inflation
09
Selective Assurance
10
Geographic Cherry-Pick
11
Time Horizon Stretch
12
Beneficiary Double-Count
13
Materiality Drift

3-Year Trajectory Analysis

FY23 to FY25 progression at score and dimension level. Direction is classified as Improving (above +2 over 3 years), Declining (below -2), or Mixed.

3-YEAR DELTA
-3.8
Trajectory: Declining
TERRA SCORE PROGRESSION
58.3
FY23
50.4
FY24
54.5
FY25
FY23 → FY25 DIMENSION TRAJECTORIES
80 70 60 50 40 30 FY23 FY24 FY25 T 36.4 E 75.0 R1 54.3 R2 48.0 A 49.0

Top 5 Forward-Looking Risks

Risks ranked by materiality and time horizon. Each risk maps to specific scorecard sub-indicators.

# Risk description Time horizon Materiality Affects
1 Nine total fatalities (1 employee + 8 worker) — sector-high HSE incident burden Immediate High R2.8, R2.5
2 Material Scope 3 omitted for steel sector — primary CvR driver 12 to 18 months High E1, A1
3 Curated Omission CvR mode at 0.36 — narrative substance materially exceeds data 12 months High A1, A4
4 Renewable share at 0% with no published transition pathway 24 to 36 months High E7, T4
5 GHG emissions increasing +18% YoY on growing energy intensity 12 to 24 months High E1, T1

Top 5 Uplift Actions

Actions ranked by score impact and implementation cost. Cumulative impact reflects what is achievable over a 12 to 18 month horizon if all five actions are delivered.

# Uplift action Score impact Time to deliver
1 Establish Scope 3 emissions baseline with independent verification +15 to +25 on E1, A1
+2.0 to +3.5 on TERRA
12 to 18 months
2 Publish HSE root-cause analysis for 9 fatalities and remediation roadmap +10 to +18 on R2.8, R2.5
+1.5 to +2.5 on TERRA
6 to 9 months
3 Implement third-party ESG assurance and validate net zero with SBTi +12 to +20 on A1, T4
+1.8 to +3.0 on TERRA
12 to 18 months
4 Initiate renewable PPA and on-site solar to reach 10% renewable share by FY27 +10 to +15 on E7
+1.5 to +2.2 on TERRA
24 months
5 Disclose CSR beneficiary segmentation with field-verified ST/SC/BPL share +8 to +12 on R2.1, R2.2
+0.8 to +1.5 on TERRA
6 to 9 months

What the scorecard implies for valuation

How the disclosed data should map into ESG-screened pricing decisions. Each rationale anchors to specific scorecard sub-indicators.

PRICING SIGNAL
Caution — discount warranted until Scope 3 + HSE disclosure
CvR-driven discount
CvR 0.36 in Significant band (Mode 2 Curated Omission) is the highest in our 35-company steel cohort. Material narrative substance exceeds disclosed data — institutional buyers running CvR screens should apply 10-15% ESG discount until reconciled.
Fatality concentration
9 total fatalities (1 employee + 8 worker) in FY25 is the highest in steel sector cohort (median: 2.5 across peers). HSE root-cause non-disclosure compounds reputational risk for ESG-tracked indices.
Scope 3 absence
For an integrated steel operator, Scope 3 omission is the single most material disclosure gap possible. CBAM phase 2 expansion (2027-2028) will make this a hard cost — currently unquantified in valuation.
Score-CvR divergence
TERRA 54.5 (rank #5/35) sits above sector median, but the score is 6.5 points lower than it would be with full Scope 3 + HSE disclosure. The divergence is the price gap that closes if disclosure improves.

Top 5 material issues — financial, ESG, management readiness

Material issue Financial impact ESG impact Mgmt readiness
Scope 3 omission High High Low
Fatality count + HSE non-disclosure High High Low
Renewable share at 0% Medium High Low
Gender equity at 4.5% Low Medium Medium
Third-party assurance absent Medium Medium Medium
INSTITUTIONAL ESG SCORECARD · DEMO PREVIEW
Sector position: #1 of 17

Bharti Airtel Limited

Telecom & Communication · TEL · BSE: 532454 · NSE: BHARTIARTL
59.4/100
TERRA Score · Average
Sector range 30.3 to 59.4 (median 43.6) across 17 Telecom & Communication companies in our coverage
59.4 SCORE
TRAJECTORY
52.1
20% weight
ENVIRONMENTAL REALITY
61.1
28% weight
RESILIENCE AND SYSTEMS
68.5
18% weight
REACH AND COMMUNITY
54.0
22% weight
ACCOUNTABILITY
63.6
12% weight
Reporting period: FY2025 (01 April 2024 to 31 March 2025)
Methodology: TERRA Methodology v2.1, calibrated against 1,207 scored Indian listed companies
DEMO SCORECARD · NOT FOR REDISTRIBUTION · ILLUSTRATIVE PURPOSES

Executive Intelligence Brief

TERRA SIGNAL
CvR Moderate · Mode 12 Transition Ambiguity
Sector rank #1 of 17 · Trajectory +11.7 over 3 years · 4 anti-gaming flags
POSITION THESIS

Bharti Airtel is the TEL sector top in our coverage at TERRA 59.4 (sector range 30.3 to 59.4 across 17 companies). The trajectory is genuinely improving — up 11.7 points over three years driven by reasonable assurance scope expansion and disclosure quality at 83. But CvR sits at 0.29 in the Moderate band, classified as Mode 12 Transition Ambiguity — meaning the announced 2050 net zero pathway and SBTi commitment are running materially ahead of operational delivery. Renewable share is 0.8%, four anti-gaming flags are active (Absolute vs Percentage, Blanket Vulnerability, Contract Worker Ratio at 84%, Offset Blending), and Scope 3 is not disclosed. Five fatalities (1 employee + 4 worker) confirm the contract workforce safety gap. The mixed signal is real: this is sector top on disclosure infrastructure but mid-band on operational substance. For ESG-tilted mandates, hold with engagement priorities on Scope 3 disclosure, SBTi validation, and contract workforce structure within an 18 to 24 month window.

TOP ALIGNED CLAIMS
  • Reasonable assurance on 14 ESG disclosures (sector-leading scope)
  • Trajectory improvement: TERRA up 11.7 points over 3 years
  • Disclosure quality at 83 — sector-leading documentation depth
  • Water recycling at 63% across tower operations
TOP DIVERGENT CLAIMS
  • Heavy contract workforce at 84% of total — anti-gaming flag triggered
  • Renewable share at 0.8% against announced 2050 net zero pathway
  • Scope 3 not disclosed for a telecom operator with material tower energy footprint
  • SBTi committed but not validated — pledge-progress gap at sub-indicator score 41
Revenue (FY25)
Rs 1,08,944 Cr
Employees
13,593
Plants / Sites
28
Renewable share
0.8%
Fatalities (FY25)
1 employee, 4 worker
Women employees
19.6%

Operational footprint at a glance

Underlying disclosed data that anchors the TERRA Score. All values from FY25 BRSR filing.

SCOPE 1 EMISSIONS
23,218 tCO2e
Direct operational
SCOPE 2 EMISSIONS
4,90,367 tCO2e
Purchased energy
SCOPE 3 EMISSIONS
Not disclosed
Value chain
RENEWABLE SHARE
0.8%
of total energy
WATER WITHDRAWAL
1,28,286 KL
FY25
FATALITIES (FY25)
1 employee, 4 worker
Employee + worker
WOMEN WORKFORCE
19.6%
Wage parity 18.41%
REVENUE (FY25)
Rs 1,08,944 Cr
13,593 employees
NET ZERO TARGET
2050
SBTi: Committed (not validated)
CSR SPEND (FY25)
Rs 2.7 Cr
FY25

Five-Dimension Score Architecture

Each dimension contains 4 to 10 sub-indicators scored on a 0 to 100 scale and aggregated using sector-specific weights. Bar colour ramp: green (above 70), teal (55 to 69), amber (40 to 54), coral (25 to 39), red (below 25).

TrajectoryEnvironmentalResilienceReachAccountability
Five-dimension shape — FY2025

Trajectory

20% of TERRA Score · 4 sub-indicators
52.1
↑ 7.8 from FY23
3-Year Rolling Improvement T1
59
Pledge-to-Progress Delivery T2
41
Restatement Penalty T3
71
Net Zero / SBTi Alignment T4
46

Environmental Reality

28% of TERRA Score · 10 sub-indicators
61.1
↑ 19.7 from FY23
GHG Intensity E1
66
Water Stress-Adjusted Use E2
90
Waste Circularity E3
95
Biodiversity Footprint E4
52
Energy Intensity E5
73
Air Pollution Disclosure E6
87
Renewable Energy Share E7
10
Hazardous Waste Management E8
26
Water Recycling Rate E9
63
Environmental Compliance E10
81

Resilience and Systems

18% of TERRA Score · 6 sub-indicators
68.5
↑ 10.0 from FY23
Supply Chain ESG Cascade R1.1
70
Physical Climate Risk R1.2
60
Systemic Sector Leverage R1.3
50
Business Continuity R1.4
84
Transition Risk Roadmap R1.5
39
ESG Data Infrastructure R1.6
80

Reach and Community

22% of TERRA Score · 8 sub-indicators
54.0
↑ 3.3 from FY23
Vulnerability Depth Index R2.1
56
Community-Verified Impact R2.2
22
Geographic Reach Depth R2.3
53
Financial Inclusion R2.4
67
Worker Welfare R2.5
63
Gender Equity R2.6
38
Human Rights Due Diligence R2.7
76
Workforce Safety R2.8
50

Accountability

12% of TERRA Score · 6 sub-indicators
63.6
↑ 17.4 from FY23
CvR Gap (Claim vs Reality) A1
54
ESG Governance Depth A2
63
Regulatory Compliance A3
79
Disclosure Quality A4
83
Stakeholder Engagement A5
73
Tax Transparency A6
32

Where does this company sit in its sector

Six closest peers by TERRA Score in Telecom & Communication, with full dimension breakdown. All 17 Telecom & Communication companies in our coverage.

SCORE DISTRIBUTION ACROSS 17 TEL COMPANIES
253545556575 median 43.6 59.4
Bharti Airtel Limited (TERRA 59.4) sits at the 100th percentile of Telecom & Communication. Sector median is 43.6, range 30.3 to 59.4.
Company TERRA Trajectory Environmental Resilience Reach Accountability CvR Ren % Fatalities
Bharti Airtel ← scored 59.4 52.1 61.1 68.5 54.0 63.6 0.29 0.8% 5
Tata Communications 57.4 52.1 59.8 63.2 47.7 69.4 0.06 33.9% 0
Indus Towers 53.0 49.5 42.4 63.0 53.2 68.0 0.12 1.0% 2
Vodafone Idea 50.7 33.4 53.3 61.8 46.6 64.6 0.12 8.7% 0
GTL Infrastructure 49.0 40.0 46.0 58.0 47.0 55.0 0.00 1.5% 0
TTML 47.8 36.5 49.3 51.4 45.6 61.4 0.00 0.0% 0
VS SECTOR MEDIAN — DIMENSION-LEVEL
Trajectory
52.1 vs 41.0 +11.1
Environmental Reality
61.1 vs 49.5 +11.6
Resilience and Systems
68.5 vs 58.0 +10.5
Reach and Community
54.0 vs 47.0 +7.0
Accountability
63.6 vs 62.5 +1.1
PEER RADAR — SCORED COMPANY VS SECTOR TOP VS SECTOR MEDIAN
TrajectoryEnvironmentalResilienceReachAccountability Bharti Airtel Sector top — Bharti Airtel Sector median (17 companies)

CvR Gap — Claim Versus Reality

CvR Gap quantifies the divergence between narrative ESG claims and quantitative data on a 0.00 to 1.00 scale, then classifies the pattern into one of 15 modes.

CvR SCORE
0.29
Moderate band
CvR MODE CLASSIFICATION
Mode 12
Transition Ambiguity
Top aligned claim
Reasonable assurance on 14 ESG disclosures
Top divergent claim
Heavy contract workforce at 84% of total

Anti-Gaming Audit · 13 Checks

Each TERRA scorecard runs 13 anti-gaming checks designed to detect common ESG disclosure manipulation patterns. Triggered checks materially adjust dimension scores and CvR Gap classification.

4
checks triggered out of 13 — monitoring warranted
01
Absolute vs Percentage
02
Blanket Vulnerability
03
Safety Parity
04
Contract Worker Ratio
05
Scope 3 Materiality
06
Offset Blending
07
Restatement Cluster
08
Pledge Inflation
09
Selective Assurance
10
Geographic Cherry-Pick
11
Time Horizon Stretch
12
Beneficiary Double-Count
13
Materiality Drift

3-Year Trajectory Analysis

FY23 to FY25 progression at score and dimension level. Direction is classified as Improving (above +2 over 3 years), Declining (below -2), or Mixed.

3-YEAR DELTA
+11.7
Trajectory: Improving
TERRA SCORE PROGRESSION
47.7
FY23
56.6
FY24
59.4
FY25
FY23 → FY25 DIMENSION TRAJECTORIES
80 70 60 50 40 30 FY23 FY24 FY25 T 52.1 E 61.1 R1 68.5 R2 54.0 A 63.6

Top 5 Forward-Looking Risks

Risks ranked by materiality and time horizon. Each risk maps to specific scorecard sub-indicators.

# Risk description Time horizon Materiality Affects
1 Contract worker ratio at 84% triggering anti-gaming flag — workforce composition risk 12 months High R2.5, R2.8
2 Scope 3 omitted for telecom operator — disclosure gap 12 to 18 months High E1, A1
3 Five fatalities (1 employee + 4 worker) without root-cause publication 12 months High R2.8, R2.5
4 Renewable share at 0.8% against 2050 net zero pledge — Transition Ambiguity 24 to 36 months High E7, T4
5 SBTi committed but not validated — credibility gap on stated trajectory 12 to 18 months Medium T4, A1

Top 5 Uplift Actions

Actions ranked by score impact and implementation cost. Cumulative impact reflects what is achievable over a 12 to 18 month horizon if all five actions are delivered.

# Uplift action Score impact Time to deliver
1 Publish Scope 3 inventory for tower energy and supply chain with assurance +15 to +20 on E1, A1
+2.0 to +3.0 on TERRA
12 to 18 months
2 Convert SBTi commitment to validated near-term science-based targets +10 to +15 on T4, A1
+1.5 to +2.2 on TERRA
12 to 18 months
3 Publish unified HSE root-cause analysis and reduce contract worker ratio below 60% +10 to +18 on R2.5, R2.8
+1.5 to +2.5 on TERRA
18 to 24 months
4 Accelerate renewable PPAs to reach 5% renewable share by FY27 +12 to +18 on E7, T1
+1.8 to +2.8 on TERRA
24 months
5 Increase CSR spend to 2% of profit threshold and disclose vulnerability segmentation +8 to +12 on R2.1, R2.4
+0.6 to +1.0 on TERRA
6 to 12 months

What the scorecard implies for valuation

How the disclosed data should map into ESG-screened pricing decisions. Each rationale anchors to specific scorecard sub-indicators.

PRICING SIGNAL
Hold with engagement priorities — discount the Mode 12 ambiguity
Sector-top score, Mode 12 caveat
TERRA 59.4 is sector top among 17 Indian telecom companies, but CvR Mode 12 (Transition Ambiguity) means announced 2050 net zero pathway runs ahead of operational delivery. Apply ~5-8% ESG discount until SBTi validation closes the ambiguity.
Genuine trajectory
+11.7 score points over 3 years, anchored in real disclosure infrastructure expansion (reasonable assurance scope, disclosure quality at 83). Improvement is structural, not narrative inflation.
Operational lag
Renewable share at 0.8% against 2050 net zero pledge is the binding ambiguity. Sector peer Tata Comm at 33.9% renewable demonstrates feasibility. Without 5%+ renewable by FY27, Mode 12 risks drift to Mode 1.
Contract workforce structural
84% contract worker ratio triggers anti-gaming flag and is the social-pillar binding constraint. Five fatalities (1 employee + 4 worker) confirm the safety parity gap. Bringing ratio below 60% requires a multi-year workforce restructure.

Top 5 material issues — financial, ESG, management readiness

Material issue Financial impact ESG impact Mgmt readiness
Scope 3 disclosure absence High High Medium
Renewable share 0.8% vs 2050 NZ pledge High High Medium
Contract workforce 84% Medium High Low
SBTi committed-not-validated Medium Medium High
Worker fatality root-cause gap Low Medium Medium