Business responsibility and sustainability reporting (BRSR) 

Earlier, SEBI vide Circular no. CIR/CFD/CMD/10/2015 dated November 04, 2015 has prescribed the format for the Business Responsibility Report (BRR) in respect of reporting on ESG (Environment, Social and Governance) parameters by listed entities.

It has now been decided to introduce new reporting requirements on ESG parameters called Business Responsibility and Sustainability Report (BRSR).

The BRSR is intended towards having quantitative and standardized disclosures on ESG parameters to enable comparability across companies, sectors and time. Such disclosures will be helpful for investors to make better investment decisions. The BRSR shall also  enable companies  to  engage  more  meaningfully  with  their stakeholders, by  encouraging  them to  look beyond financials and towards  social and environmental impacts.

BRSR is divided into 3 sections:

Section A         :           General Disclosures

Section B         :           Management and Process Disclosures

Section C         :           Principle wise Performance Disclosures

PRINCIPLE 1              : Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical, Transparent and Accountable.

PRINCIPLE 2             : Businesses should provide goods and services in a manner that is sustainable and safe.

PRINCIPLE 3             : Businesses should respect and promote the well-being of all employees, including those in their value chains.

PRINCIPLE 4             : Businesses should respect the interests of and be responsive to all its stakeholders.

PRINCIPLE 5             : Businesses should respect and promote human rights.

PRINCIPLE 6             : Businesses should respect and make efforts to protect and restore the environment.

PRINCIPLE 7             : Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent.

PRINCIPLE 8             : Businesses should promote inclusive growth and equitable development.

PRINCIPLE 9             : Businesses should engage with and provide value to their consumers in a responsible manner.

The BRSR is accompanied with a guidance note to enable the companies to interpret the scope of disclosures. The format of the BRSR and the guidance note are detailed in Annexure I (BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORTING FORMAT) and Annexure II (GUIDANCE NOTE FOR BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORTING FORMAT) respectively.

Applicability: with effect from the financial year 2022-2023, filing of BRSR shall be mandatory for the top 1000 listed companies (by market capitalization) and shall replace the existing BRR. Filing of BRSR is voluntary for the financial year 2021-22.


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