SEBI’s Business Responsibility and Sustainability Reporting – now have ESG components

SEBI, India (Securities and Exchange Board of India), has published a new updated circular on Annual Non-Financial Disclosures. The old version of the Business Responsibility Report ‘BRR’ is now BRSR ‘Business Responsibility and Sustainability Report’.

SEBI has suggested to include all aspects of ESG – Environmental, Social, and Governance aspect. This will be mandatory from FY 2022-23 for top-listed companies. This FY will be voluntary or basically prepare for the ‘good’ report and disclosures.

SEBI has acknowledged that there is a sudden spurt of ESG related financial structures globally and top companies must abide by it.

Most of the large corporates are reporting using other global standards like GRI, SASB etc, but they all also include ESG components now.

Public Sector Undertakings (PSUs) have yet a lot of work to do in this section of disclosure include measurements and data management. Carbon Emissions related data must be disclosed now. They do have lot of CSR projects under execution, but it still doesn’t measure the impact % of such projects. All 3 aspects of ESG need to be enhanced for such entities.

Global Multinationals in India have great internal departmental mechanism to measure and report. They need more data.

Indian Multinationals listed need to improve their disclosure with more methodical approach. Carbon Accounting must be reported.

So basically SEBI’s BRSR now has all the global components of Annual Sustainability Reporting. The better the report, the ‘good’ will be corporate’s reputation and positioning.

You can call it BRSR, or Sustainability Report of ESG Disclosure Report as per your branding and communications plan of action.

As I say it all about the ‘Strategy’. – payalsploy!

All About ESG