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SEBI introduces BRSR Core for establishing measurable criteria obligating BRSR Core Reports as part of Annual reports   !


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 SEBI introduces BRSR Core for establishing measurable criteria obligating BRSR Core Reports as part of Annual reports!
What is sustainability reporting: 

Sustainability reporting is an initiative to incorporate and improve an organization’s commitment to sustainable development to both internal and external stakeholders.



India is one of the early adopters of sustainability reporting for listed entities amongst its various other global peers. India is increasingly seeking businesses to be responsible and sustainable towards their environment and society with increasing regulatory oversight and progressive market reforms. Regulators have focused on making business disclosures comprehensive and going beyond financial disclosures in the past few years. 


Mandate from SEBI – Market Regulator:

The market regulator, the Securities and Exchange Board of India (SEBI) mandated the top 100 listed entities by market capitalisation to file Business Responsibility Reports (BRR) as part of their annual report, as per the disclosure requirement emanating from the “National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business” (NVGs) in 2012. The requirement for filing BRRs was later progressively extended to the top 500 listed entities by market capitalisation in 2015 and the top 1000 listed entities in 2019. As a market-driven approach, integrated reporting has gained momentum after SEBI soft law passed in 2017 on voluntary adoption of Integrated Reporting by top 500 listed companies. 

In March 2019, the NVGs were revised and released as the National Guidelines on Responsible Business Conduct (NGRBCs). 

Later, in 2020 the Committee on Business Responsibility Reporting of the Ministry of Corporate Affairs recommended that the Business Responsibility Report may be called the Business Responsibility and Sustainability Report (BRSR) to better reflect the scope of the reporting requirements. 

Subsequently, in May 2021, SEBI has introduced new reporting requirement called the Business Responsibility and Sustainability Report (BRSR) for sustainability reporting by listed entities with the intent towards having quantitative, qualitative and standardized disclosures on ESG parameters. 

The BRSR is a notable departure from the existing BRR and sets a significant step towards bringing sustainability reporting at par with financial reporting. 

As of FY 2023-24, the top 1000 listed entities are now obligated to disclose their BRSR Core reports as part of their Annual Reports.

In conclusion, India’s commitment to corporate sustainability reporting through BRSR Core signifies a significant step towards fostering responsible business practices and transparency among listed companies. 

By aligning with measurable ESG metrics and reinforcing assurance mechanisms, India seeks to promote a more sustainable and accountable corporate landscape.


Proprietary blog of Karma Global

Collated and Compiled by the internal staff of Karma Global  with the knowledge and expertise that they possess,  besides adaptation, illustration, derivation, transformation, collection and auto generation for its monthly newsletter Issue 15  of  September   2023 and in case of specific or general information or compliance updates for that matter, kindly reach out to the Marketing Team – /


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