BRSR

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Business Responsibility

and Sustainability Report


Introduction
• Sustainability Reporting is an overview of a company’s economic, environmental and
social impacts, caused by everyday business operations and activities.
• There are various international and local frameworks used by organisations across the
globe for their corporate sustainability reporting. In November 2018, the Ministry of
Corporate Affairs (MCA) constituted a Committee on Business Responsibility Reporting
for finalising Business Responsibility Reporting formats for listed and unlisted
companies, based on the framework of the National Guidelines for Responsible
Business Conduct’ (NGRBCs).
• In August 2020, the Committee addressed various aspects and issues that could
improve the quality and utility of disclosures and recommended Business Responsibility
and Sustainability Reporting (BRSR) as an update on the existing Business
Responsibility Reporting (BRR) to incorporate the current global practices in non-
financial sustainability reporting based on the NGRBCs.
Introduction
• Through its ‘Report of the Committee on Business Responsibility Reporting’ (the
Committee Report), the Committee recommended that BRR be rechristened BRSR,
where disclosures are based on ESG parameters, compelling organisations to
holistically engage with stakeholders and go beyond regulatory compliances in terms of
business measures and their reporting.
• Reporting is mandatory for the top 1,000 listed companies (by market capitalisation)
from FY 2022–23, while disclosure is voluntary for FY 2021–22. Thus, the Committee
Report encourages companies to report their performance for FY2021–22 in order to
be better prepared to adopt this framework from the next FY.
• As per SEBI’s circular dated 10 May 2021, entities already preparing and disclosing
sustainability reports based on internationally accepted reporting frameworks (such as
GRI, SASB, Task Force on Climate-related Financial Disclosures (TCFD) or <IR>) may
cross-refer to disclosures made under these frameworks.
BRSR – the format configuration

Section A ~
BRSR Format

General Disclosures

Section B ~
Management and Process Disclosures
Essential indicators
Section C ~ (mandatory)
Principle-wise Performance Disclosures
– nine principles of the NGRBC Leadership indicators
(voluntary)
Nine principles of the NGBRC

Principle 1 ~ Principle 7 ~
Businesses Principle 3 ~ Businesses,
should Principle 2 ~ Businesses Principle 4 ~ Principle 6 ~ when Principle 8 ~ Principle 9 ~
conduct and Businesses should Businesses Principle 5 ~ Businesses engaging in Businesses Businesses
govern should respect and should Businesses should influencing should should
themselves provide goods promote the respect the should respect and public and promote engage with
with integrity, and services well-being of interests of respect and make efforts regulatory inclusive and provide
and in a in a manner all employees, and be promote to protect and policy, should growth and value to their
manner that is that is including responsive to human rights restore the do so in a equitable consumers in
ethical, sustainable those in their all its environment manner that is development a responsible
transparent and safe value chains stakeholders responsible manner
and and
accountable transparent
Impact
corporate rating

funding parameters

BRSR would be having


impact upon following
corporate dynamics,
director's obligations

namely:
stakeholder’s activism

auditor's judgment

restructuring decisions

governance matrix

KMP identification
IFRS I Corporate Laws I Due Diligence I Forensic Audits

Thank you

Kamal Garg & Associates


cakamalgarg@gmail.com; 9811054015

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