Business Responsibility and Sustainability Report | BRSR Reporting in India | Enterclimate

The Business Responsibility and Sustainability Report (BRSR)is an initiative meant for listed entities to display their performance against the nine principles of the ‘National Guidelines on Responsible Business Conduct’ (NGBRCs). The report is meant for stakeholders as well as the public. A company’s reporting under the nine principles is divided into ‘essential’ and ‘leadership’ indicators. The essential indicators must be reported mandatorily, while the reporting on leadership indicators is voluntary. The #BRSR is meant to ensure that investors have access to standardised disclosures of a company’s performance on #ESG or Environment, Social and Governance parameters.

Access to relevant and comparable information will enable investors and other stakeholders to identify and assess sustainability-related risks and opportunities of companies and make better investment decisions. At the same time, businesses will be able better to demonstrate their sustainability objectives, position, and performance resulting in long-term value creation in the form of the three aspects, people, planet and profit. As per SEBI, BRSR applied to the top 1000 listed entities for reporting voluntarily for FY 2021 – 22 and now, on a mandatory basis from FY 2022-23. BRSR Reporting is an ESG framework to comply with other global standards like GRI, TCFD, SASB, Integrated Reporting, etc. This reporting is expected to apply to all listed and unlisted companies in the coming years.

Advantages of #BRSRReporting

Through this reporting, businesses will be able to
• Conduct and govern themselves with transparency, ethics and accountability
• Engage and provide value to the customers in a responsible way.
• Promote the well-being of all employees and human rights.
• Provide goods or services that are safe and sustainable throughout their lifecycle.
• Respect the interests of all stakeholders and be responsive to their needs.
• Protect, respect and make efforts to restore the environment
• Support inclusive growth and equitable development for all its stakeholders.

What is BRSR Lite

Since organisations outside the listed companies seldom have experience with non-financial reporting, the SEBI also introduced the provision of BRSR lite, expecting them to come out with a report covering the elements listed in the comprehensive BRSR format. As BRSR will not be pragmatic and hence the committee proposed the idea of a second format. The lite format version also has the differential category of Essential and Leadership and seeks information which smaller companies should be able to provide. Therefore the lite format has fewer disclosures than the comprehensive version. This version was made with the intention of having the MSME organisations also be a part of the BRSR reporting.

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