Business Responsibility Report vs. Business Responsibility and Sustainability Report

Business Responsibility Report vs. Business Responsibility and Sustainability Report

Posted By : Sohil / Published on : 27-Aug-2022 05:51 AM / View : 384 / Comment : 1

Dear Members,

What is the difference between Business Responsibility Report and Business Responsibility and Sustainability Report and which companies has to file such reports?

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Ruchi Ruchi

Hello!!!

In terms of amendment to regulation 34 (2) (f) of LODR Regulations vide Gazette notification no.SEBI/LAD-NRO/GN/2021/22dated May05, 2021, it has now been decided to introduce new reporting requirements on ESG parameters called the Business Responsibility and Sustainability Report (BRSR).

The BRSR is accompanied with a guidance note to enable the companies to interpret the scope of disclosures. The BRSR seeks disclosures from listed entities on their performance against the nine principles of the National Guidelines on Responsible Business Conduct’(NGBRC)and reporting under each principleis divided into essential and leadership indicators. The essential indicators are required to be reported on a mandatory basis while the reporting of leadership indicators is on a voluntary basis.Listed entities should endeavor to report the leadership indictors also.

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.

WHEREAS

Business Responsibility Report is a disclosure of adoption of responsible business practices by a listed company to all its stakeholders. This is important considering the fact that these companies have accessed funds from the public, have an element of public interest involved, and are obligated to make exhaustive disclosures on a regular basis.

SEBI has prescribed a format for 'Business Responsibility Report' as a mandatory requirement for top 100 listed companies by SEBI’s Circular dated August 13, 2012. Other companies are encouraged to use the Business Responsibility Report for making disclosures to their stakeholders. Business Responsibility Report must be submitted as a part of the Annual Report.

ThankYou!!!!

29-08-2022 / 05:41:20 AM
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Business Responsibility Report vs. Business Responsibility and Sustainability Report

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