Simplifying BRSR compliance
S ustainability, Net Zero, ESG, Climate Change have taken the world by storm. As the effects of climate change become more and more visible, Governments and companies have woken up to the harsh reality of climate change, the risk it brings along, and the time we have to address climate change, short albeit.
BRSR has been introduced by SEBI in India, voluntary for the top 1000 (by market capitalization) listed companies, mandatory reporting in FY 2022-23.
While BRSR may appear similar to Business Responsibility Reporting (BRR) applicable today, it is much more detailed and requires enhanced disclosures under each parameter.
A few of the key disclosures sought in the BRSR are highlighted below:
1. An overview of the entity’s material ESG risks and opportunities, approach to mitigate or adapt to the risks along-with financial implications of the same
2. Sustainability related goals & targets and performance against the same
3. Environment related disclosures covering aspects such as resource usage (energy and water), air pollutant emissions, green-house (GHG) emissions, transitioning to circular economy, waste generated and waste management practices, bio-diversity etc.
4. Social related disclosures covering the workforce, value chain, communities and consumers, as given below:
i. Employees / workers: Gender and social diversity including measures for differently abled employees and workers, turnover rates, median wages, welfare benefits to permanent and contractual employees / workers, occupational health and safety, trainings etc.
ii. Communities: disclosures on Social Impact Assessments (SIA), Rehabilitation and Resettlement, Corporate Social Responsibility etc.
iii. Consumers: disclosures on product labelling, product recall, consumer complaints in respect of data privacy, cyber security etc.
Listed entities already preparing and disclosing sustainability reports based on internationally accepted reporting frameworks (such as GRI, SASB, TCFD or Integrated Reporting) may cross-reference the disclosures made under such framework to the disclosures sought under the BRSR.
We partner with companies to not only assess their BRSR compliance status but work out solutions which go beyond compliance. Enhancing your operations, through ESG strategy aimed at making your business more resilient and sustainable. Contact us today.
