India announces new sustainability reporting requirements
26 Mar 2021
The Securities and Exchange Board of India (SEBI) has announced to introduce new sustainability reporting requirements beginning with the 2022-23 financial year.
The new Business Responsibility and Sustainability Report (BRSR) will be applicable to the top 1,000 listed entities (by market capitalisation), for reporting on a voluntary basis for FY 2021-2022 and on a mandatory basis from FY 2022-2023. It replaces the previous Business Responsibility Report.
According to the press release, the BRSR is focused on quantifiable metrics, which are comparable between entities, sectors and time periods. Further, the disclosures on climate and social (employees, consumers and communities) matters have been significantly enhanced and made more granular.
For more information, please see the press release on the SEBI website.
Note: In May 2021, SEBI has published a 'Guidance Note for Business Responsibility & Sustainability Reporting Format' specifying more detail on how to meet the requirements in the BRSR.
