ESG in Indian Companies: Thinking Through the Sustainability Lens?

SEBI, the Indian Capital markets watchdog, recently came out with a circular on Business Responsibility and Sustainability Reporting by listed entities. However, it is applicable only to the top 1000 listed companies by market capitalization. This is a paradigm shift from the erstwhile Business Responsibility Reporting (BRR) regime to Business Responsibility and Sustainability Report (BRSR) reporting regime. The foundation for the same has been the MCA’s Report on Business Responsibility Reporting. The MCA report has touted the BRSR to serve as “a single comprehensive source of non-financial sustainability information relevant to all business stakeholders – investors, shareholders, regulators, and the public at large.” Placing sustainability reporting on an equal footing with financial reporting is necessary especially due to India’s third position in the emission of greenhouse gases after the United States and China.Read more