Market regulator SEBI has specified a “glide path” for the mandatory “reasonable assurance” of core business responsibility and sustainability reporting (BRSR Core), which is a novel ESG reporting framework.
While top 150 listed companies by market capitalisation would have to subject their BRSR Core to “reasonable assurance” in FY24, the mandate would be increased gradually to 1,000 firms by FY27, SEBI said in a circular.
The SEBI move is expected to provide comfort to investors, regulators and various ESG rating agencies. BRSR Core brings out the critical elements of BRSR and mandates 49 parameters for ESG reporting. It is intended to ensure quantitative and standardised disclosures on environment, social and governance (ESG) parameters to enable comparability across companies, sectors and time. Such disclosures will aid investment decisions.
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