ESG Insights: How are companies getting ready for the BRSR?
In this podcast, Chaitanya Kalia, Partner and National Leader of the Climate Change and Sustainability Services at EY India, talks about what BRSR means, and its impact on companies as well as investors.
In conversation with:
Chaitanya Kalia
EY India Climate Change and Sustainability Services Leader
In this podcast, our host Silloo Jangalwala, Associate Director, BMC, speaks to Chaitanya Kalia Partner and National Leader of Climate Change and Sustainability Services at EY India, about the current definition of BRSR in India and companies’ readiness to meet the new ESG disclosure norms.
Background: The norms around Environmental, Social, and Governance (ESG) responsibilities of major corporations in India are changing. In May 2021, the Securities and Exchange Board of India (SEBI) released Business Responsibility and Sustainability Report (BRSR), with ESG disclosure criteria, applicable to the top 1,000 listed companies by market capitalization.
Key takeaways
- BRSR requires the top 1,000 listed companies to disclose non-financial performance. This is mandatory from FY 2022-23.
- CSR will be folded into BRSR.
- Indian companies preparing a checklist to meet BRSR requirements should, in order of priority, look at the ESG aspects of their own operations, the upstream (supply chain), and the downstream (impact on customers).
- Most of the top companies are prepared to give more ESG related information on suppliers, stakeholders and customers.
- In its current shape, BRSR is sector agnostic; same guidelines apply to all sectors.
For BRSR reporting, companies should start with their own operations – how it impacts the environment, its social aspect, and governance. Second, look at the upstream – how robust is the supply chain in disclosing ESG norms. Third is downstream, which has an impact on customers.
For your convenience, a full-text transcript of this podcast is also available. Read the transcript
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Podcast
Duration 08m 32s
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