Context: Delhi-based think tank Centre for Science and Environment (CSE) welcomed the Business Responsibility and Sustainability Reporting (BRSR) initiative to increase corporate transparency but identified significant gaps in the current reporting practices.

Business Responsibility and Sustainability Reporting (BRSR) Initiative

• About: BRSR mandates the top 1000 listed companies to disclose their performance on Environmental, social, and corporate governance (ESG) parameters, showcasing their dedication to responsible business practices.
• Developed by: Securities and Exchange Board in India (SEBI)
• Objective: To mandate Indian companies to provide quantifiable metrics on sustainability-related factors, such as respect for human rights or environmental protection.
• Evolution to BRSR: The new BRSR, in effect since 2023, is more closely aligned with globally accepted reporting frameworks like the GRI and TCFD.
• Core Categories:

o Environmental Protection: Key performance indicators cover electricity consumption, water usage, and air emissions.

o Human Rights: Focus on human rights violations and minimum and fair wages.

o Integrity: Performance indicators include anti-corruption, anti-bribery, and conflicts of interest policies.

o Employee Well-being: Metrics focused on parental benefits, employee accessibility, and the percentage of unionized workers.

o Inclusive Growth: Policies favoring vulnerable and marginalized groups.

o Sustainable Goods and Services: Information on investments in social and environmental impacts.

o Responsible Consumer Engagement: KPIs encompass handling consumer complaints and feedback, product recall procedures, and cybersecurity and data privacy policies.

o Stakeholder Responsiveness: Describing engagement with vulnerable and marginalized groups.

o Responsible Public Policy Engagement: Listing trade and industry affiliations and detailing issues relating to anticompetitive conduct.