SEBI requires ‘BRSR Core’ certification for certain listed businesses

Following the introduction of the idea of Core Business Responsibility and Sustainability Reporting (BRSR), the market regulator SEBI has now mandated certification of this unique ESG reporting structure. This obligatory assurance will be performed on ‘BRSR Core’ (key aspects of BRSR) in respect of the country’s top 150 listed businesses by market capitalisation.

SEBI has now amended its listing obligations and requirements for disclosure (LODR) regulations to allow it to define when this obligatory assurance norm would take effect and how such assurance must be obtained from time to time. The current SEBI initiative to require ‘BRSR Core’ assurance is likely to reassure investors, regulators, and major ESG rating organisations.

BRSR core highlights the key features of BRSR and sets 49 requirements for ESG reporting. The goal of BRSR is to have quantitative and standard disclosures on environment, social, and governance (ESG) criteria to allow for comparison across firms, sectors, and time. Such disclosures will assist investors in making smarter investment selections. According to the findings of a Deloitte India survey, nearly 75% of firms said their investors rate their ESG performance.