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Table of Content

Posted 25 Apr 2024

Updated 30 Apr 2024

2 min read

  • The report analyses how companies are adapting to the Business Responsibility and Sustainability Reporting (BRSR) disclosures mandated by the Securities and Exchange Board of India (SEBI).
  • The BRSR framework is a mandatory disclosure mechanism (from FY 2022–23) for the top 1000 listed companies or businesses to report their performance on environmental, social and governance (ESG) aspects.
    • SEBI’s guidance document provides details on three kinds of disclosures—general, management and process, and “principle wise” (principle-based).
  • BRSR is aimed at improving compliance, consistency and communication around non-financial disclosures.
  • SEBI also introduced BRSR Core in 2023 to enhance the reliability of ESG disclosures.
    • BRSR Core represents a subset of the comprehensive BRSR and includes a specific set of key performance indicators (KPIs) / metrics across ESG attributes.

 

  • Significance: 
    • Transparency: BRSR enables investors, stakeholders, and the public to assess a company’s sustainability efforts related to ESG aspects.
    • Strong brand positioning: Embracing sustainability as a key pillar of operating practices increases the brand value of a company 
    • Increase value creation: Companies integrating sustainability outperform peers, ensuring a competitive edge, and higher enterprise value compared to those resistant to change.

 

Key findings

  • 51 out of 100 companies (Nifty 50 companies and NEXT 50 listed companies) analysed disclosed their Scope 3 data for FY23 despite it being a voluntary disclosure in the BRSR
    • Scope 1 (direct emissions) and Scope 2 (indirect emissions from purchased electricity, heat, or steam) 
    • Scope 3 emissions (indirect GHG emissions that occur outside of the organization) 
  • 34% of the companies have reduced their Scope 1 emissions and 29% have reduced their Scope 2 emissions
  • 49% of companies have increased their energy consumption from renewable sources
  • Tags :
  • ESG
  • SEBI
  • Business Responsibility and Sustainability Reporting

Articles Sources

https://www.pwc.in/press-releases/2024/51-of-indias-top-100-listed-companies-disclosed-their-scope-3
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