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Feb 27 2023

BRSR Reporting, Simplified | Why, What and How of Business Responsibility and Sustainability Reporting?

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BRSR Reporting, Simplified | Why, What and How of Business Responsibility and Sustainability Reporting?

If you're an Indian company, you've likely heard of BRSR – the Business Responsibility and Sustainability Report. It's a concept that's gaining traction, but often gets lost in a maze of compliance requirements and technical jargon. You're in a sweet spot here – we'll break it down for you in simple terms, so you can feast on a clearer understanding without any additional mental strain.

The Why of BRSR Reporting

There's much to brag about when it comes to BRSR reporting, even though the concept may seem contradictory at first glance. The sustainability story is riddled with these kinds of contrasts, and BRSR is no exception.

At its core, BRSR reporting is about transparency and accountability. By disclosing your environmental, social, and governance (ESG) performance, you demonstrate to stakeholders – investors, customers, regulators, and beyond – that you're taking your sustainability impacts and risks seriously.

But it's not just about ticking regulatory boxes. Robust BRSR reporting can unlock real business value by identifying operational inefficiencies, reputational risks, and opportunities for innovation. It's a powerful tool for driving continuous improvement and staying ahead of the curve.

The What of BRSR Reporting

So, what exactly is BRSR reporting? It's a comprehensive framework prescribed by the Securities and Exchange Board of India (SEBI) for listed companies to report on their ESG performance. This includes quantifying and disclosing metrics like greenhouse gas emissions, energy and water use, waste generation, diversity and inclusion, labor practices, and corporate governance.

The BRSR framework is based on the globally recognized GRI Standards and follows the principles of the National Guidelines on Responsible Business Conduct (NGRBC).

The How of BRSR Reporting

Implementing robust BRSR reporting typically involves these key steps: Define your reporting scope and boundaries

  • Identify material ESG topics based on stakeholder input and business impacts
  • Collect data on relevant ESG metrics and performance indicators
  • Analyze and interpret the data to identify trends, risks, and opportunities
  • Prepare and publish a comprehensive BRSR report, following SEBI guidelines and industry best practices
  • It's a data-intensive and cross-functional process, but one that yields invaluable insights into your organization's sustainability performance and its impact on the world around it.

While BRSR reporting may seem like a daunting task, it's quickly becoming the new normal for Indian listed companies. Regulators, investors, and consumers alike are demanding greater transparency and accountability on ESG issues.

Don't wait for nudges from stakeholders or competitors. Embrace BRSR reporting now, and position your organization as a leader in this rapidly evolving space. It's not just a regulatory requirement – it's a fundamental shift in how we measure and communicate progress towards a more sustainable future.

The sustainability journey is riddled with complexities and contradictions, but robust BRSR reporting offers a path forward – one grounded in transparency, accountability, and data-driven decision-making. It's time to get off the high horse of greenwashing and embrace this comprehensive approach to driving real, lasting change.

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