From BRR to BRSR – Standardisation is the Need of the Hour

The objective of this research is to highlight the comparative analysis of Business Responsibility Report (BRR) vis-à-vis Business Responsibility and Sustainability Report (BRSR) as India’s sustainability regulatory standards are evolving with an increased focus on quantitative ESG indicators (BRSR) rather than qualitative ones in-case of BRR. The report also offers an indicator level analysis of BRSR vis-à-vis Global Reporting Initiative (GRI), current position and transparency of various industry sectors of India in terms of overall ESG reporting.

The main highlights of this research are:

1. It was observed that despite the repeated emphasis and mandate laid since 2012 on mandatory BRR reporting by companies, companies still don’t report per the existing BRR framework and lack effective and efficient reporting.

2. The lowest average in reporting can be observed for Task Force on Climate-Related Financial Disclosures (TCFD) & Science Based Targets initiative (SBTi) reporting by maximum companies.

3. Additionally, it can be observed that there has been an inclination towards only integrated reporting in companies instead of undertaking separate sustainable and integrated reporting, which is more detailed and easier for investors to assess.

4. Various sectors neglect voluntary Carbon Disclosure Project (CDP) reporting and hence, need to be given more attention compared to international peers who efficiently disclose to CDP.

5. One of the most environmentally polluting sectors, Energy and Industry, are the laggards to overall ESG reporting

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