SEBI’s new BRSR Core Framework for ESG Disclosures
In order to ensure that companies are mindful of how they are integrating their value chain into the sustainability and ESG policies of their organization, SEBI has introduced the BRSR Core Framework for assurance and ESG disclosures for top 1000 companies in a phase-wise manner in the next three financial years. The framework has been introduced as the sustainability targets reached by the organization from their business operations fail to percolate down to their value chain. Experts however say the added framework would increase the compliance burden on the companies.
The BRSR Core is a sub-set of the BRSR, consisting of a set of Key Performance Indicators (KPIs) / metrics under 9 ESG attributes. Keeping in view the relevance to the Indian / Emerging market context, few new KPIs have been identified for assurance such as job creation in small towns, open-ness of business, gross wages paid to women etc.
The format of BRSR Core for reasonable assurance is placed at Annexure I below.
The BRSR format after incorporating new KPIs of BRSR Core is placed as Annexure II below.
