Source: The post is based on the article “IICA-UNICEF conducts workshop on Business Responsibility & Sustainability Reporting (BRSR)” published in “PIB” on 27th September 2023.
What is the News?
The Indian Institute of Corporate Affairs (IICA) through its School of Business Environment (SoBE), in collaboration with UNICEF, organized a one-day workshop on Business Responsibility & Sustainability Reporting (BRSR) in New Delhi.
What is Business Responsibility and Sustainability Reporting(BRSR)?
The Business Responsibility and Sustainability Reporting (BRSR) framework was introduced by SEBI in 2021.
The framework is a mandatory disclosure mechanism for top 1000 listed companies or businesses to report their performance on environmental, social and governance (ESG) aspects and demonstrate their commitment to responsible business practices.
Principles: BRSR is rooted in the nine principles outlined in the National Guidelines for Responsible Business Conduct (NGRBC).The nine principles are:
– Businesses should conduct and govern themselves with integrity in a manner that is Ethical, Transparent and Accountable.
– Businesses should provide goods and services in a manner that is sustainable and safe.
– Businesses should respect and promote the well-being of all employees, including those in their value chains.
– Businesses should respect the interests of and be responsive to all their stakeholders.
– Businesses should respect and promote human rights.
– Businesses should respect and make efforts to protect and restore the environment.
– Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent.
– Businesses should promote inclusive growth and equitable development.
– Businesses should engage with and provide value to their consumers in a responsible manner.
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