Q. Consider the following statements:
I. The Reserve Bank of India mandates all the listed companies in India to submit a Business Responsibility and Sustainability Report (BRSR).
II. In India, a company submitting a BRSR makes disclosures in the report that are largely non-financial in nature.
Which of the statements given above is/are correct?
Exp) Option b is the correct answer.
The Business Responsibility and Sustainability Report (BRSR) is an Indian reporting framework aimed at improving the disclosure of environmental, social, and governance (ESG) performance by listed companies.It traces its origins to the ‘Voluntary Guidelines on Corporate Social Responsibility’ introduced by the Ministry of Corporate Affairs in 2009.
Statement I is incorrect: As per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations),the Securities and Exchange Board of India (SEBI)(not RBI) requires the top 1,000 listed companies in India to submit a Business Responsibility and Sustainability Report (BRSR). This report includes disclosures on how these companies perform in relation to the nine principles outlined in the National Guidelines on Responsible Business Conduct.
Statement II is correct: The BRSR is a non-financial reporting framework that requires companies to disclose their performance on environmental, social, and governance (ESG) parameters based on nine principles of the National Guidelines on Responsible Business Conduct (NGRBC).
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