Sustainability Reporting Standards Board
The Institute of Chartered Accountants of India
(Set up by an Act of Parliament)

Background Material On Business Responsibility And Sustainability Reporting

Sustainability Reporting is an overview of a company’s economic, environmental and social impacts, caused by everyday business operations and activities. Sustainability Reporting has come to the mainstream of businesses because stakeholders demand business accountability for their social and environmental impacts as well. It ensures that the organisations consider their impacts on sustainability issues and enables them to be transparent about the risks and opportunities they face. In recent years, sustainability reporting has become a very important part of Integrated Reporting, which combines financial and non-financial parameters. In view of the current pandemic situation the importance of sustainability reporting has again reinforced interest amongst the stakeholders. This growing awareness amongst stakeholders across the globe calls for businesses to report actions, impacts and outcomes of their operations especially of the negative impact of their operations. Further, governmental regulation on environment, social and governance (ESG) issues have heightened to protect rights of citizens and the environment.

There are various international and local frameworks used by organisations across the globe for their corporate sustainability reporting. In November 2018, the Ministry of Corporate Affairs (MCA) constituted a Committee on Business Responsibility Reporting for finalising Business Responsibility Reporting formats for listed and unlisted companies, based on the framework of the National Guidelines for Responsible Business Conduct’ (NGRBCs). In August 2020, the Committee addressed various aspects and issues that could improve the quality and utility of disclosures and recommended Business Responsibility and Sustainability Reporting (BRSR) as an update on the existing Business Responsibility Reporting (BRR) to incorporate the current global practices in non-financial sustainability reporting based on the NGRBCs.

Sustainability Reporting Standards Board (SRSB) of ICAI is proactively working for increasing awareness and implementing measures towards enhancing responsible business conduct. In this regard, SRSB is bringing out this “Background Material on Business Responsibility and Sustainability Reporting (BRSR)” to provide necessary guidance and in-depth knowledge of this area for Background Material on Business Responsibility and Sustainability Reporting 4 the benefit of all the members and other stakeholders at large. I congratulate CA. (Dr.) Sanjeev Kumar Singhal, Chairman, CA. Durgesh Kumar Kabra, ViceChairman and all members of the Sustainability Reporting Standards Board of ICAI for their immense efforts and contribution towards bringing out this publication for the benefit of members and other stakeholders.

I am sure that this publication would be extremely helpful for the members and other stakeholders, to upskill and gain competitive advantage for addressing sustainability opportunities and challenges in their diverse roles.

February 9, 2021
New Delhi

CA. Atul Kumar Gupta
President, ICAI

Download Background Material On Business Responsibility And Sustainability Reporting


More Under CA, CS, CMA

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

February 2021