Quantifying Non-Financial Data - An Analysis Of SEBI’s Business Responsibility And Sustainability Reporting (BRSR) Framework
- IJLLR Journal
- Oct 9
- 1 min read
Kezia Rasmi Jude, LL.M., O.P. Jindal Global University
ABSTRACT
The yardstick to measure the performance of a company has been evolving over the years beyond the quantifiable numbers disclosed in financial statements. The increasing emphasis on sustainability practices and ethical business conduct has increased the volume of qualitative performance measuring parameters in corporate disclosures and reporting. Traditional financial reporting offers only a partial picture of an organization's performance since it often overlooks Environmental, Social and Governance (ESG) factors that are just as important in the stakeholder-driven business environment of today. Investors no longer assess an entity exclusively based on its profitability margins and balance sheet numbers. There is a shift from shareholders perspective to stakeholders’ perspective. Embedding ESG into the core practices has proved beneficial for businesses globally owing to increased value creation and better access to financing. Regulators are also pushing companies to address sustainability issues by mandating disclosures on the sustainability efforts undertaken. In line with this, the Securities Exchange Board of India (SEBI) introduced the Business Responsibility Reporting (BRSR) framework where listed entities are mandated to make non-financial disclosures. By adhering to this framework, companies are encouraged to adopt responsible and sustainable business practices.
This research aims to critically analyse the BRSR framework, study its effectiveness for all stakeholders and compares BRSR to global reporting standards. The study draws from case studies to assess the practical gaps in ESG implementation and the role of regulatory support in enhancing sustainability reporting.
Keywords: Business Responsibility and Sustainability Reporting (BRSR), Securities Exchange Board of India (SEBI), Environmental, Social and Governance (ESG), Corporate Governance
