BSE vide 20240510-48 dated May 10, 2024 and NSE vide NSE/CML/2024/11 dated May 10, 2024 have addressed FAQs w.r.t business responsibility and sustainability report (“BRSR”) filing.
Key points of the circular are as follows:
- Top 1000 listed entities based on market capitalization are required to mandatorily submit BRSR. Accordingly, companies shall continue to comply with the requirement even if they fall below such thresholds;
- If the listed Company is in the top 1000 market capitalization list on any Exchange, then the listed Company is required to file BRSR with both the Exchanges;
- Listed entities who do not form part of top 1000 listed entities can voluntarily submit the BRSR. Top 150 listed entities based on market capitalization are required to mandatorily obtain reasonable assurance of BRSR Code. This is mandatorily to be submitted with the Exchanges;
- BRSR need to be summitted on the same day of submission of Annual Report;
- In relation to companies that prepare sustainability reports based on Internationally Accepted Reporting Frameworks, cross-referencing of disclosures to the disclosures sought under the BRSR can be provided to avoid repetition in the Annual Report;
- BRSR filled can be revised and company need to submit covering letter wherein changes are mentioned.
The Circulars also specifies the disclosure requirements for the companies to ensure that useful information is available to the investors.
For detailed discussion on the above topic, please feel free to contact devadhaantu@devadhaantu.in
