BRSR and ESG climate reporting in India: what companies must disclose
A plain guide to SEBI's BRSR and BRSR Core: who must file, the Principle 6 climate indicators including Scope 1 and 2 intensity, the assurance glide path, value chain rules, what it means for MSME suppliers, and how ESG reporting differs from CSR.
What is BRSR Core and the assurance glide path?
SEBI introduced BRSR Core through Circular SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122 dated 12 July 2023 (LODR amendment by Gazette notification dated 14 June 2023). BRSR Core is a subset of BRSR: a set of key performance indicators under nine ESG attributes:
- Greenhouse gas (GHG) footprint
- Water footprint
- Energy footprint
- Embracing circularity (waste management)
- Enhancing employee wellbeing and safety
- Enabling gender diversity in business
- Enabling inclusive development
- Fairness in engaging with customers and suppliers
- Openness of business
Some indicators are specific to India, such as job creation in smaller towns and gross wages paid to women.
The 2023 circular required reasonable assurance of BRSR Core. SEBI's Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2025/42 dated 28 March 2025 changed this to "assessment or assurance", where assessment means a third-party assessment under standards developed by the Industry Standards Forum (ISF) in consultation with SEBI. The glide path stayed the same:
| Financial year | BRSR Core assessment or assurance applies to |
|---|---|
| 2023-24 | Top 150 listed entities |
| 2024-25 | Top 250 listed entities |
| 2025-26 | Top 500 listed entities |
| 2026-27 | Top 1,000 listed entities |
The company's board must make sure the provider has the needed expertise and has no conflict of interest. For example, the provider and its associates should not sell consulting or other non-assurance services to the company or its group.
Sources: SEBI Circular SEBI/HO/CFD/CMD-2/P/CIR/2021/562, Business responsibility and sustainability reporting by listed entities (10 May 2021); SEBI Circular SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122, BRSR Core: Framework for assurance and ESG disclosures for value chain (12 July 2023); SEBI, Annexure I: Format of BRSR Core (July 2023); SEBI, Annexure II: Updated BRSR format (July 2023); SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2025/42, Measures to facilitate ease of doing business: assurance or assessment, ESG disclosures for value chain, green credits (28 March 2025); Companies Act, 2013, Section 135 (India Code); Ministry of Corporate Affairs, General Circular No. 14/2021: FAQs on CSR; GHG Protocol Corporate Accounting and Reporting Standard (WRI/WBCSD); EcoVadis Sustainability Rating Methodology disclosure document (2026); CDP Supply Chain programme
This article was prepared with AI assistance and checked by the GreenEye team against the sources shown in each section.
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