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Tuesday, September 29, 2020

Business responsibility report: Panel recommends two formats

The panel which recommended that the report be renamed the Business Responsibility and Sustainability Report (BRSR) recommended that the 1,000 largest listed companies file a comprehensive BRSR with smaller unlisted companies needing to file a “lite” version of the report.

By: ENS Economic Bureau | New Delhi | Updated: August 14, 2020 2:21:11 am
“The endeavour of the committee has been to ensure that the BRSR reporting format would serve as a single source for all non-financial disclosures,“ said the report. (File)

A government panel has proposed a revision of the current requirement of business responsibility reporting to a two format reporting system aimed at implementing comprehensive sustainability and business responsibility reporting for all companies in a phased manner.

The panel which recommended that the report be renamed the Business Responsibility and Sustainability Report (BRSR) recommended that the 1,000 largest listed companies file a comprehensive BRSR with smaller unlisted companies needing to file a “lite” version of the report.

The proposed reporting format requires enhanced reporting including on details on the proportion of women and disabled peopled employed at companies as well as their average remunerations besides details of corporate social responsibility (CSR) activity by the company and list of beneficiaries of CSR activities.

“The endeavour of the committee has been to ensure that the BRSR reporting format would serve as a single source for all non-financial disclosures,“ said the report.

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