Journal Press India^®

It is great to know that the theme of the “XXV Annual International Seminar” scheduled to be held from June 3 to 4, 2023 is based on the main theme: “Business Responsibility and Sustainability Reporting,” along with the sub-themes of

1. Responsible Investment
2. Responsible Production
3. Responsible Consumption
4. Sustainability Reporting and ESG
5. Research paper presentations on Contemporary Issues.

Each one of us needs to be more responsible in whatever we think, consume, save, invest, produce, and report. The reporting formats for listed companies have evolved over a period particularly keeping in mind the UN Sustainable Development goals.

“With sustainable development and the climate change movement gaining momentum, the sustainability reporting landscape is changing rapidly around the globe. The push from investors has further accelerated this movement, and it is now incumbent on companies to report their sustainability performance to maintain transparency with stakeholders. Sustainability reporting frameworks have evolved and companies worldwide have adopted these frameworks for measuring, monitoring, and disclosing performance in areas related to environmental, social, and governance (ESG). Global ESG/sustainability disclosures and frameworks such as the Global Reporting Initiative (GRI), Integrated Reporting, Sustainability Accounting Standards Board (SASB), United Nations Global Compact (UNGC), and CDP require businesses to disclose their sustainability performance as per the respective key performance indicators (KPIs) and principles. ISO 26000 offers voluntary guidance on social responsibility. Many countries around the world have introduced and mandated some form of ESG-related disclosures.” https://www.pwc.in/assets/pdfs/consulting/esg/business-responsibility-and-sustainability-report.pdf

The Companies Act 2013 has brought a landmark initiative of Corporate Social Responsibility which is evolving and maturing in real terms on the ground and the regulatory framework is making them more accountable. “The Securities and Exchange Board of India (SEBI), in its continued efforts to enhance disclosures on ESG standards, introduced new requirements for sustainability reporting by listed companies. The new reporting format named, Business Responsibility and Sustainability Report (BRSR), aims to establish links between the financial results of a business with its ESG performance. This can make it easier for regulators and investors, and allied stakeholders to obtain a fair estimate of overall business stability, growth, and sustainability (hitherto based on financial disclosures alone). SEBI has mandated that the BRSR will apply to the top 1,000 listed entities (by market capitalization) for reporting voluntarily for FY2021-22 and on a mandatory basis from FY2022-23. The BRSR requirements are based on the National Guidelines for Responsible Business Conduct (NGRBC),” https://www2.deloitte.com/in/en/pages/finance/articles/business-responsibility-and-sustainability-report.html.

– Prof. Ajay Kumar Singh

Editor-in-Chief – DBR