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Reporting - BRSR, GRI, SASB

ESG reporting has become a critical tool for organizations to demonstrate their commitment to sustainability, transparency, and accountability. By providing insights into Environmental, Social, and Governance (ESG) performance, businesses can align with stakeholder expectations, comply with regulatory requirements, and enhance their long-term resilience.

Key frameworks such as BRSR (Business Responsibility and Sustainability Reporting), GRI (Global Reporting Initiative), and SASB (Sustainability Accounting Standards Board) play a pivotal role in guiding ESG reporting.

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  • BRSR focuses on aligning business practices with sustainability principles, specifically tailored to meet regulatory standards in India.
  • GRI offers a global framework for comprehensive and standardized ESG disclosures, addressing environmental, social, and governance topics relevant to a wide range of stakeholders.
  • SASB emphasizes industry-specific metrics, enabling companies to report on ESG issues that are financially material to their sector.

SEBI BRSR (Business Responsibility and Sustainability Reporting) – India

Regulatory Framework:

• Established by the Securities and Exchange Board of India (SEBI).
• Effective from FY 2022-23 for the top 1,000 listed companies based on market capitalization.
• Mandatory for large corporations, while optional for others.





Disclosure Requirements:

Companies must report ESG-related information across three key categories:

• Company Profile & Operations – Business details, ownership structure, and supply chain overview.
• ESG Governance & Policies – Governance framework, sustainability policies, and oversight mechanisms.
• Sustainability Performance Metrics – Indicators aligned with India’s 9 ESG Principles under the National Guidelines on Responsible Business Conduct (NGRBC).

Significance:

• Improves corporate transparency on ESG factors.
• Enables investors to evaluate sustainability risks and opportunities.
• Promotes corporate accountability in environmental and social governance.




GRI: Global Reporting Initiative

The Global Reporting Initiative (GRI) is a leading sustainability reporting framework that enables organizations to report on their economic, environmental, and social impacts.
• Founded in 1997 to promote corporate transparency.
• Adopted by 10,000+ organizations globally for ESG disclosures.
• Aligned with international regulations, including EU CSRD, SEBI BRSR, and SEC Climate Disclosure.

SASB (Sustainability Accounting Standards Board)

Overview:

  • Founded in 2011; now part of ISSB (since 2022).
  • Provides industry-specific sustainability accounting standards.
  • Focuses on financial materiality—i.e., ESG factors that impact a company’s financial performance

ESG Reporting Process with GRI

  • Define the objectives of ESG reporting.
  • Identify key stakeholders, including investors, customers, employees, and regulators.
  • Conduct a materiality assessment to determine ESG topics relevant to the business and stakeholders.
  • Use GRI 3 to prioritize material topics.
  • Gather qualitative and quantitative data on identified ESG topics.
  • Utilize GRI indicators to measure impacts effectively.
  • Follow GRI Universal and Topic Standards for structuring the report.
  • Include governance, environmental, and social disclosures.
  • Obtain third-party assurance to enhance credibility.

ESG Reporting Process Using SASB

  • Determine the applicable SASB standards based on the company’s industry.
  • Use the SASB Materiality Map to identify relevant ESG topics.
  • Focus on ESG factors that directly impact financial performance.
  • Align ESG risks and opportunities with business strategy and investor expectations.
  • Gather quantitative and qualitative data on key ESG metrics.
  • Use SASB disclosure topics and accounting metrics to ensure consistency.
  • Integrate SASB disclosures into annual reports, sustainability reports, or SEC filings.
  • Ensure alignment with other ESG frameworks (e.g., TCFD, GRI, ISSB).
  • Conduct internal audits or seek third-party verification for data accuracy.
  • Continuously refine ESG strategies based on stakeholder feedback and evolving standards.