The board of the Securities and Exchange Board (SEBI) mandated listed companies to submit Business Responsibility Reports, describing measures taken along the key principles enunciated in the ‘National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business’ framed by the Ministry of Corporate Affairs (MCA). This requirement is initially only applicable to the top 500 companies in terms of market capitalization, and will be extended to other companies in phases. Its Clause 55 requires companies to engage in a thorough E&S reporting process. It also encourages all companies to abide by the disclosure requirements and is based on a ‘comply or explain’ principle.
Industry sectors covered by the instrument
Organizations covered by the instrument
Large listed companies
Type of instrument
Mandatory or voluntary
The geographical scope