Governance Briefing — July 12, 2023
India's securities regulator mandated reasonable assurance on the BRSR Core for top listed entities, elevating board accountability for sustainability disclosures and supply-chain due diligence.
Executive briefing: On 12 July 2023 the Securities and Exchange Board of India (SEBI) issued a circular introducing the Business Responsibility and Sustainability Report (BRSR) Core framework. The circular requires the top 150 listed entities by market capitalisation to obtain reasonable assurance on select ESG metrics from FY 2023-24, expanding to the top 1,000 entities by FY 2026-27.
Key governance signals
- Board oversight. Boards must supervise BRSR Core preparation, assurance engagements, and remediation of findings.
- Supply-chain diligence. The framework introduces value-chain disclosures covering Scope 3 emissions, social impact, and governance expectations for key suppliers.
- Phased assurance. Reasonable assurance is mandatory for nine ESG indicators, demanding internal controls and evidence trails for sustainability data.
Action checklist
- Assign board-level responsibility for BRSR Core, including audit committee oversight of assurance engagements.
- Map data owners, controls, and documentation supporting BRSR Core metrics and value-chain disclosures.
- Engage suppliers to collect governance and ESG data, aligning contracts with SEBI reporting expectations.
Sources
Zeph Tech helps Indian issuers operationalise BRSR Core controls, supplier data programmes, and assurance readiness for SEBI oversight.