The Securities and Exchange Board of India (“SEBI”) Chairman Shri. Ajay Tayagi on 15th January, 2021 conducted a round-table and met industry representatives on Business Responsibility and Sustainability Reporting (“BRSR”). This was conducted in addition to the public consultation on the BRSR formats in order to gather views of stakeholders on the preparedness for disclosures, prior to finalization of the formats.
Key highlights of the round-table –
• The proposed format for BRSR aims at bringing in greater transparency through disclosure of material ESG-related information that would allow market participants to identify and assess sustainability-related risks and opportunities. This will in return will give a big fillip to transitioning towards sustainable investments and a sustainable economy.
• Discussions were also held around enhancing key environment, social and governance disclosures. Such disclosures are of importance to both investors and other stakeholders.
• The round-table was attended by senior-level participants from the industry, comprising of MD / CEOs, CFOs, along-with representatives from industry bodies (FICCI / CII / ASSOCHAM) and the fund management industry. The participants represented diverse sectors, including pharmaceutical, chemicals, textiles, power, aviation, consumer goods, IT, financial services, etc.
• The participants acknowledged that the ESG concerns are getting bigger in the corporate landscape today and SEBI’s initiative on revisiting the disclosures is critical and timely.
• The discussions held in the round-table will assist SEBI in finalizing the BRSR format.
Source : Securities and Exchange Board of India
