September 15, 2023
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BRSR CORE ASSURANCE & DISCLOSURE
SEBI has come up with Circular No. SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122 dated 12th July 2023 where it has revised the format of BRSR and provided glide-path for implementation of BRSR Core Assurance for listed entities as well as Value Chain partners. The following table can be referred for an easy understanding of the applicability.
Applicability of BRSR Core Assurance:
| Category | FY | BRSR | BRSR Core Assurance | Applicability |
| Listed Entity | 2023-24 | Top 1000 Listed Entities | Top 150 Listed Entities | Mandatory |
| Listed Entity | 2024-25 | Top 1000 Listed Entities | Top 250 Listed Entities | Mandatory |
| Listed Entity | 2025-26 | Top 1000 Listed Entities | Top 500 Listed Entities | Mandatory |
| Listed Entity | 2026-27 | Top 1000 Listed Entities | Top 1000 Listed Entities | Mandatory |
Applicability of Disclosure and Assurance for Value Chain:
| Category | FY | BRSR Core Disclosure in Annual Report of Listed Entity | BRSR Core Assurance | Applicability |
| Value Chain partners of Listed entity (Top upstream and downstream Value chain partners constituting 75% of its purchases/sales by value) | 2024-25 | Top 250 Listed Entities | NA | Comply or explain the basis |
| Value Chain partners of Listed entity (Top upstream and downstream Value chain partners constituting 75% of its purchases/sales by value) | 2025-26 | Top 250 Listed Entities | Top 250 Listed Entities | Comply or explain basis |
BRSR Core Assurance Provider:
- BRSR Core Assurance is to be obtained from Independent Party
- Provider shall have necessary expertise
- Provide shall not have conflict of interest
- Shall not be selling product to entity or group entities
- Shall not be providing Non-Audit or Non-Assurance related services including consulting services
Changes in Revised Format of BRSR:
| Sr. No. | Headings | Key Changes/Additions |
| 1 | Section A: General Disclosures | Details w.r.t. Assurance Provider and Type of Assurance added |
| 2 | Section C: Principle 1 | Details of spending on measures towards the wellbeing of employees & workers to be mentioned |
| 3 | Section C: Principle 3 | Details w.r.t. following added Bifurcation of renewable and non-renewable energy to be given separately. Details w.r.t. water intensity and water discharged are addedGreenHouse Gas Emissions (Scope1 & Scope2) related Waste Intensity related |
| 4 | Section C: Principle 5 | % comparison of Gross wages to females and POSH Complaints details are added |
| 5 | Section C: Principle 6 | Information relating to data breaches is added in essential indicators & removed from leadership indicators. |
| 6 | Section C: Principle 8 | Details w.r.t. sourcing of input material has been widened from districts to IndiaDetails Job Creation in small towns related added |
| 7 | Section C: Principle 9 | Information relating to data breaches is added to essential indicators & removed from leadership indicators. |
Formats:
https://www.sebi.gov.in/sebi_data/commondocs/jul-2023/Annexure_I-Format-of-BRSR-Core_p.pdf
https://www.sebi.gov.in/sebi_data/commondocs/jul-2023/Annexure_II-Updated-BRSR_p.PDF
Note: Entities that have been mandated for BRSR reporting in earlier years by market capitalization will continue with applicable compliances