The Securities and Exchange Board of India, (SEBI) on July 12, 2023, issued the Circular regarding the BRSR Core - Framework for assurance and ESG disclosures for the value chain
The following has been stated namely: -
• It states that this circular shall be applicable From FY 2023 –2024, the top 1000 listed entities (by market capitalization) shall make disclosures as per the updated BRSR format as part of their annual Reports.
• It states that the Board of the listed entity shall ensure that the assurance provider of the BRSR Core has the necessary expertise, for undertaking reasonable assurance.
• The listed entity shall ensure that there is no conflict of interest with the assurance provider appointed for assuring the BRSR Core. For instance, it shall be ensured that the assurance provider or any of its associates do not sell its products or provide any non-audit / non-assurance related service including consulting services, to the listed entity or its group entities.
• It states that the ESG disclosures for the value chain shall be applicable to the top 250 listed entities (by market capitalization), on a comply-or-explain basis from FY 2024-25, and the limited assurance shall be applicable on a comply-or-explain basis from FY 2025-2
• It states that the Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities and also disseminate the same on their websites.
[Circular No. SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122]
