BRSR CORE ASSURANCE & DISCLOSURE

August 4, 2023

BRSR CORE ASSURANCE & DISCLOSURE

SEBI has come up with Circular No. SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122 dated 12^th July 2023 where it has revised format of BRSR and provided glidepath for implementation of BRSR Core Assurance for listed entities as well as Value Chain partners. Following table can be referred for 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 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 w.r.t. Accounts payable and Openness of business added alongwith format
3	Section C: Principle 3	Details of spending on measures towards wellbeing of employees & workers to be mentioned
4	Section C: Principle 5	% comparison of Gross wages to females and POSH Complaints details are added
5	Section C: Principle 6	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
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 in essential indicators & removed from leadership indicator.