Business Responsibility And Sustainability Report (BRSR) Indicator Verification

WHAT IS SUSTAINABILITY DISCLOSURE VERIFICATION?

The assurance of sustainability disclosure is a process of verification of processes and information disclosed by an organisation. It is normally done using the Business Responsibility and Sustainability Report (BRSR) framework for disclosing information in Principle 6 for Leadership & Essential indicators. Principle-6 asks for information about “if any independent assessment/ evaluation/assurance has been carried out by an external agency.

India is actively addressing the escalating Environmental, Social, and Governance (ESG) concerns and sustainability matters by enforcing stringent regulatory measures. This includes requiring Business Responsibility and Sustainability Reports (BRSR) for the top 1,000 listed companies and enhancing oversight of third-party verification for sustainability disclosures. These actions aim to counteract "Sustainability Whitewashing," the practice of companies exaggerating or distorting their environmental efforts, fostering transparency and accountability in sustainability reporting.

WHY IS BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORTING (BRSR) IMPORTANT?

Business Responsibility & Sustainability Report (BRSR) is a disclosure framework, the first Big Step in mandatory ESG reporting in India. Since 2009, the reporting framework transitioned through Business Responsibility Reporting (BRR), Corporate Social Responsibility (CSR), IR, National Guidelines on Responsible Business Conduct (NGRBC), and now Business Responsibility and Sustainability Report (BRSR) is 9 Principles based Performance Disclosure, Essential & Leadership Indicators.

The BRSR reporting format aims to create a standardised format for ESG reporting, making it easier for regulators, investors, and allied stakeholders to obtain a fair estimate of overall business stability, growth, and sustainability.

Understanding the Core framework of brsr

The BRSR Core framework, mandated by the Securities and Exchange Board of India (SEBI), is a voluntary reporting initiative to foster transparency and accountability in corporate sustainability endeavours. It offers a structured approach for organisations to disclose their Environmental, Social, and Governance (ESG) performance, enabling stakeholders to make well-informed decisions and foster positive change.

BRSR

COMPREHENSIVE VERIFICATION SERVICES

At TÜV SÜD, we recognise the pivotal role of transparent and accurate reporting in today's corporate landscape. Our Business Responsibility and Sustainability Reporting (BRSR) Core Verification services are designed to assist organisations in navigating the BRSR Core framework effectively and efficiently, ensuring compliance, credibility, and impactful sustainability practices.

We offer comprehensive verification services tailored to meet the specific requirements of the BRSR Core framework. Our seasoned professionals collaborate closely with clients to ensure accurate and reliable reporting, providing valuable insights to support their sustainability goals.

Reasonable Assurance Services

In alignment with SEBI's proposed timeline for enforcement of mandates, TÜV SÜD offers Reasonable Assurance services tailored to meet the evolving needs of organisations. Our Reasonable Assurance services provide a high level of confidence in sustainability reporting, ensuring compliance with regulatory requirements and fostering stakeholder trust.

Key features of our services include:

Expertise: Leveraging our team's extensive experience in sustainability reporting and verification to ensure thorough assessments and reliable results
Tailored Solutions: Customizing verification services to address unique organisational needs and challenges, providing personalized solutions for maximum impact
Compliance Assurance: Conducting comprehensive reviews of data and documentation to ensure compliance with BRSR Core framework and regulatory requirements
Transparent Reporting: Delivering transparent and objective verification reports, outlining assessment findings and areas for improvement clearly and concisely
Continuous Support: Offering ongoing guidance and assistance throughout the verification process and beyond, supporting organisations in enhancing their sustainability performance over time

METHODOLOGY FOR BRSR CORE VERIFICATION

Our verification methodology is meticulously crafted to ensure thorough assessment and reliable results. From pre-verification preparation to continuous improvement, we guide organisations through each process step, fostering transparency, accuracy, and compliance with regulatory standards.

Your benefits at a glance

The business responsibility and sustainability report provide numerous benefits that contribute to a company's long-term success, reputation, and stakeholder relationships, such as:

Increase trust – the assurance of a report is a process that evaluates the compliance of the Sustainability Report to the guideline through a limited assurance process
Increased consumer loyalty – the stakeholders will increase trust by reading the information in the organisation’s Sustainability Report
ESG impact and financial institutions – showing the information in a report may increase the opportunity to reach a better score when dealing with financial institutions and their impact analysis on ESG
Action plan – the assurance of the sustainability report supports companies to validate also the process of stakeholder engagement and identification of relevant topics

WHY CHOOSE TÜV SÜD FOR BRSR CORE VERIFICATION?

Global Reputation: Benefit from our trusted leadership in testing, inspection, and certification services, backed by a global presence and a reputation for excellence
Technical Excellence: Rely on our technical expertise and industry knowledge to deliver high-quality verification services that meet the highest standards of accuracy and reliability
Client-Centric Approach: Prioritize your organisation's needs and objectives, offering personalized solutions and superior customer service to ensure satisfaction
Commitment to Sustainability: Partner with us in driving positive change in the world, as sustainability lies at the heart of everything, we do at TÜV SÜD

Frequently Asked Questions

What are the key features of BRSR?
The key features of BRSR (Business Responsibility and Sustainability Reporting) are:
- Nine Principles: BRSR is based on nine principles that cover various aspects of sustainability, including governance, environment, social, customer, supply chain, and human rights.
- Comply or Explain: The BRSR framework is based on the principle of "comply or explain," meaning that listed companies in India are required to adopt sustainable business practices and disclose information related to their ESG performance or explain why they have not done so.
- Quantitative Metrics: BRSR requires the reporting of quantitative metrics, which makes it more quantitative than the previous reporting standard, BRR (Business Responsibility Reporting).
- Diversity and Ethics Focus: BRSR has a deeper focus on diversity and ethics, requiring details on gender ratios in the workforce and business ethics training for staff.
- Performance Disclosure: The Principle-wise Performance Disclosure section of the BRSR framework is designed to help entities integrate sustainable and responsible practices into their business operations.
- Voluntary Reporting: BRSR reporting is voluntary, but it is a mandatory reporting requirement for all listed entities in India.
The BRSR reporting format typically includes information about a company's sustainability goals, initiatives, and performance.
What is Business Responsibility and Sustainability report BRSR

The Business Responsibility and Sustainability Report (BRSR) is a reporting format introduced by the Securities and Exchange Board of India (SEBI) to enhance disclosures on Environment, Social and Governance (ESG) standards by listed companies. The BRSR aims to establish links between the financial results of a business with its ESG performance and requires Indian companies to provide quantitative metrics on sustainability-related factors.

BRSR Sustainability Indicator Verification