SEBI ESG
SEBI's regulatory framework governing ESG disclosure for listed Indian companies — including BRSR filing requirements, BRSR Core assurance mandates, and ESG rating provider regulations.
SEBI’s ESG regulatory framework covers multiple interconnected mandates for India’s listed companies. The primary instrument is BRSR (Business Responsibility and Sustainability Reporting), which replaced BRR from FY 2022–23 onwards for the top 1000 listed companies. SEBI also regulates ESG Rating Providers (ERPs) — agencies that rate listed companies on ESG performance — and has issued guidelines for ESG investing by mutual funds.
SEBI BRSR timeline
- FY 2022–23: BRSR mandatory for top 1000 listed companies
- FY 2023–24: BRSR Core (assured subset) mandatory for top 150 companies
- FY 2024–25: BRSR Core extended to top 250 companies
- FY 2025–26: BRSR Core extended to top 500 companies; value chain disclosures for top 250
SEBI and GHG emissions
SEBI’s BRSR framework requires Scope 1 and Scope 2 GHG emissions to be disclosed in tCO2e under Principle 6. For BRSR Core companies, these figures require third-party assurance. SEBI does not mandate a specific GHG accounting standard — GHG Protocol is the de facto standard used in India.
ESG rating implications
SEBI-regulated ESG Rating Providers use BRSR data as a primary input for their ratings. Companies with incomplete or unverified GHG data receive lower ESG scores, affecting investor perception and access to ESG-linked capital.