The Curious Incident of Discovering India

Basically there isn’t any official regulation in India that could be compared to the European CSRD in ambition or coverage. Yet, the Securities and Exchange Board of India (SEBI) has been working in the past decade on building and enforcing business responsibility reporting into its mandatory requirements, but the adoption rate remained rather low. Earlier this year, driven by the need to meet India’s NDCs and align the economy to them, SEBI introduced <a href="https://www.sebi.gov.in/legal/circulars/jul-2023/brsr-core-framework-for-assurance-and-esg-disclosures-for-value-chain_73854.html" rel="noopener ugc nofollow" target="_blank">BRSR Core</a>, an enhanced set of non-financial metrics public companies should disclose. I must say that I only gave a superficial read to the <a href="https://www.sebi.gov.in/sebi_data/commondocs/jul-2023/Annexure_II-Updated-BRSR_p.PDF" rel="noopener ugc nofollow" target="_blank">KPIs</a>, but my conclusion is that they’re pretty similar to well-known reporting frameworks, and that the GHG reporting is limited to only Scope 1 & 2 (the wet dream of many corporations regulated by the SEC), no Scope 3 at all. This is quite irritating but, trying to see the full half of the Massala chai pot, the rate of industrial companies in India is higher than the US, and for those companies, Scope 1 & 2 have higher significance than financial services companies. Anyway, in the course of the next 5 years SEBI expects the top 1000 public companies by market capitalization to provide approved reports on their ESG performance. <a href="https://medium.com/@matanrudis/the-curious-incident-of-discovering-india-d55b5543284d">Read More</a>