BUSINESS RESPONSIBILITY REPORTING
Business Responsibility refers to the commitment of an enterprise to operate in an economic, social and environment sustainable manner while balancing the interests of diverse stakeholders. It is a disclosure of adoption of responsible business practices by a listed company to all its stakeholders. This is important considering the fact that these companies have accessed funds from the public, have an element of public interest involved, and are obligated to make exhaustive disclosures on a regular basis.
As per Clause 55 of the Equity Listing Agreement, it is mandatory for top 100 entities short listed by BSE and NSE based on Market Capitalization as on 31st March, 2012 to include BR Reports as part of the Annual Reports w.e.f financial year ending on or after December 31, 2012.
The BR reporting requirement is in line with the 'National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)' notified by Ministry of Corporate Affairs, Government of India.
CORPORATE SUSTAINABILITY REPORTING
Indian and Global Sustainability Frameworks:
Following are the frameworks which the Sustainability Framework addresses:
◉ Environmental legal requirements, laid down by the Govt. of India Occupational, Health & Safety legal requirements, laid down by the Govt. of India Social legal requirements, laid down by the Govt. of India Corporate level EHS&S requirements, if any