CAIRR Update May 13, 2024

13/05/2024

Summary of the BSE and NSE Circulars dated 10/05/2024.

FAQs and general observations based on filing of Business Responsibility and Sustainability Report (“BRSR”) by top 1000 listed entities based on market capitalization 

BSE and NSE have addressed certain FAQs w.r.t. BRSR filing, collated certain observations and inconsistencies based on the filings undertaken in the FY 2022-23. 

Key points of the circular are as below: 

1. Top 1000 listed entities based on market capitalization are required to mandatorily submit BRSR. Companies shall continue to comply with the requirement even if they fall below such thresholds. The list for the top 1000 listed entities as on March 31, 2024 is provided in the circular.
2. The listed entities who do not form part of top 1000 listed entities can voluntarily submit the BRSR.
3. Further, top 150 listed entities based on market capitalization are required to mandatorily obtain reasonable assurance of BRSR Core. Also, a copy of Reasonable Assurance Certificate is mandatorily to be attached along with the BRSR while submitting PDF & Annual Report with the Exchanges.
4. BRSR needs to be submitted in both PDF and XBRL mode on the same day of submission of Annual Report with the Exchanges and the path for the submission is mentioned in the Circular.
5. In case of companies that prepare Sustainability reports based on Internationally Accepted Reporting Frameworks, cross-referencing of disclosures made under such framework can be provided to avoid repetition in the Annual Report.