BRSR and BRSR Core reporting for listed companies in India

The Business Responsibility and Sustainability Report (BRSR) is part of the annual report of India's 1,000 largest listed companies. Its key indicators – BRSR Core – must be assessed or assured, on a glide path that reaches all 1,000 in FY 2026-27. VPA India prepares BRSR reports and BRSR Core data that stand up to that review, from the first applicability check to the assessor's sign-off.

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Who it is for

Listed companies in the top 1,000 by market capitalisation, which must file a BRSR.
Companies on SEBI's glide path for BRSR Core assessment or assurance.
Suppliers and customers of listed companies that are asked for value-chain data.
Unlisted companies that use the format for lenders, investors or customers.

What SEBI requires

BRSR. The top 1,000 listed companies by market capitalisation file a BRSR as part of their annual report, mandatory since FY 2022-23. The format has three sections – general disclosures, management and process disclosures, and principle-wise performance against the nine principles of the National Guidelines on Responsible Business Conduct, with essential and leadership indicators.
BRSR Core. A set of key indicators under nine attributes: greenhouse gas, water and energy footprints, waste and circularity, employee well-being and safety, gender diversity, inclusive development, fairness in engaging with customers and suppliers, and openness of business. Intensity figures use revenue adjusted for purchasing power parity (PPP).
Assessment or assurance. BRSR Core must be assessed or assured by the top 150 listed companies from FY 2023-24, the top 250 from FY 2024-25, the top 500 from FY 2025-26 and the top 1,000 from FY 2026-27.
Value chain. The top 250 can disclose BRSR Core data for their value-chain partners, voluntarily from FY 2025-26, with voluntary assessment or assurance from FY 2026-27.
Green credits. Since FY 2024-25, a leadership indicator under Principle 6 asks how many green credits the company and its top ten value-chain partners generated or procured.

How we work

Applicability. We check whether, and from which year, the BRSR, BRSR Core assessment or assurance and value-chain disclosures apply to you.
Gap analysis. We compare last year's report and data with the current format and SEBI's latest circulars.
Data map. Every indicator gets an owner, a definition, a source and a check, including the PPP-adjusted intensity figures.
Calculations. Scope 1 and 2 emissions, energy, water and waste figures, with the method recorded.
Drafting. We write the BRSR and its indicator tables for board review.
Readiness. We prepare a BRSR Core evidence pack and support the assessor or assurance provider through to sign-off.

What you receive

An applicability note and a gap analysis with priorities
Data-collection templates and an indicator dictionary
The draft BRSR in SEBI's format
A BRSR Core evidence pack, ready for assessment or assurance
A plan for value-chain data from your key suppliers and customers
A reporting calendar for the next cycle

Track record

Since January 2008, VPA India has worked on corporate sustainability reporting projects alongside its carbon-credit work, for clients in manufacturing, steel, cement, energy, petroleum, chemicals, pharmaceuticals, agriculture and forestry.

Frequently asked questions

What is the difference between assessment and assurance of BRSR Core?

SEBI lets each company choose. An assessment is carried out under standards of the Industry Standards Forum, developed in consultation with SEBI; SEBI made the choice profession-agnostic. Either way, the board must make sure the provider has the necessary expertise.

Which value-chain partners are covered?

For the top 250 listed companies, upstream and downstream partners that each account for 2% or more of purchases or sales by value. Disclosure can be limited to partners that together cover 75% of purchases and sales.

We are not listed. Can we use the BRSR format?

Yes. The format can be used voluntarily – for example when a listed customer asks for value-chain data, or when lenders and investors want information in a recognised Indian format. We size the work to what is asked.

How do green credits appear in the BRSR?

Under Principle 6, a leadership indicator asks how many green credits the company generated or procured, and how many its top ten value-chain partners did, from FY 2024-25 reports.

Sources

Securities and Exchange Board of India (SEBI), circular SEBI/HO/CFD/CMD-2/P/CIR/2021/562, "Business responsibility and sustainability reporting by listed entities", 10-May-2021 (sebi.gov.in).
SEBI, circular SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122, "BRSR Core – Framework for assurance and ESG disclosures for value chain", 12-Jul-2023, with Annexure I, format of BRSR Core (sebi.gov.in).
SEBI, circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2025/42, "Measures to facilitate ease of doing business with respect to framework for assurance or assessment, ESG disclosures for value chain, and introduction of voluntary disclosure on green credits", 28-Mar-2025 (sebi.gov.in).

Talk to us: WhatsApp +91 8905541120 · Call +91 8905541120 · inquiries@decarbonisation.expert · Send an enquiry (form)