India's FY2025-26 (FY26) reporting season for BRSR (Business Responsibility and Sustainability Report) is progressing. As listed companies, including banks, continue filing BRSR reports, the framework established by the Securities and Exchange Board of India (SEBI) is becoming embedded as the foundation of the country's sustainability reporting.
Regulatory Framework
SEBI formally introduced the BRSR framework through its circular dated May 10, 2021 (SEBI/HO/CFD/CMD-2/P/CIR/2021/562). BRSR is a disclosure framework based on the nine principles of the National Guidelines on Responsible Business Conduct (NGRBC), requiring companies to report structured information on environmental, social, and governance matters. For the top 1,000 listed companies by market capitalization, BRSR filing has been mandatory since FY2022-23.
Reporting Season Under Way
In the FY26 reporting cycle, listed companies including banks are proceeding with BRSR submissions. By requiring ESG information to be disclosed in comparable form, BRSR functions as a mechanism for viewing non-financial information across India's major companies.
Implications for Procurement and Supply Chains
BRSR has become the backbone of ESG disclosure for large Indian companies. For global companies with production sites or suppliers in India, it also provides a way to understand counterparties' sustainability information. As disclosure across the full value chain strengthens globally, the practical question is how to incorporate Indian BRSR data into procurement and supply chain management.