How can we assist in your digital excellence journey
Connect with us
Get more updates and further details about your project right in your mailbox.
The best time to establish protocols with your clients is when you onboard them.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
As climate change is raging havoc across the globe it is becoming eminent the global ask of holding corporations accountable is growing louder. Over the past 30-40 years various policies have been framed globally to help guide these corporations streamline their process in a manner which will result in profits without doing an irreparable damage to the planet. This journey which started in the west is now knocking the doors of developing nations such as India. Thus, India’s journey toward sustainable development is rapidly evolving.
The growing awareness about climate change and social responsibility has led the concept of Environmental, Social, and Governance (ESG) to take the center stage among businesses, regulators, and the public alike. This encouraged the Securities and Exchange Board of India (SEBI) to introduce mandatory Business Responsibility and Sustainability Reporting(BRSR) for the top 1000 listed companies.
The BRSR framework is an evolution of the existing Business Responsibility Report (BRR)requirements and aims to drive the integration of sustainability into core business strategies. A part of these guidelines have been linked with the mandatory compliance reporting from the organizations. However, organizations are facing a lot of challenges in the form of collecting and consolidating the data while maintaining the transparency and following the mandatory compliances. This has led to the surge in the demand for robust digital and process-oriented solutions. This is where workflow solutions can help organizations streamline their ESG initiatives and reportings by integrating relevant processes and stakeholders on a single platform.
BRSR (Business Responsibility and Sustainability Reporting) is an enhanced reporting framework which replaces the earlier Business Responsibility Report (BRR) requirement that was introduced in 2012. BRSR focuses on both financial and non-financial aspects and encourages companies to adopt robust sustainability practices and standardise reporting on ESG metrics.
1. Holistic Approach: Move beyond compliance-driven reporting to create a standardized, holistic approach to sustainability disclosures.
2. Stakeholder Confidence: Increase the transparency and credibility of sustainability-related information, thereby boosting investor and consumer confidence.
3. Global Alignment: Align with global reporting best practices while addressing specific Indian socio-economic contexts, such as inclusive growth, climate resilience, and social equity.
The BRSR framework is broadly divided into three parts
Part A (General Disclosures)
This section sets the foundation by providing context on the company’s identity, structure, and broad operational footprint. These footprints include their global/local presence through product/service delivery and operations. It also requires the organization to be transparent in terms of CSR and other compliances.
Part B (Management & Process Disclosures)
This section requires the business to disclose the structures, policies and processes put in place towards adopting the NGRBC(National Guidelines On Responsible Business Conduct) Principles and Core Elements.
Part C (Principle-wise Disclosures)
The last section delves deeper into performance metrics and qualitative responses against 9 principles, highlighting both essential and leadership indicators. Collectively these parts are focused on helping
● Companies demonstrate transparency and accountability across the business and sustainability initiatives.
● Investors, regulators, and other stakeholders gain confidence in the organization’s ESG performance and long-term strategy.
● Companies foster continuous improvement, through benchmarking, periodic monitoring
● Companies to practice ESG in line with global standards and stakeholder expectations. The BRSR framework has been designed to enhance stakeholders’ trust, global competitiveness, regulatory compliance and long term value creation. However, it requires alot of effort from the organization to be compliant and provide all the necessary information as per the requirements. The next section outlines some of the key challenges in the BRSR implementation.
1. Data Collection and Reporting
Gathering reliable, consistent ESG data remains a key challenge, particularly for companies with dispersed operations and extended supply chains.
2. Standardization of Metrics
Although BRSR brings more structure, integrating global standards (like GRI, SASB, or TCFD) within the Indian context requires careful alignment. Organizations may find it challenging to harmonize different frameworks.
3. Capacity Building
Many companies need to train their teams and develop internal structures for effective ESG governance and reporting.
4. Cost Implications
Implementing and maintaining robust ESG data systems can be cost-intensive. Addressing the above challenges may seem like a daunting task however the easy no code/low code workflow solutions may be the answer. Easy to customize workflows may not only help the organizations collect the relevant data but also support the capacity building efforts. The benefits of the workflow solution have been highlighted below.
Workflow solutions can be critical enablers in meeting BRSR requirements effectively:
1. Collaboration and Accountability:
Systems such as FlowStax enable workflows with defined SOPs for easy task assignment, SLA based deadlines and reminders. This ensures each ESG metrich as a responsible owner and a clear timeline for completion.
2. Regulatory Compliance & Reporting:
Include pre-designed templates aligned with frameworks like BRSR, making it easier to standardize disclosures and meet submission timelines.
3. Scalability & Flexibility:
As BRSR evolves or new ESG frameworks come into play, FlowStax workflows can be updated quickly, ensuring that companies remain agile and compliant.
4. Centralized Data Management:
Collect and store ESG data from multiple sources (offices, factories, supply chains) in a single platform, ensuring data integrity and easy traceability.
5. Dashboard & Analytics:
Analytics on top of these workflows will help track metrics like carbon emissions, water consumption, and social impact in real time, facilitating quick decision-making and on-the-go reporting.
BRSR from SEBI is currently mandated only for top 1000 companies. These guidelines are bringing a paradigm shift in how Indian companies are approaching sustainability. BRSR is pushing the organisations to integrate ESG into core strategies. While challenges exist, the transition to BRSR is the next logical step for the Indian companies to help compete at the global level.
As more stakeholders continue to prioritize sustainability, BRSR compliance will play a pivotal role in shaping the future of corporate India. This approach will also bring India closer to meeting its Environmental and Sustainability commitments.
Here, at CodeStax.ai we offer a powerful workflow management system “FlowStax” that can be customized to align perfectly with the needs of each organization. Lets Get in Touch: to quickly get your workflows digitized. Reach out to us now at sales@codestax.ai. Lets brainstorm tailored solutions that match your objectives perfectly paving the way, for a future, in digital engagement!