The Analysis of Business Responsibility and Sustainability Reporting Framework on the Stock Prices and Corporate Sustainability of Indian Listed Companies

Abstract

Ever since the environmental, social, and governance boundaries of ESG have become increasingly complex worldwide. Indian business executives also have the responsibility to realign their organization's goals and go beyond generating profits to encompass broad issues that matter to its key stakeholders. The Securities Exchange Board of India (SEBI) adopted the Business Responsibility and Sustainability Reporting (BRSR) guidelines in May 2021, requiring all listed businesses to disclose information related to their environmental, social, and governance (ESG) practises. The major objective of BRSR frame is to enhance translucency and encourage the corporations to implement responsible and sustainable business practices. In several of its internally comparable supervisory schemes, India has emerged as a committed contender who has demonstrated a commitment to and qualification for taking considerable action in paving the path in the fight against climate change and accomplishing the Sustainable Development Goals (SDGs) of the United Nations. With the introduction of the Business Responsibility and Sustainability Reporting (BRSR) by SEBI in 2021. The National Guidelines for Responsible Business Conduct (NGRBC), which were introduced by SEBI, are the foundation for the sustainability reporting format. The National Guidelines for Responsible Business Conduct (NGRBC), which SEBI introduced in 2021, includes nine principles which form the basis of the sustainability reporting format known as Business Responsibility and Sustainability Reporting (BRSR). This is not India's first venture into ESG exposures and supervisory frameworks with BRSR. The Ministry of Corporate Affairs (MCA) established the initial prototype and standards for Business Responsibility Reporting (BRR) in 2009. BRR served as a platform for the development of an ESG reporting structure with a significantly wider scope. It also served as the foundation for BRSR, which took ten years to improve and expand in order to meet the requirements for a multifaceted ESG exposure and the international standards that underpin the current sustainable reporting framework.1