Question : Business Responsibility Reports

(a) the details of the number of companies that were mandated to file Business Responsibility Reports and the number of companies that did not comply with them during the last three years, RoZ-wise, State-wise;

(b) the measures taken by the Ministry to adopt a more comprehensive framework for sustainability and business responsibility to be complied with the companies in the interest of the investors;

(c) whether the Government has taken any steps towards developing sector specific Business Responsibility and Sustainability Reporting(BRSR); and

(d) if so, the details thereof along with the steps taken by the Government for its speedy implementation?

THE MINISTER OF STATE FOR FINANCE
AND CORPORATE AFFAIRS (SHRI ANURAG SINGH THAKUR)
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(a): Companies are not mandated to file Business Responsibility Reports (BRR) under the Companies Act, 2013. However, Securities and Exchange Board of India(SEBI) (Listing Obligation And Disclosure Requirements) Regulations, 2015 required the top 500 companies by market capitalization to file BRR as part of their annual report (FY 2015-16 to FY 2018-19). The BRR filing has been extended to top 1000 listed companies by market capitalization for the financial year 2019-20 onwards. As per data provided by SEBI, the number of companies that have not filed BRR for the last three year is:-
S. No. Financial Year Number of Companies
1. 2016-17 12
2. 2017-18 18
3. 2018-19 6
Contd….2/-


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(b) to (d): The BRR framework mandated by SEBI is based on ‘National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)’ which was released by MCA in 2011. Further, taking into account the national and global developments since then, the Ministry has revised the NVGs as National Guidelines for Responsible Business Conduct (NGRBC) and updated the BRR framework.
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