What is BRSR? SEBI sustainability report 2026
To answer what is BRSR simply: BRSR, the Business Responsibility and Sustainability Report, is SEBI's environmental, social, and governance disclosure that listed companies publish inside their annual report. It became mandatory for the top 1000 listed companies by market capitalisation from financial year 2022-23 and replaced the older Business Responsibility Report. It is a public disclosure, not a rating or a recommendation. This guide is not investment advice.
Definition
BRSR (Business Responsibility and Sustainability Report)
is SEBI's ESG disclosure, published by a listed company inside its annual report and built around the nine principles of the National Guidelines on Responsible Business Conduct. It is mandatory for the top 1000 listed companies by market capitalisation from FY 2022-23. Source: SEBI.
What is BRSR, and who has to file it?
SEBI set out the BRSR in a circular dated May 2021 and made it mandatory for the top 1000 listed companies by market capitalisation from financial year 2022-23. It replaced the earlier Business Responsibility Report and became part of the reporting a listed company owes under SEBI's Listing Obligations and Disclosure Requirements. The report is structured around the nine principles of the National Guidelines on Responsible Business Conduct, covering how a company treats the environment, its workers, and its wider stakeholders.
Top 1000 listed companies
Must file a BRSR, by market capitalisation, from financial year 2022-23
Source: SEBI circular dated May 2021
What is BRSR Core, and how is the check phased in?
Alongside the full BRSR, SEBI introduced BRSR Core, a smaller set of key indicators grouped under nine ESG attributes that must be checked by an independent third party. Coverage widens by company size: the top 150 listed entities from FY 2023-24, the top 250 from FY 2024-25, the top 500 from FY 2025-26 and the top 1000 from FY 2026-27. The idea is that the numbers investors lean on most are verified, not just self-reported.
One thing changed after this page first went up. The original 2023 circular required reasonable assurance. SEBI's circular dated 28 March 2025 gives a listed entity the option of assessment or assurance, where assessment means third-party assessment under standards developed by the Industry Standards Forum in consultation with SEBI. The same circular made ESG disclosures for the value chain voluntary for the top 250 entities from FY 2025-26. The detail is in what is BRSR Core, and the boundary between the checked and unchecked parts of the report in BRSR vs BRSR Core.
How BRSR fits the public disclosure record
The BRSR is part of a company's public reporting, so it sits alongside the other filings Flock reads. A company's ownership shows up in its shareholding pattern, its board and governance practices in its corporate governance report, and its dealings with insiders in related party transaction disclosures. The BRSR adds the ESG layer to that same annual-report record.
So when someone asks what is BRSR, the answer is a mandatory ESG disclosure inside the annual report, not a score to act on. Flock reads the public filing record and keeps each item dated and linked to its source. What any disclosure means for your money is your call to make.
Frequently asked questions
What does BRSR stand for?
BRSR stands for Business Responsibility and Sustainability Report. It is SEBI's environmental, social, and governance disclosure that listed companies include in their annual report, built around the nine principles of the National Guidelines on Responsible Business Conduct. Source: SEBI circular dated May 2021.
Which companies must file a BRSR?
The BRSR is mandatory for the top 1000 listed companies by market capitalisation, from financial year 2022-23. It replaced the earlier Business Responsibility Report and is filed as part of the annual report under SEBI's LODR rules. Source: SEBI.
What is BRSR Core?
BRSR Core is a subset of key ESG indicators, under nine attributes, that must be independently checked. Since SEBI's circular dated 28 March 2025 an entity may obtain assessment or assurance. Coverage widens from the top 150 listed entities to the top 1000 by FY 2026-27. Source: SEBI.
Where can I read a company's BRSR?
A company's BRSR sits inside its annual report, which is public. Listed companies file it with the stock exchanges, and it is also filed in a structured format with SEBI. So it is part of the public disclosure record, unlike a private fund's holdings. Source: SEBI.
Flock tracks these filings, sourced, dated, and linked back to the original. See what smart-money entities disclosed, without the guesswork about what it means.
Disclosures shown are public regulatory filings. Data may be delayed or incomplete. Smart-money entities may no longer hold positions shown. Not investment advice.