Business Responsibility and Sustainability Reporting (BRSR) is an update on the existing Business Responsibility Reporting (BRR) which incorporates the current global practices in sustainability reporting based on the National Guidelines for Responsible Business Conduct (NGRBCs). The format of BRSR is divided into two categories i.e. (a) essential i.e. mandatory and (b) leadership i.e. voluntary indicators. The leading indicators in the BRSR format also include disclosures related to the value chain of the listed entities.

The Global Reporting Initiative (known as GRI) is an international independent standards organization that helps businesses, governments and other organizations understand and communicate their impacts on issues such as climate change, human rights and corruption. GRI reporting is becoming widely accepted around the world as a leader in standardizing sustainability reporting in part because of the Triple Bottom Line approach. The GRI Standards help organizations understand their outward impacts on the economy, environment, and society.

The Task Force on Climate-Related Financial Disclosures (TCFD) was created to develop consistent climate-related financial risk disclosures for use by companies, banks, and investors in providing information to stakeholders. Increasing the amount of reliable information on financial institutions’ exposure to climate-related risks and opportunities will strengthen the stability of the financial system, contribute to greater understanding of climate risks and facilitate financing the transition to a more stable and sustainable economy.

Businesses must reduce their environmental impact. One of the most significant ways to do this is by reducing their carbon footprint, and this starts with monitoring carbon emissions. On the road to net zero, one of the main ways that companies’ greenhouse gas emissions are measured and assessed is to look at them within three different ‘scopes’ i.e.) scope 1, 2 & 3 emissions.