B – BRR vs. BRSR Financial disclosures Vs. Management and process disclosures

Business Responsibility Report (BRR)

B	Financial details of the company
(i)	Paid up capital
(ii)	Total Turnover – Revenue from operations
(iii)	Total profit after taxes
(iv)	Spending on Corporate Social Responsibility (CSR) as a %age of average profit for last 3 financial years
(v)	List of activities in which expenditure in 4 above has been incurred

Business Responsibility and Sustainability Report (BRSR)

Management and process disclosures (details of additional disclosures)

The new format requires disclosures for companies to demonstrate structures, polices and processes put in place toward adopting National Guidelines on Responsible Business Conduct (NGRBC) principles and core elements. Some of the important additional disclosures amongst others are as under:-

(i)	Policy and management process
	Company needs to disclose it confirmation that company’s policy cover each principle and its core elements of the NGRBC and also disclose the web link where policies are disclosed.
	Name of the national /international codes / certifications /labels / (such as Fairtrade, Rainforest Alliance, Stewardship Councils, Trustees) and standards such as SA 8000, OHSAS, BIS, ISO adopted by the company and mapped into the principles.
	Disclosures of goals / targets / specific commitments set by company specifying whether it is mandatory based on any legislation or voluntary.
	In case of mandatory goals / target, the details of relevant legislation to be disclosed.
	Performance against the specific commitments / goals / targets along with reasoning in cases where the goals / target are not met.
(ii)	Governance, leadership and oversight
	Disclosure of director’s responsibility for the business responsibility report containing the highlights of ESG related challenges, targets and achievements.
	The statement should include overall vision and strategy of the company for short term / medium term / long term with respect to managing significant environmental and social impacts that the company causes / contributes to or that are linked directly to the company’s activities / products / services.
	Organizational highest authority responsible for implementing and oversight of the business responsibility policies such as director of the board / committee of the board / committee of employees / senior management personnel.
	In case the committee is the highest authority, the disclosure of composition of the committee is required.
	Disclosure relating to independent audit / evaluation done by an external agencies of the working of company’s policies. (new policy does not allow internal agency to conduct evaluation which was the case in the earlier BRR).