SEBI consults on assurance for ESG disclosures
The Securities and Exchange Board of India (SEBI) has been consulting on a regulatory framework that would require assurance for environmental, social, and governance (ESG) disclosures.
SEBI has already mandated ESG disclosures for the largest 1000 companies in India through the Business Responsibility and Sustainability Reporting (BRSR) framework, which comes into force for the fiscal year 2022.
This consultation explores the potential for improving assurance of ESG disclosures with new assurance KPIs that reflect the new content of the disclosures. The proposal would require verification of declared data by a third party and would be phased in by company size.
As the consultation has already closed, watch this space for news on the outcome. Introducing assurance for sustainability disclosures is a growing theme of debate in sustainability reporting. We believe it’s a topic that should be under consideration in jurisdictions worldwide, as independent review of ESG disclosures could help ensure that the upcoming wealth of ESG data is relevant, accurate, and useful for investors.
Read more here.