SEBI Considers Aligning ESG Disclosure Norms with Global Standards

The SEBI Advisory Committee on ESG is considering aligning India's Business Responsibility and Sustainability Reporting (BRSR) norms with International Financial Reporting Standards (IFRS) to ensure globally standardised Environmental Social and Governance disclosures.

The updated norms may incorporate sustainability-related (S1) and climate-related (S2) disclosures.

Additionally, SEBI is exploring accreditation for ESG verification bodies, possibly through the National Board of Accreditation.

The Shakti Sustainable Energy Foundation is assisting in research. While the proposal is still in discussion, SEBI emphasizes industry consensus before implementation.

SEBI officials have also raised concerns over greenwashing and misleading ESG claims.