The Securities and Exchange Board of India (SEBI) in its Notification dated 26th December 2019, has published the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2019 by making it mandatory for top 1,000 listed companies to prepare Annual Business Responsibility report, covering their activities related to environment and stakeholder relationship.
The Amendment is brought under Regulation 34(2) (f) related to “Annual Report” which now provides that:
“The annual report shall contain for the top one thousand listed entities based on market capitalization (calculated as on March 31 of every financial year), business responsibility report describing the initiatives taken by them from an environmental, social and governance perspective, in the format as specified by the Board from time to time,
Provided that listed entities other than top one thousand listed companies based on market capitalization and listed entities which have listed their specified securities on SME Exchange, may include these business responsibility reports on a voluntary basis in the format as specified.”
Earlier it was mandatory only for top 500 listed entities to submit their Annual report.
Click here to read the Notification.
