SEBI has been progressively building India ESG regulatory framework since 2012. This timeline covers every major circular and notification that shapes ESG disclosure, assurance, and investment in India today.
Timeline
- August 2012 — SEBI mandates Business Responsibility Report (BRR) for top 100 listed companies (SEBI/HO/CFD/CMD/CIR/P/2012/24)
- December 2015 — BRR extended to top 500 listed companies
- November 2018 — MCA constitutes Committee on Business Responsibility Reporting
- August 2020 — Committee recommends new BRSR format to replace BRR
- May 2021 — SEBI notifies BRSR format (SEBI/HO/CFD/CMD-2/P/CIR/2021/562). Voluntary for FY 2021-22, mandatory from FY 2022-23 for top 1,000
- February 2023 — SEBI issues consultation paper on ESG Rating Providers
- July 2023 — SEBI introduces BRSR Core for assurance (SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122)
- July 2023 — SEBI notifies ESG Rating Provider regulations
- October 2023 — SEBI circular on ESG fund categories and labelling
- January 2024 — BRSR Core reasonable assurance begins for top 150 companies
- March 2024 — SEBI green bond framework updated
- April 2025 — BRSR Core assurance extends to top 250 companies
- April 2026 — BRSR Core assurance extends to top 500 companies
What This Means for Companies
The trajectory is clear: ESG disclosure requirements will only increase. Companies should proactively invest in data systems, assurance readiness, and ESG capacity building.
Start with our free BRSR readiness assessment or speak to our advisory team.