PRISM for BRSR

Arooshi Dahiya

10 Feb 2022

SEBI introduced India’s sustainability reporting standard called BRSR or Business Responsibility and Sustainability Reporting. As a part of this, the top 1000 listed companies would have to annually disclose their ESG data. This might seem like an extension to the BRR or Business Responsibility Report but is a lot more thorough and lays a lot more focus on the environment material issues than before.

As companies stand on the forefront of this regulation, some of them are dealing with ESG data for the first time. Some sustainability teams that we interviewed find themselves co-ordinating with teams across the company like HR, finance, operations, administration and sales to collect the relevant ESG data. This entire process of data collection takes months to complete, and after which they sometimes find that some of the data is incorrect due to human errors.

The data that has been collected is present across 100s of email bodies, excel sheets, reports and other documents which makes it extremely hard to even do simple calculations. Sustainability teams end up spending the entire time working their way through this inconsistent ESG data.

Beyond that, sustainability teams also have to assess their company’s progress against their sustainability goals.

Solution

We’ve built our ESG data management software, Prism, to solve just this problem. Prism handles all the backend tasks so that sustainability teams can focus on the real work.

Prism integrates with the company’s existing systems like HRMS, ERP, CRM etc. to automatically collect all the relevant ESG data for the BRSR report. Here is our four-step process to accomplish that:

1. Collect

Prism has broken down all the BRSR questions across 21 material topics to help customers better structure their data collection. With this structure in place, they also know which teams within the company are responsible for which kind of ESG data.

2. Measure

Prism helps you measure your ESG performance based on BRSR or any other reporting standard of your choice. Prism’s insights and dashboard helps you stay aligned with your ESG strategy and goals.

3. Report

At the click of a button, you can create an ESG report as per BRSR which can then be sent to your assurance partners or auditors.

4. Communicate

It’s important to communicate your ESG performance to all stakeholders including internal and external. You can publish the entire ESG report of pick and choose particular data points to publish on your website and social media pages.