ESG DISCLOSURES, BRSR CORE AND INVESTOR PROTECTION: AN ANALYSIS OF THE INDIAN LEGAL FRAMEWORK

AUTHOR – MR. MRUTYUNJAY SARAMANDAL* & MR. YOGESH YADAV**

STUDENTS AT HIDAYATULLAH NATIONAL LAW UNIVERSITY, RAIPUR

BEST CITATION – MR. MRUTYUNJAY SARAMANDAL* & MR. YOGESH YADAV, ESG DISCLOSURES, BRSR CORE AND INVESTOR PROTECTION: AN ANALYSIS OF THE INDIAN LEGAL FRAMEWORK, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 6 (4) OF 2026, PG. 651-659, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/IJLRV6I462

ABSTRACT

This paper undertakes a critical study of the statutory and regulatory framework in the Security Law domain, namely, the Business Responsibility and Sustainability Report (BRSR) of SEBI while keeping investor protection as the core concern. After tracing the evolution of ESG right from CSR and pre-CSR times to mandatory disclosures in the securities domain along side a systematic comparative study with the respective frameworks of the European Union and the United States. The paper highlights noticeable structural challenges such as scale differences among the players and the undue advantage vested upon the issuers who are more aware and educated about the Environmental, Social and Governance disclosure. For recommendations, it proposes calibration in the assurance standards, use of easy and interactive language for reporting and disclosures along with targeted practices such as sectoral materiality guidance and digital tagging for interoperability. The conclusion advocates for adoption of an approach that balances transparency with practicability to protect investors from any possible jeopardization.

KEYWORDS: ESG Disclosure, BRSR Core, Investor Protection, Sustainable Finance