Bridging Business Responsibility and Sustainable Development: The BRSR and SDGs Connection
CA Sandeep Kumar
Senior Manager | Risk Advisory | ESG & Forensics | ASA & Associates LLP
In an era where businesses are increasingly held accountable for their impact on society and the environment, the Business Responsibility and Sustainability Reporting (BRSR) framework has emerged as a critical tool for promoting transparency, ethics, and sustainability.
The BRSR consists of nine guiding principles that help organizations navigate their responsibilities while aligning with global sustainability goals. In this article, we’ll explore how these principles connect with the 17 Sustainable Development Goals (SDGs) set by the United Nations.
The BRSR Principles and SDGs Connection - Across Industries
Business should,
1. Conduct and govern themselves with integrity, and in a manner that is Ethical, Transparent, and Accountable
Aligns with Sustainable Development Goals:
Transparency and accountability are the cornerstones of ethical business practices. By promoting good governance, companies can build stakeholder trust and contribute to peaceful, just, and inclusive societies.
Unilever has committed to ethical business practices by adopting a "Responsible Sourcing Policy" to ensure transparency in its supply chain.
2. Provide goods and services in a manner that is sustainable and safe
Aligns with Sustainable Development Goals:
Emphasizing sustainability throughout the product lifecycle encourages companies to minimize waste, reduce environmental impact, and foster responsible consumption practices.
Patagonia focuses on the sustainability of its products, emphasizing the importance of repair, reuse, and recycling through its "Worn Wear" program.
3. Promote the well-being of all employees, including those in their value chains
Aligns with Sustainable Development Goals:
Prioritizing employee well-being is crucial for fostering a productive and healthy workforce, ultimately contributing to economic growth and societal well-being.
Google provides comprehensive wellness programs and mental health resources to ensure employee well-being.
4. Respect the interests of and be responsive to all its stakeholders
Aligns with Sustainable Development Goals:
Engaging stakeholders creates collaborative opportunities to address complex challenges. Strong partnerships can drive innovative solutions that benefit both business and society.
The Coca-Cola Company engages stakeholders through its "Replenish Africa" initiative, partnering with local organizations to address community needs.
5. Respect and promote human rights
Aligns with Sustainable Development Goals:
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Upholding human rights in the workplace not only ensures decent working conditions but also promotes social equity and reduces inequalities within and among countries.
Microsoft has implemented a Human Rights Policy that seeks to protect workers' rights across its global operations.
6. Respect and make efforts to protect and restore the environment
Aligns with Sustainable Development Goals:
Companies must take proactive measures to protect our planet. Businesses can combat climate change and preserve biodiversity by focusing on environmental sustainability.
IKEA aims to become climate-positive by 2030, investing in renewable energy and sustainable sourcing.
7. Engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent
Aligns with Sustainable Development Goals:
Effective corporate governance structures create accountability, transparency, and ethical business practices that support sustainable development.
Johnson & Johnson emphasizes strong governance practices, including transparency and accountability in its operations.
8. Promote inclusive growth and equitable development
Aligns with Sustainable Development Goals:
Fostering inclusive growth ensures that economic benefits are shared equitably, addressing poverty and promoting gender equality in the workplace.
Danone ’s commitment to social business aims to provide affordable nutrition to low-income populations, promoting inclusive growth.
9. Engage with and provide value to their consumers in a responsible manner
Aligns with Sustainable Development Goals:
Ensuring consumer rights and safety builds trust and promotes responsible consumption patterns.
Procter & Gamble has established robust consumer safety protocols to ensure product safety and quality.
Integrating the BRSR principles into business operations aligns organizations with the SDGs and enhances their sustainability and ethical standards. As businesses increasingly adopt these principles, they play a crucial role in addressing global challenges, driving positive change, and contributing to a more sustainable future.
By committing to these principles, companies can achieve their own goals and help create a better world for all. Let's embrace the BRSR framework and work together towards a sustainable and equitable future.
GST Consultant-Compliance, Litigations, Advisories CA, DISA, B.Com Yoga Enthusiast
3 周Insightful
Life coach & International Corporate Trainer
3 周Wow. It is nice and an eye opener… good work
CA Finalist| Ex-Moore Singhi-Canada| CA Intermediate- Both Groups in 1st attempt| CA Foundation| 12th- 96%| State level Chess player.
3 周This is very insightful. It is written in such a nuanced way that everyone gets a fair view of ESG. Also, ESG is becoming more and more important as time passes.