Corporate Climate Disclosure in India: A Doctrinal Analysis of ESG Regulation, Corporate Accountability and Greenwashing

Abstract

Abstract Sustainability, Environment, Governance and Social Responsibility, Climate Change and ESG Corporate Climate Disclosure: Doctrinal Study, Corporate Accountability, Greenwashing Climate change has become not only an environmental but also an economic, financial and governance issue. It has direct and indirect impact on corporate value and performance, and accordingly, investors and stakeholders are interested in receiving reliable information on climate-related risks, opportunities, and performance of companies. Corporate climate disclosure (CCD) is thus a critical tool for accountability. India has taken significant steps to regulate and standardize CCD in recent years, including mandatory Business Responsibility and Sustainability Reporting (BRSR) for major listed entities. The recent introduction of BRSR Core and assurance requirements indicates the regulator’s intent to improve ESG disclosure quality and curb greenwashing practices. At the same time, stakeholders are concerned about ESG-related reporting inconsistencies, disclosure quality, value-chain reporting, and accountability. This paper analyses India’s legal and regulatory framework on corporate climate disclosure, the role of BRSR/BRSR Core in promoting corporate accountability, the legal challenges of greenwashing, and BRSR’s alignment with international standards (such as IFRS S2). The paper argues that while India has made progress in terms of corporate climate accountability, more work is needed in several areas.