Discuss the initiatives for Integrated Reporting in India.

SEBI initiated the first steps in Integrated Reporting by requiring the submission of a Business Responsibility Report by certain listed entities under Regulation 34(2) of the LODR Regulations. The BRR along with the Financial Reporting was to provide the stakeholders with a comprehensive view of the economic, social and environmental performance of the Company. The Business Responsibility Report has now been changed to Business Responsibility and Sustainability Report mandated for the top 1000 listed companies by market capitalisation. Today an investor seeks both financial as well as non-financial information to take a well-informed investment decision. An integrated report aims to provide a concise communication about how an organisation's strategy, governance, performance and prospects create value over time. The purpose of integrated reporting is to provide shareholders and interested stakeholders with relevant information that is useful for making investment decisions. Also regulation 4(1)(d) of SEBI LODR states "the listed entity shall provide adequate and timely information to recognised stock exchange(s) and investors". IOSCO Principle 16 states "there should be full, accurate and timely disclosure of financial results, risks and other information that is material to investors decisions." SEBI has in its circular of 6th February 2017 provided the following on Integrated Reporting: Integrated Reporting may be adopted on a voluntary basis from the financial year 2017-18 by top 500 companies which are required to prepare BRR. The information related to Integrated Reporting may be provided in the annual report separately or by incorporating in Management Discussion & Analysis or by preparing a separate report (annual report prepared as per IR framework). In case the company has already provided the relevant information in any other report prepared in accordance with national/international requirement / framework, it may provide appropriate reference to the same in its Integrated Report so as to avoid duplication of information. As a green initiative, the companies may host the Integrated Report on their website and provide appropriate reference to the same in their Annual Report.