Write short notes on the following: Business Responsibility Report.

In line with 'National Voluntary Guidelines on Social, Environmental and Economical Responsibilities of Business' issued by MCA in 2011, Securities Exchange Board of India decided to mandate inclusion of Business Responsibility Reports ("BR reports") as part of the Annual Reports for listed entities. As per updated Regulation 34(2)(f) of SEBI (LODR) Regulations, 2015, annual report of the top five hundred listed entities based on market capitalization (calculated as on March 31 of every financial year), shall include business responsibility report describing the initiatives taken by them from an environmental, social and governance perspective, in the format as specified by the Board from time to time: Provided that listed entities other than top five hundred listed companies based on market capitalization and listed entities which have listed their specified securities on SME Exchange, may include these business responsibility reports on a voluntary basis in the format as specified. Business Responsibility Report (BRR) is a disclosure of adoption of responsible business practices by a listed company to all its stakeholders. SEBI had also prescribed a format for 'Business Responsibility Report'. It contains a standardized format for companies to report the actions undertaken by them towards adoption of responsible business practices.