Mapping of Policies with NGRBC Principles
An understanding of the NGRBC principles of India is essential to fully appreciate the BRSR reporting framework. With the evolution of international standards and frameworks, regulatory requirements in India have also become more comprehensive and transparent. In this context, the Ministry of Corporate Affairs (MCA) introduced the National Guidelines for Responsible Business Conduct (NGRBC) in March 2019. These principles are designed to guide businesses in going beyond minimum regulatory compliance and adopting responsible practices. The following section maps the BRSR policy disclosures with the corresponding NGRBC principles required for compliance.
Why Policies Matter?
Corporate governance and sustainability policies represent an organization’s formal commitments to responsible business conduct. They articulate the entity’s values, guiding principles, and standards of behavior. Since all policies require approval from the Board of Directors, they reflect the governing body’s explicit intent and accountability.
Policies may take different forms depending on their scope. General policies address broad thematic areas such as climate change or human rights and are expressed as overarching statements of commitment. Based on these, detailed procedures and operational guidelines are developed for implementation. In contrast, specific policies deal with defined issues or events, such as prevention of sexual harassment or dividend distribution. These are more elaborate in nature and serve as reference points for effective governance and compliance.
A comprehensive policy document generally includes the following sections:
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Document version control, including release dates and record of changes
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Purpose, outlining the objective of the policy
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Scope and applicability of the policy
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Definitions of key terms used in the policy document
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The entity’s philosophy on the subject matter of the policy
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Policy Document Body: principles and guidelines to be followed by concerned stakeholders
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Contact details for clarifications or complaints under the policy
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Communication and training requirements for the policy implementation
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Monitoring and compliance mechanisms
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Policy review process including periodicity
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Formal approval by the Board of Directors