International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Volume 8 Issue 4
July-August 2026

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Financial Regulation and ESG Reporting in India: An Empirical Study of NSE-Listed Companies

Author(s) Sandeep Harchandani
Country India
Abstract The present study has been undertaken to study the effect of financial regulation on financial reporting to get insights about environmental, social and governance (ESG) of NSE listed companies in India. It focused on resolving problems of Securities and Exchange Board of India (SEBI) Business Responsibility and Sustainability Reporting framework with special reference to the impacts of the Business Responsibility Reporting on business. The present study has adopted descriptive research design where the data collection was done using the secondary data analysis while obtaining the data from annual report, sustainability report, BRSR disclosures and NSE reports and publications issued by SEBI were provided for. Using an ESG Disclosure Index, the extent and quality of the disclosures concerning the three points of an ESG (environmental, social and governance) was assessed. The descriptive statistics, paired sample tests and regression analysis were used to analyse the data. It was concluded from the findings that prior to the introduction of the BRSR, there was only limited disclosures of ESG, which improved significantly after the BRSR requirements. Governance disclosure was the highest while the lowest was environmental disclosure, but it's still a relatively low score. In addition, this study showed that the size of the companies, every company's profitability and board independence contributes positively to the companies' ESG reporting. Although financial regulation has caused companies to report more transparently, accountably and comparably regarding their sustainability reporting, the study highlighted, this was only true when their sustainable reporting efforts focused on social and environmental reporting. However, this still had a need for further uniformity and external assurance and enhancement of environmental disclosures.
Keywords ESG reporting, financial regulation, BRSR, NSE-listed companies, sustainability disclosure
Published In Volume 8, Issue 4, July-August 2026
Published On 2026-07-29
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E-ISSN 2582-2160
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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