State of Carbon Disclosure in India 2026

On 20 August, Climes published The State of Carbon Disclosure in India 2026, an analysis of 1,247 BRSR filers, predominantly covering FY2024-25 filings. The research found that 86.8% of companies disclosed both Scope 1 and Scope 2 emissions, but only 42.1% disclosed Scope 3, and just 19 companies, or 1.5% of the sample, broke that figure down into GHG Protocol categories.

The finding lands as SEBI's BRSR framework places growing emphasis on the credibility and depth of sustainability information, not merely its presence. Depth is also what external users of this data, assurance providers, EU buyers under CBAM and lenders calculating financed emissions under PCAF, actually require.

This article sets out what the research found, how the figures were verified, and what the disclosure gap means for filers, exporters, lenders and regulators.

SEBI's Business Responsibility and Sustainability Reporting framework applies to the top 1,000 listed companies by market capitalisation. A subset of nine attributes, BRSR Core, was later introduced with a phased assurance requirement that extends to the full top 1,000 entities in FY2026-27. Scope 1 and Scope 2 emissions were specified tightly under this framework from the start, while Scope 3 has historically required only assessment rather than assurance.

Momentum around carbon disclosure has been building independently of this specific research. ICRA ESG Ratings reported in January 2026 that Scope 3 disclosures among India's top 200 listed companies had risen by roughly 59% year-on-year, attributing the shift to rising ESG data maturity. Separate research tracking BRSR reporting broadly has also found steadily expanding energy and emissions disclosure coverage, with investors increasingly using this data to assess climate-risk exposure and transition preparedness.

External pressure has grown in parallel. CBAM's definitive regime took effect on 1 January 2026, and India's RBI climate-risk disclosure framework now includes Scope 3 expectations for select financial institutions, though it has yet to specify assurance requirements. Both depend on the same category-level Scope 3 data that BRSR does not yet mandate in detail.

The research shows India's BRSR mandate has succeeded where it was specific, pushing Scope 1 and Scope 2 disclosure to 86.8%, but has left Scope 3 depth largely unaddressed, with only 19 companies reporting at the category level that regulators, assurers and buyers increasingly expect.

With assurance requirements extending to the top 1,000 entities in FY2026-27 and CBAM declarations due from 2027, the next several reporting cycles will show whether disclosure depth catches up with disclosure breadth.