Sebi gives nod to CARE Ratings' arm to offer ESG ratings
CARE ESG Ratings Ltd will commence its ESG rating activity, according to a statement issued by CareEdge Group on Friday.
Capital markets regulator Sebi has given approval to CARE Ratings Ltd's subsidiary CARE ESG Ratings to provide environmental, social, and governance (ESG) ratings.
Such ratings will enable the issuers to discern steps for the betterment of their sustainability performance.
Having received the registration under the Sebi (Credit Rating Agencies) Regulations on May 2, 2024, CARE ESG Ratings Ltd will commence its ESG rating activity, according to a statement issued by CareEdge Group on Friday.
"With the use of ESG ratings, a sustainable growth journey of businesses can get an independent viewpoint. A business can now assess its relative position and take action to strengthen its sustainability policies & practices.
“Investors and stakeholders have adopted new perspectives on ESG-based reporting, and performance, both domestically and internationally," Mehul Pandya, MD and Group CEO of CareEdge,
said.
Last month, Sebi gave clearance to ICRA's subsidiary Pragati Development Consulting Services Ltd and Crisil's entity Crisil ESG Ratings & Analytics to offer ESG ratings.
In 2023, the Securities and Exchange Board of India (Sebi) amended its regulations pertaining to credit rating agencies, whereby ERPs can be allowed to register with the regulator under the CRA (Credit Rating Agencies) norms.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
IPL Auction 2025 Free Live Streaming: When and where to watch Indian Premier League 2025 mega auction live online, on TV, Mobile Apps, and Laptop?
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
06:24 PM IST