Mumbai (Maharashtra) [India], February 18 (ANI): The Securities and Exchange Board of India (SEBI) has constituted a Working Group to review the regulatory framework for ESG Rating Providers (ERPs).
The regulator said the decision has been taken based on feedback received from market participants and stakeholders regarding the existing regulatory framework.
SEBI said in a press release on Wednesday that the Working Group comprises representatives from issuers, Investors/ESG rating users, Domestic ERPs, Global ERPs, ESG analysts, legal experts and academia.
The terms of reference of the Working Group include undertaking a comprehensive review of the existing regulatory framework governing ERPs and examining representations and suggestions received from the market participants.
The other terms of reference include recommending measures to enhance transparency, reliability, and investor confidence in ESG ratings; evaluating international regulatory developments in the ESG rating space; and identifying areas for alignment with global best practices, while considering the Indian market context.
The release said that the Working Group will submit its report to SEBI with findings and recommendations on policy and regulatory changes required in the ERP framework. (ANI)
