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illuminem summarizes for you the essential news of the day. Read the full piece on Business Standard or enjoy below:
🗞️ Driving the news: Crisil ESG Ratings & Analytics has secured approval from India's Securities and Exchange Board (SEBI) to become a Category 1 provider of ESG ratings
• This follows SEBI's revised norms for ESG rating providers, requiring registration and certification for such entities
🔭 The context: Crisil's ESG rating business was launched in 2021 and now covers over 1,000 companies across 65 sectors
• The approval by SEBI means Crisil's ESG business will be moved to the Crisil ESG Ratings subsidiary, ensuring compliance with India's regulations
🌍 Why it matters for the planet: ESG scores are pivotal for assessing companies' sustainability and ethical standing
• These ratings help asset managers and investors align their portfolios with responsible practices, contributing to sustainable investment and reduced greenwashing risks
⏭️ What's next: SEBI's introduction of two rating categories aims to ensure transparency and practical, accurate methodologies in ESG ratings
• The transition to Crisil ESG Ratings is expected to streamline Crisil's ESG business and promote adherence to India's reporting ecosystem
📈 One stat: Crisil's ESG ratings cover over 1,000 companies across 65 sectors
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