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Crisil Ratings’ arm gets license from SEBI to commence business of ERP
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Shares of Crisil Ltd ended at ₹4,358.00, up by ₹215.85, or 5.21% on the BSE.
Rating agency CRISIL Ratings on Thursday (April 25) said SEBI has approved CRISIL ESG Ratings & Analytics Ltd as a Category 1 provider of environmental, social and governance (ESG) ratings.
CRISIL ESG Ratings & Analytics Ltd is a wholly owned subsidiary of CRISIL Ratings Ltd. CRISIL Ltd launched its ESG ‘scoring’ business in 2021 and gradually expanded coverage from 225 to 1,000 companies across 65 sectors. This business will now be transferred to CRISIL ESG Ratings.
Amish Mehta, managing director and CEO of CRISIL, said, “It is our stated aim to grow sustainably and we are excited to have a licence that reinforces our stewardship of this space.
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The approval comes when ESG disclosures have been improving and there is increasing realisation in the financial markets on the need for independent ESG ratings that will support decision-making for issuers and investors, and channel funds towards sustainable growth of the Indian economy.”
The CRISIL ESG rating framework has been refined over the past few years based on market feedback and alignment with regulatory requirements. Additionally, the company’s cross-sectoral relative benchmarking of ESG performance helps issuers to showcase their ESG preparedness and performance compared with peers and industry best practices.
CRISIL ESG ratings will also help investors to measure and monitor ESG risks in their portfolio and identify investment opportunities considering the long-term sustainability of businesses, in addition to the traditional investment risks.
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Gurpreet Chhatwal, Managing Director of CRISIL Ratings, said, “The ESG scores, which will henceforth be called ‘ESG ratings’, have already found traction among market participants. These are based on a unique Indiaspecific framework that factors in nuances at the sectoral level while being guided by global best practices. The process includes analysis of more than 500 unique data points across the environmental, social and governance aspects for each company.”
Shares of Crisil Ltd ended at ₹4,358.00, up by ₹215.85, or 5.21% on the BSE.
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