Regulators will drive the ESG agenda

The ESG (environment, social and governance) committee constituted by the Securities and Exchange Board of India (Sebi) submitted its report in February. Navneet Munot of HDFC Asset Management chaired it (disclosure: I was a member of the committee). Based on this report, Sebi has sought public comments on a comprehensive set of issues: First, the regulatory framework for ESG disclosures by listed entities; second, the ESG ratings in the securities market; and third, ESG investing by mutual funds. It separately invited comments on the regulatory framework for ESG ratings providers (ERPs). Based on the consultations and feedback, the Sebi board

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