ICRA to foray into the ESG Ratings space

ICRA, a leading Credit Rating Agency, announced today that it has applied for an ESG Rating Provider (ERP) license under its wholly-owned subsidiary, ICRA ESG Ratings Ltd.

ICRA ESG Ratings Ltd (proposed a change of name from Pragati Development Consulting Services Limited, subject to the approval of the statutory authority) proposes to provide ESG Ratings and scores, under the SEBI's Credit Rating Agencies Regulations, amended and notified in July 2023.

The subsidiary's primary focus will be on the business of Environmental, Social, and Governance (ESG) ratings. The operations under this entity will commence post-receipt of the requisite license from SEBI.

Commenting on the development, Mr. Ramnath Krishnan, MD & Group CEO of ICRA Ltd, said, "ICRA ESG Ratings Ltd marks our commitment to responsible and sustainable investing. ICRA is poised to bring its expertise to this pivotal segment. I would like to highlight ICRA's commitment to expanding its offerings and strengthening its presence in the realm of ESG ratings".

Shares of ICRA Limited was last trading in BSE at Rs. 5420.45 as compared to the previous close of Rs. 5587.20. The total number of shares traded during the day was 237 in over 97 trades.

The stock hit an intraday high of Rs. 5811.00 and intraday low of 5352.05. The net turnover during the day was Rs. 1302107.00.

Source : Equity Bulls

Keywords

ICRA INE725G01011 ESGRatingProviderLicense ICRAESGRatings