The Securities and Exchange Board of India (SEBI) on January 17, 2025, issued the notification regarding the Timeline for Review of ESG Rating pursuant to occurrence of ‘Material Events’.
The following has been stated namely: -
• Reference is drawn to Master Circular for ESG Rating Providers (ERPs) SEBI/HO/DDHS/DDHS-POD3/P/CIR/2024/47 dated May 16, 2024.
• In order to promote Ease of Doing Business, it has been decided to provide relaxation in the timeline for review of ESG rating pursuant to publication of BRSR.
• The following has been amended in the Master Circular: -
Para 10.1.3 has been modified to state: -
“ERPs shall carry out a review of the ESG ratings upon the occurrence of or announcement/ news of such material developments immediately, but not later than 10 days of occurrence of the said event. However, review of the ESG rating pursuant to publication of BRSR by the rated entity shall be carried out immediately, but not later than 45 days of the publication of the BRSR”
This shall come into force on January 17, 2025.
[Notification No. SEBI/HO/DDHS/DDHS-PoD-3/P/CIR/2025/007]
