ICRA Group receives SEBI’s nod for ESG Ratings entity

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The credit rating agency ICRA Ltd announced that SEBI has granted its approval for registration of Pragati Development Consulting Services Limited (PDCSL), a wholly-owned subsidiary, as a category-I ESG Rating Provider (ERP) under the SEBI’s Credit Rating Agencies Regulations.

PDCSL applied for ERP registration in September 2023. Upon registration, the entity will commence its environmental, social, and governance (ESG) ratings.

L Shivakumar, EVP – Business Development & Chief Business Officer, ICRA Ltd, said: “ This demonstrates ICRA’s commitment to ESG assessment and its ability to provide comprehensive and reliable ESG ratings to the market.”

ICRA stock inched up 0.24 per cent on the NSE, to trade at ₹5,268.10 as of 1.43 p.m. on Monday.