Timeline for Review of ESG Rating pursuant to occurrence of ‘Material Events’
Summary
This circular modifies the timeline for ESG Rating Providers to review ratings following material events, specifically extending the deadline for Business Responsibility and Sustainability Reporting (BRSR) publications. The original requirement of 10 days is relaxed to 45 days for reviews triggered by BRSR publication to address operational challenges. This amendment applies immediately to all registered ESG Rating Providers, listed entities, stock exchanges, and depositories.
Text
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.
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.
The circular shall be applicable with immediate effect.
This circular is issued with the approval of competent authority, in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 28H of CRA Regulations.
Source: SecMarx — Timeline for Review of ESG Rating pursuant to occurrence of ‘Material Events’. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.