SEBI Amends Credit Rating Agencies Regulations | Mandates ESG Ratings on Public Information Under Subscriber-Pays Model
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- Last Updated on 24 April, 2025
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Notification No. SEBI/LAD-NRO/GN/2025/242; Dated: 22.04.2025
SEBI has notified the SEBI (Credit Rating) (Second Amendment) Regulations, 2025. A new regulation, 28KA, has been inserted. It states that an ESG rating provider following a subscriber-pays business model must ensure that the ESG rating assigned is based only on publicly available information. The fee paid by the subscriber is the lowest fee payable amongst subscribers if the rated entity is a subscriber or group company or associate of an entity is a subscriber to the ESG rating of such entity.
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